Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, October 29, 2010

Discussion About $20 Million Estates

Money The September and October 2010 editions of The Estate Analyst included a two-part discussion about $20 million estates by Robert L. Moshman (attorney and writer).

The introduction to the September edition, entitled The Unfortunate $20-Million Estate: When Things Go Wrong, is below:

A sobering reality is confronting many Americans in general, but there is a niche that has unique and serious planning problems—and we are not referring to all those who are going bankrupt, losing their homes to foreclosure, or filling out forms for unemployment benefits. They won’t be getting much sympathy from the one in seven Americans living in poverty, nor from the vast majority of Americans with less than $1 million in total assets, but those with $20-million estates may have the most to lose in a short time if they aren’t extremely vigilant right now—and over the next several years. Here we examine the unique circumstances and context of the $20-million estate, what can go wrong, and some defensive measures for keeping things under control.

The introduction to the October edition, entitled Resurrecting the $20-Million Estate; Don't Forget About the BDIT!, is below:

Two limousines pull up alongside each other. The passengers roll down their windows. A bottle is exchanged. Is it Dom Perignon? Is it Grey Poupon? Or is it…Pepto Bismol?

Worrisome economic times have humbled estates of all sizes. Even a once-mighty estate may now need to be nurtured back to fiscal health.

As the estate tax prepares for a dramatic return in 2011, the challenge of estate taxation has returned as well.

Let’s review some of the best planning options for estates of about $20 million. One of those options is the Beneficiary Defective Inheritor’s Trust (BDIT).


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