Law Commons^™

The Law Of High-Wealth Exceptionalism, Allison Anna Tait

Law Faculty Publications

No family is an island. But some families would like to be – at least when it comes to wealth preservation – and they depend on what this Article calls the law of high-wealth exceptionalism to facilitate their success. The law of high-wealth exceptionalism has been forged, over the years, from the twinned scripts of wealth management and family wealth law, both of which constitute high-wealth families as sovereign entities capable of self-regulation and deserving of exemption from the rules that govern ordinary-wealth families. Consequently, high-wealth families take advantage of complicated estate planning techniques and highly favorable wealth rules in …

Am I The Only Person Paying Taxes? The Largest Tax Loophole For The Rich - Exchange Funds, David J. Herzig

Law Faculty Publications

President Obama is faced with a national debt at over $11 trillion and needs to fund projects such as National Health Care with an ever-shrinking tax base. As the economy has slowed, so have tax revenues. It would then make sense for the government to reexamine tax carve-outs that only benefit the wealthy. In fact, President Obama is on record saying he wants to eliminate tax loopholes. After almost fifty years, the time is ripe to eliminate one of the few congressionally authorized tax loopholes—the $30 billion Exchange Funds.

This Article addresses the social equity arguments and the tax and …

Disclaimers As An Estate Planning Tool, J. Rodney Johnson

Law Faculty Publications

Most lawyers are familiar with the importance and function of post-mortem estate planning. This article will focus on one tool that is being used with ever increasing frequency in all phases of the post-mortem estate planning process- the disclaimer.