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Robert Maclay and Deborah Cohn Present Estate Planning Seminar at World Bank

Robert Maclay and Deborah Cohn in November made their twice-a-year presentation on estate planning as part of the World Bank Pension Department’s Pre-Retirement Planning Series.

Bob, a member of the firm’s Estate Planning, Estate & Trust Administration, Tax and Health Law practice groups, spoke to unmarried U.S. citizens and couples comprised of two U.S. citizens on taking advantage of state and federal estate tax exemptions, the use of trusts and a variety of other topics of interest to the participants. Debbie, who also belongs to Paley Rothman’s Estate Planning, Estate & Trust Administration and Tax groups, provided an overview presentation on basic estate planning (e.g., defining and differentiating between a will, a revocable trust, power of attorney, medical directive, probate and its advantages and disadvantages) and then addressed non-U.S. citizens on a variety of issues, including the different tax systems that apply to individuals who are—and are not—domiciled in the U.S. for estate tax purposes, the federal estate tax exemption available in both scenarios and those assets subject to or exempt from tax in both situations. Debbie also chaired a full-day MICPEL program on Will Drafting and discussed ethics, standard of care and attorney-client privilege in addition to speaking on certain non-dispositive provisions, including probate avoidance strategies, beneficiary designations and joint property.