Reinecke Quoted on Estate Planning

Foley Partner David Reinecke was quoted in an article that appeared in the October 2010 issue of Business Review USA titled “Transferring wealth to the next generation.” Reinecke offers advice on estate planning for baby-boomers who are looking to invest their assets in trusts, stating that the fluttering stock market and failing housing industry makes it an ideal time to deploy an estate planning wealth strategy. He adds that utilizing estate planning techniques such as grantor retained annuity trusts will allow baby-boomers to transfer their wealth to later generations while avoiding estate taxes that could require their heirs to pay at least 50 percent of what is gained from inherited assets.