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Showing 209–224 of 384 results
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Estate Planning Red Flag – You’re not making direct payments of tuition and medical expenses
March / April 2015
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 303
Abstract: Now that the gift and estate tax exemption has risen to $5.43 million in 2015, taxes might not seem so much of a concern. But what if one’s wealth grows beyond the exemption amount in the coming years and decades? What if lawmakers decide to reduce the amount? This article reveals how the exemption for direct payments of tuition and medical expenses can provide a valuable opportunity to reduce potential gift and estate tax exposure down the road.
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Planning for aging parents – 5 tips for the sandwich generation
March / April 2015
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 506
Abstract: With so many people finding themselves caring for both their children and their parents at the same time, estate planning has expanded in many cases to include not only children, but one’s aging parents as well. This article provides five tips to consider, including making gifts, setting up trusts, and buying the parents’ home.
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21st century estate planning accounts for digital assets
March / April 2015
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 745
Abstract: Traditionally, when a loved one dies, family members go through his or her home to look for personal and business documents. Today, however, many of these items may not exist in “hard copy” form. Unless an estate plan addresses these digital assets, family members may not know where to find them or how to gain access. And delays can cause irreparable damage, particularly when a business is involved. This article offers suggestions for making sure that family members will not only know that particular digital assets exist, but will be able to access them quickly.
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Second trip down the aisle? Update your estate plan to reflect your second marriage
March / April 2015
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 880
Abstract: For those in a second marriage, or planning another trip down the aisle, estate planning can be complicated. Besides both the current and the former spouse to consider, there may be children from both marriages. This article explains that one should start the estate planning process by taking an inventory of assets. Then, trusts can provide flexibility in determining how and when wealth will be shared with beneficiaries — but taxes also should be considered. Meanwhile, a sidebar points out that an irrevocable life insurance trust provides instant wealth for children while allowing other assets to be left to one’s spouse.
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Estate Planning Red Flag – You don’t have a health care power of attorney
January / February 2015
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 322
Abstract: What happens if illness, injury or age-related dementia renders a person unable to make decisions or communicate their wishes regarding their health care or financial affairs? Unless their estate plan addresses these situations, the family may be forced to seek a court-appointed guardian. This article explains the importance of creating a health care power of attorney, which appoints a representative to make medical decisions on behalf of a person who is incapacitated.
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Changing family makeup requires estate plan review
January / February 2015
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 585
Abstract: Today’s American families have grown increasingly diverse. Besides the typical nuclear family, a family may include unmarried parents of adopted children or married parents with unadopted stepchildren. Those whose family’s demographics have recently changed need to revisit their estate plan. This article takes a close look at a few specific family makeups, and what steps need to be taken to clearly resolve such matters as parental custody and asset distribution.
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4 ways to transfer a family business
January / February 2015
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 694
Abstract: The best approach to selling one’s business depends on the particular circumstances. For those whose net worth is well within the estate tax exemption, for example, it might be best to focus on reducing income taxes. But those who expect their estate to be significantly larger than the exemption amount may be more concerned with estate tax reduction. This article offers four estate-tax-wise techniques to transfer a family business — all of them involving “defective” trusts.
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Life insurance – A powerful estate planning tool for nontaxable estates
January / February 2015
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 867
Abstract: For years, life insurance has provided a source of liquidity to pay estate taxes and other expenses. But, with the estate tax exemption above $5 million, estate taxes are no longer a concern for the vast majority of families. Even for nontaxable estates, however, life insurance continues to offer significant estate planning benefits. As this article explains, life insurance can not only replace lost income, but wealth as well, in a variety of contexts. And it can be a way to support charities in a cost-effective manner. A sidebar explains that, even in a nontaxable estate, an irrevocable life insurance trust offers significant benefits.
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Estate Planning Red Flag – You believe all inherited IRAs are protected from creditors in bankruptcy
November / December 2014
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 335
Abstract: Until recently, it was widely believed that inherited IRAs, like other IRAs, are protected from creditors in bankruptcy. But in a June 2014 decision — Clark v. Rameker — the U.S. Supreme Court held that an IRA inherited by the owner’s daughter was not. This article provides details of the Court’s findings and explains why leaving an IRA to a trust rather than a family member may be beneficial if bankruptcy is a concern. Clark v. Rameker, No. 13-299, June 12, 2014 (Supreme Court)
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Worried about challenges to your estate plan? Make it no contest!
November / December 2014
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 604
Abstract: No matter how clearly an estate plan communicates the deceased person’s wishes, there’s a chance that one or more family members will become disgruntled over the outcome and challenge the estate plan. One strategy for protecting a plan is to include a “no-contest” clause in the will or revocable trust (or both). This article explains how a “no-contest” clause works and provides alternative strategies that minimize incentives to challenge a plan.
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Don’t underestimate the impact of state estate taxes
November / December 2014
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 546
Abstract: With the federal gift and estate tax exemption currently topping $5 million, fewer people have to worry about implementing strategies to reduce federal estate tax liability. However, it’s unwise to forget to plan for state estate taxes. This article details how tax rates and exemptions vary from state to state and offers planning techniques to offset state estate taxes.
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The Sec. 1031 exchange – A powerful estate planning tool
November / December 2014
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 1007
Abstract: Now that the combined gift and estate tax exemption amount has topped $5 million, many people planning their estates have turned their attention to income taxes. For those who own highly appreciated business or investment real estate, one of the most effective tax strategies is the Section 1031 “like-kind” exchange. This article explains how a Sec. 1031 exchange can defer capital gains taxes on appreciated property. A sidebar answers the question, “Can personal property be used with a Sec. 1031 exchange?”
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Estate Planning Red Flag – Your will leaves everything to your life partner
September / October 2014
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 308
Abstract: There are many benefits to marriage, including some significant estate planning advantages. Nevertheless, for a variety of reasons, many couples — both opposite-sex and same-sex — choose not to marry. It’s common for unmarried partners to leave all or most of their wealth to each other in their wills. But this can result in a significant estate tax liability. This article notes a couple of techniques that unmarried partners can use to reduce their estate tax bills.
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Family meetings help ensure estate planning success
September / October 2014
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 617
Abstract: Unless an estate plan — and the principles behind it — is communicated to one’s family and to executors, trustees, guardians and agents, the plan is at risk. Holding family meetings can help ensure that representatives understand and accept their responsibilities and that loved ones understand the reasons that the donor is distributing the wealth in his or her chosen manner. This article describes whom to invite to such a meeting and what to discuss.
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Could an exchange help cover LTC insurance costs?
September / October 2014
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 747
Abstract: Long-term care insurance policies can be expensive — particularly if bought at retirement age. But this article explains that using a total or partial tax-free exchange of an existing life insurance policy or annuity contract can help deal with the expense. A tax-free exchange allows one to defer taxable gain and, to the extent the gain is absorbed by LTC insurance premiums, eliminate it permanently.
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The true cost of giving – Charitable donations in a no-estate-tax environment
September / October 2014
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 867
Abstract: As higher exemptions result in fewer people being subject to estate taxes, some might be concerned that this will hurt charities. Reduce the tax bite, the theory goes, and charitable giving will decline. In fact, the opposite is usually true. People who are charitably inclined generally don’t consider the cost of giving. It’s more common to determine the after-tax amount they wish their heirs to receive and leave the excess, if any, to charity. Accordingly, lower gift and estate taxes may increase interest in charitable remainder trusts (CRTs). This article looks at the details, while a sidebar discusses the flexibility that a nonqualified CRT can offer.