EST
Showing 289–304 of 384 results
-
Estate Planning Red Flag – You don’t know the value of your assets
November / December 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 308
Abstract: With the high gift and estate tax exemptions currently in effect ($5 million, or $10 million for married couples), one might think that estate valuations are less important. But even if an estate’s value is under the exemption amount, there are several good reasons to determine the value of the assets. This brief article lists several.
-
Postmortem affairs – What you need to do after a family member’s death
November / December 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 549
Abstract: Many find themselves at a loss regarding taking care of a loved one’s legal and financial matters after death. This article walks through the steps, including locating the loved one’s will or living trust document; conducting an inventory of assets and liabilities; and attending to life insurance and Social Security benefits.
-
At your own risk – The pitfalls of DIY estate planning
November / December 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 535
Abstract: With an abundance of online services that automate the creation of wills and other documents, it’s easy for a person to create his or her own estate plan. But unless the estate is small and the plan is exceedingly simple, the pitfalls of do-it-yourself (DIY) estate planning can be many. As this article explains, people often neglect the formalities — which can vary from state to state — associated with the execution of wills and other documents. Furthermore, DIY planning cannot be expected to take into account changes in the tax laws from one year to the next, which can have a dramatic impact on estate planning strategies.
-
Why the value of exemption portability is limited
November / December 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 1162
Abstract: One notable change to estate tax law is the “portability” of gift and estate tax exemptions. Now, when one spouse dies, the surviving spouse can take advantage of the deceased spouse’s unused exemption. This means avoiding gift and estate taxes and achieving a stepped-up basis for one’s children with minimal estate planning. But this article shows that, in most instances, portability is no substitute for traditional estate planning. Besides several other reasons discussed, portability doesn’t protect assets from creditors or avoid taxes on appreciation. But a sidebar notes that, if one chooses portability, an executor must make an election on a timely filed estate tax return.
-
Estate Planning Red Flag – You have an interest in or authority over a trust that holds foreign accounts
September / October 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 277
Abstract: During the last few years, the IRS has stepped up its enforcement of the Report of Foreign Bank and Financial Accounts (FBAR) rules. To discourage taxpayers from hiding foreign accounts, these rules require U.S. citizens, residents and entities to file annual returns disclosing financial interests in, or signature authority over, foreign bank and investment accounts with an aggregate value of more than $10,000. This article explains who is subject to FBAR reporting requirements and the kinds of interests that must be disclosed.
-
Take care of a loved one who has special needs with an SNT
September / October 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 739
Abstract: Special needs trusts (SNTs) benefit children or other family members with a disability that requires extended-term care or that prevents them from being able to support themselves. This trust type can provide peace of mind that a loved one’s quality of life will be enhanced while not disqualifying him or her for Medicaid or Supplemental Security Income (SSI) benefits. This article examines what an SNT can and cannot pay for, and explains the language that it should contain to ensure it doesn’t disqualify the beneficiary from government benefits and will protect the assets against creditors’ claims.
-
Shopping for tax savings – Relocating a trust to a tax-friendly state
September / October 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 625
Abstract: If a trust is subject to high state income taxes, it may be possible to change its residence — or “situs” — to a state with low or no income taxes. But not all trusts are the same — nor are state laws. This article explains which types of trusts may be good candidates for relocation, along with the factors that states use in determining a trust’s state of “residence” for tax purposes. It also discusses the steps involved in moving a trust.
-
Pension payouts: What’s the best option?
September / October 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 929
Abstract: One tough decision that retirees face is choosing the best option for receiving payouts from a pension plan. Would a lump-sum payment be the best option, or would it be better to go with an annuity? If the latter, is it better to go with single life or joint life? What about combining a single-life pension payout with a life insurance policy? As this article explains, the answers depend on such factors as the beneficiary’s and spouse’s actuarial life expectancies, current health conditions and family medical histories, along with current financial needs and the possible desire to provide a spouse with a continuing source of current income. A sidebar shows how a breakeven analysis can assist the decision-making process.
-
Estate Planning Red Flag – You haven’t planned for incapacity
July / August 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 302
Abstract: Estate planning is often associated with death. But it’s just as important for a plan to address incapacity associated with illness, injury, advanced age or other circumstances. This article looks at three planning tools for financial decisions (a revocable living trust, a durable power of attorney, and joint ownership) and two tools for health care decisions (a health care power of attorney and a living trust).
-
Are your loved ones’ inheritances protected? Add spendthrift language to a trust to safeguard assets
July / August 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 448
Abstract: Despite its name, the purpose of a spendthrift trust isn’t just to protect profligate heirs from themselves. Adding spendthrift language to a trust benefiting one’s heirs can help safeguard assets from their creditors, or in the event of relationship changes. This article explains how a spendthrift trust works.
-
Estate planning isn’t just about taxes
July / August 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 589
Abstract: Estate taxes are only one piece of the estate planning puzzle. In fact, there are critical nontax issues to think about. This article looks specifically at appointing a guardian for children; avoiding probate through a revocable “living” trust; protecting assets against creditors’ claims; and designing a trust to incentivize the beneficiary’s behavior.
-
The GST tax exemption – A tool to generate future tax savings
July / August 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 1169
Abstract: The generation-skipping transfer (GST) tax can have harsh consequences. Those who take full advantage of GST planning strategies, however, have an opportunity to shield their wealth from tax and build a lasting legacy. This article discusses three types of transfers that may trigger GST taxes, and illustrates strategies to allocate the GST tax exemption in a manner designed to produce the greatest tax savings. A sidebar shows why automatic-allocation rules regarding the exemption don’t always work in a taxpayer’s best interest.
-
Estate Planning Red Flag – Your estate plan contains a formula clause
May / June 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 315
Abstract: If one’s estate plan contains a formula clause tied to the federal estate tax exemption, it’s a good idea to review it in light of changes made by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. As this article explains, formulas may need to be adjusted to avoid unintended results.
-
Are you protecting your business interests?
May / June 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 512
Abstract: This article describes several business asset-protection strategies that owners should consider implementing to help ensure that their business will remain a valuable asset for their heirs. These include creating separate entities, stripping the company of equity, or distributing accumulated earnings to the owners. But, as a sidebar explains, the time to implement asset-protection strategies is well before the company runs into trouble with creditors’ claims. Otherwise one could run afoul of fraudulent conveyance laws.
-
2010 Tax Relief act – 2 notable omissions provide continuing opportunities
May / June 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 649
Abstract: The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 is notable not only for the changes it made, but also for those it omitted to make. It did not, for example, adopt proposals that would have reduced the tax-saving opportunities inherent in grantor retained annuity trusts (GRATs), family limited partnerships (FLPs) and family limited liability companies (FLLCs). But there’s no guarantee that Congress won’t revisit these proposals in the future. Plus these strategies may be even more powerful while the gift tax exemption is $5 million. So, as this article explains, those considering setting up a GRAT, FLP or FLLC may find that it’s a good idea to do so sooner rather than later.
-
Lifetime gifts are more important than ever
May / June 2011
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 989
Abstract: The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 has created an unprecedented opportunity for affluent taxpayers to remove substantial amounts of wealth from their estates through lifetime gifts. It’s increased the gift and estate tax exemptions, and reduced the top rate for these taxes, but for 2011 and 2012 only. It’s uncertain whether Congress will make these changes permanent, so those who have the ability to make large gifts may find it beneficial to do so this year or next. This article offers details about the increased exemption, the tax-saving power of annual exclusion gifts and direct payments of tuition and medical expenses. And a sidebar explains why credit shelter trusts are still a good idea.