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Showing 113–128 of 384 results
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Estate Planning Red Flag – You have assets in payable-on-death accounts
March / April 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 313
Abstract: Payable-on-death (POD) accounts provide an inexpensive way to transfer assets outside of probate. They can be used for bank accounts, certificates of deposit or even brokerage accounts. Setting one up is as easy as providing the bank with a signed POD beneficiary designation form. When a person dies, his or her beneficiaries just need to present a certified copy of the death certificate and their identification to the bank, and the money or securities are theirs. However, POD accounts can backfire if they’re not coordinated carefully with the rest of an estate plan. This brief article uses a fictional example to explain why.
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The HSA: A healthy supplement to your savings regimen
March / April 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 678
Abstract: Longer life expectancies and rising health care costs make saving for retirement more important than ever before. A Health Savings Account (HSA) can be a powerful tool for financing health care expenses while supplementing one’s other retirement savings vehicles. And it offers estate planning benefits to boot. This article details how an HSA works and how it can fit into a person’s estate planning.
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Stay true to your family with a total return unitrust
March / April 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 738
Abstract: Even in the strongest families, conflicting interests between income and remainder beneficiaries can create tension and turn the trustee’s job into a delicate balancing act. By aligning beneficiaries’ interests, a total return unitrust (TRU) can relieve this tension and allow the trustee to concentrate on developing the most effective investment strategy. This article details the benefits of a TRU.
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Donating to charity? Watch out for new appraisal regs
March / April 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 874
Abstract: If a person makes substantial noncash gifts to charity, it’s important to familiarize him- or herself with new requirements for qualified appraisals. Recently, the IRS finalized 10-year-old proposed regulations regarding substantiation and reporting requirements for charitable deductions. This article details the regs and discusses qualified appraisals. A brief sidebar explains who isn’t a qualified appraiser.
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Estate Planning Red Flag – You’ve made nondeductible contributions to your IRA
January / February 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 313
Abstract: Traditional IRAs can hold a mixture of deductible (after-tax) and nondeductible (pretax) contributions. If this is the case, it’s critical to track contributions carefully to avoid double taxation of distributions. Why? Because the IRS treats distributions as a blend of pretax and after-tax dollars. This brief article explains why a person can end up overpaying taxes if the distributions are treated as fully taxable.
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Finding your footing after a spouse dies unexpectedly
January / February 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 598
Abstract: Death is a topic few wish to think about. It’s one reason people tend to put off estate planning until later in life. But what if a spouse unexpectedly dies? This article details several steps that must be taken after a spouse dies, including handling emotional responses, obtaining a death certificate and making notifications.
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Using nongrantor trusts to bypass SALT deduction limit
January / February 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 639
Abstract: For those living in high-tax states, a nongrantor trust can be used to soften the blow of the new $10,000 federal limit on state and local tax (SALT) deductions. This article explains how a nongrantor trust works.
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Do you need to file gift tax returns? Avoid these common mistakes
January / February 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 966
Abstract: As the combined gift and estate tax exemption continues to increase, fewer families will be subject to federal gift taxes. If a person’s wealth is well within the exemption amount, does that mean he or she doesn’t need to file a gift tax return? This article examines situations in which it’s necessary (and desirable) to file a return. A sidebar explains the benefits of making direct payments of medical and education expenses.
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Estate Planning Red Flag – You’re borrowing from your retirement plan
November / December 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 314
Abstract: A person may be tempted to borrow from his or her 401(k) or other qualified retirement plan to pay for college tuition, credit card bills or other expenses. This brief article explains that, given the risks and hidden costs of borrowing from a retirement plan, it should generally be viewed as a last resort.
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Does your estate include intellectual property?
November / December 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 627
Abstract: If one has invented something during his or her lifetime and had it patented, their estate includes intellectual property (IP). The same goes for any copyrighted works. These assets can hold substantial value, and, thus, must be addressed by the person’s estate plan. This article explores how IP assets are generally treated differently than other types of property.
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The net investment income tax is alive and well
November / December 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 532
Abstract: The Tax Cuts and Jobs Act reduced individual income tax rates, but it left the 3.8% net investment income tax (NIIT) in place. It’s important to address the NIIT in an estate plan because it can erode earnings from interest, dividends, capital gains and other investments, leaving less for heirs. This article details how the NIIT works and how to reduce liability.
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Flex plan – In an unpredictable estate planning environment, flexibility is key
November / December 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 993
Abstract: Last year’s tax reform legislation made only one change to the federal gift and estate tax regime, but it was a big one. The act had the effect of more than doubling the combined gift and estate tax exemption, as well as the generation-skipping transfer (GST) tax exemption, from $5.49 million in 2017 to $11.18 million in 2018. This change is only temporary, however. Unless Congress takes further action, the exemptions will return to their inflation-adjusted 2017 levels starting in 2026. This article explains why it’s important to build some flexibility into an estate plan to address potential tax liability after 2025. A sidebar defines an estate tax “clawback.”
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Estate Planning Red Flag – Your charitable gifts are unrestricted
September / October 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 318
Abstract: If philanthropy is an important part of one’s legacy, he or she should consider taking steps to ensure that donations are used to fulfill the intended charitable purposes. This brief article explains how placing restrictions on a charitable gift can help ensure a charitable gift is used as the donor intended.
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Asset protection – A hybrid DAPT offers the best of both worlds
September / October 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 635
Abstract: If a person was concerned about personal liability, he or she might consider an asset protection trust to shield their hard-earned wealth against frivolous creditors’ claims and lawsuits. The benefit of a domestic asset protection trust (DAPT) is that it offers creditor protection even if the person is a beneficiary of the trust. But there are also risks involved. This article details why a “hybrid DAPT” might be a better option.
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Put pen to paper – A letter of instruction and a mission statement add clarity to an estate plan
September / October 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 589
Abstract: Legally binding documents, such as a will or living trust, spell out a person’s final wishes. But including a letter of instruction and a mission statement in an estate plan can go even further to help family members through a difficult period. This article explores what to include in a letter of instruction and a mission statement.
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Sec. 6166 – Estate tax relief for family businesses
September / October 2018
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 889
Abstract: Now that the gift, estate and generation-skipping transfer (GST) tax exemptions have more than doubled to an inflation-adjusted $11.18 million for 2018, fewer people are subject to transfer taxes than ever before. But these taxes continue to place a burden on families with significant amounts of wealth tied up in illiquid closely held businesses. This article explains how Internal Revenue Code Section 6166 can provide relief. A sidebar discusses whether Sec. 6166 can be used with real estate businesses.