IEP
Showing 177–192 of 384 results
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Estate Planning Pitfall – You’re transferring your home to your children
August / September 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 258
Abstract: Frequently, parents choose to transfer ownership of a home to their adult children to remove it from their taxable estates. There are many good reasons to do this, but the road is paved with tax potholes. This brief article explains the estate and income tax implications of transferring a home to a child.
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Making the most of your GST tax exemption
August / September 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 690
Abstract: To share wealth with grandchildren, great-grandchildren or even more remote generations, special planning may be required to keep generation-skipping transfer (GST) taxes to a minimum. When it comes to GST tax planning, the good news is that a significant GST tax exemption is available. But in some cases, automatic allocation rules that apply to the exemption can lead to undesirable results if one doesn’t opt out of them. This article details when the GST tax applies and discusses how to allocate the exemption.
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The write stuff: A letter of instructions
August / September 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 680
Abstract: When drafting an estate plan, the centerpiece is a will or living trust. Such a document determines who gets what, where, when and how, as well as tying up the loose ends of an estate. A valid will or living trust can be supplemented by other legally binding documents, such as trusts (or additional trusts), powers of attorney and health care directives. But there’s still a place at the table for a document that has absolutely no legal authority: a “letter of instructions” to one’s heirs. This article explains how this informal letter can provide valuable guidance and act as a road map to the rest of a person’s estate, while a sidebar looks at creating a family mission statement.
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Alternate valuation date – Flexible postmortem planning a plus when markets are volatile
August / September 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 853
Abstract: Many people may assume that filing a federal estate tax return is pretty cut-and-dried. The executor or professional representative completes the return, pays the requisite amount of tax, if any, and that’s the end of the matter. However, a savvy move by an executor might save a wealthy family hundreds of thousands of estate tax dollars by making a timely election to use the “alternate valuation date” for assets. This article explains the qualifications to make the election and offers a fictional example of how the election can work in beneficiaries’ favor.
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Estate Planning Pitfall – You’re blindsided by tax on intrafamily loans
June / July 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 258
Abstract: What’s worse than being taxed on income received? Having to pay tax on income never actually collected. That can happen if a family member borrows money from another loved one (an intrafamily loan) on an interest-free basis. In this situation, the lender may owe tax on “phantom income.” This brief article explains how to avoid this outcome.
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Social Security loopholes close, but options remain open
June / July 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 654
Abstract: The Bipartisan Budget Act of 2015 (BBA) closed two popular loopholes for future Social Security benefits. As a result, certain retirees may now realize less in the way of benefits during their lifetime and leave a smaller nest egg for their heirs. But astute planning can still maximize the Social Security benefits retirees are entitled to receive during their retirement years. This article examines how the BBA affects Social Security payments.
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Should life insurance be a part of your estate plan?
June / July 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 762
Abstract: Today, the federal gift and estate tax exemption stands at $5.45 million, so fewer families are facing estate tax liability. This begs the question: Can life insurance continue to play an important role in estate planning? The answer is: Yes. This article details why, even though a policy’s proceeds may no longer be necessary to provide liquidity to pay estate taxes, even nontaxable estates may have a need for a policy’s various other potential estate planning benefits.
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Portability is a thoroughly modern estate tax break
June / July 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 836
Abstract: Computers and phones aren’t the only things that are portable today. The gift and estate tax exemption is also “portable” for married couples. Portability simplifies estate planning by allowing a surviving spouse to use the deceased spouse’s unused portion of the $5.45 million gift and estate tax exemption amount. This article explains how married couples can use portability to their estate planning advantage.
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Estate Planning Pitfall – Your college-age child doesn’t have an estate plan
April / May 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 246
Abstract: In addition to essentials such as clothing, toiletries, bedding and a laptop, students heading off to college in the fall also should “pack” all the necessary financial and medical documents. This brief article details important estate planning documents every student should have.
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Donate art and secure a tax break
April / May 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 675
Abstract: Valuable works of art may be ideal candidates for charitable donation. Generally, it’s advantageous to donate appreciated property to avoid capital gains taxes. Because the top capital gains rate for art and other “collectibles” is 28%, donating art is particularly effective. This article answers key questions to keep in mind when donating art, including getting an appraisal, being cognizant of the related-use rule, and considering a fractional donation.
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Keying into your digital assets – Revise your estate plan to account for online documents
April / May 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 726
Abstract: In the not-so-distant past, one likely kept copies of vital estate planning documents locked in a fire-resistant vault or file cabinet, with copies at an attorney’s office. However, in this digital age, it’s more likely that legal documents and financial statements are being stored in online ledgers, including email transmissions from banks and other financial institutions. This article explores questions regarding the digital storage of documents and offers practical steps to help make it easier for family members to access digital files and accounts.
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Have you addressed elderly parents in your estate plan?
April / May 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 868
Abstract: Typically, an estate plan includes accommodations for one’s spouse, children, grandchildren and even future generations. But some members of the family can be overlooked, such as parents or in-laws. This article offers a five-step plan for adult children to incorporate their parents’ needs into their own estate plans. A sidebar notes the peril of making gifts without considering the impact they might have on any government benefits due to the recipient.
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Estate Planning Pitfall – You haven’t taken state estate taxes into account
February / March 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 328
Abstract: A generous gift and estate tax exemption means only a small percentage of families are subject to federal estate taxes. But it’s important to consider state estate taxes as well. Although many states tie their exemption amounts to the federal exemption, several states have exemptions that are significantly lower. This brief article explains how, in the eyes of the IRS, to successfully cut ties with one state and establish residency in another state with lower state estate taxes.
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Trusts and taxes – Understanding how one affects the other can benefit your estate plan
February / March 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 628
Abstract: Trusts typically are a main component of an estate plan. But many may not know how higher taxes can impact a trust’s overall effectiveness. This article explains how the current tax environment affects trust planning.
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Asset protection: Back to basics
February / March 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 640
Abstract: Asset protection trusts can be highly effective vehicles for protecting wealth in today’s litigious society. But these trusts can be complex and expensive, so they’re not right for everyone. For those seeking simpler asset protection strategies, there are several basic, yet effective, tools to consider. This article details five asset protection strategies.
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When interest rates are low, it’s high time for estate planning
February / March 2016
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 896
Abstract: Interest rates remain at record lows, and while many experts believe they’ll begin to rise soon, it’s likely they’ll rise slowly. So it’s an ideal time to implement estate planning strategies that are most effective in a low-interest-rate environment. This article examines several estate planning strategies to consider implementing in the near term. It also includes a brief discussion on charitable strategies that are most effective in a low-interest-rate environment.