In This Issue:
- Time passages: Estate planning through the years
- Basis consistency rules come into play when inheriting property
- Estate tax laws continue to change; so should your plan
- ESTATE PLANNING...more
2/2/2019
/ Business Succession ,
Capital Gains Tax ,
Durable Power of Attorney ,
Estate Planning ,
Estate Tax ,
Fair Market Value ,
Gift Tax ,
Inheritance ,
Property Valuation ,
Real Estate Transfers ,
Tax Cuts and Jobs Act ,
Wills
When it comes to gifting strategies, there are many to choose from. One such option is to make direct payments of tuition and medical expenses. This brief article provides the specifics of how this strategy works....more
In This Issue:
- Don’t be afraid of probate
- Smart estate planning begins with protecting your assets
- Thinking long term: Don’t overlook long-term care planning
- ESTATE PLANNING PITFALL: You’re not making direct...more
12/3/2018
/ Asset Protection ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Gift Tax ,
Gift-Tax Exemption ,
Long-Term Care ,
Medical Expenses ,
Probate ,
Tuition ,
Year-End Planning ,
Year-End Tax Planning
NINGs, DINGs and WINGs are the names bestowed on certain self-settled trusts (sometimes referred to as nongrantor trusts) in states providing a favorable tax environment for these trusts. This article explains how Nevada...more
In This Issue:
- Who needs an estate plan? Quick answer: Everyone
- NINGs, DINGs and WINGs: Understanding the tax angles of self-settled trusts
- Securities laws can derail your estate plan
- ESTATE PLANNING...more
10/1/2018
/ 401k ,
Accredited Investors ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Gift Tax ,
Individual Retirement Account (IRA) ,
Investment Funds ,
Nongrantor Trusts ,
Private Funds ,
Probate ,
Revocable Trusts ,
Tax Cuts and Jobs Act ,
Trusts ,
Unregistered Securities ,
Wills
The Tax Cuts and Jobs Act provides greater flexibility in estate planning for many taxpayers. So, no more estate tax worries for most people, right? Not so fast. For residents of some states, state estate or inheritance taxes...more
The Tax Cuts and Jobs Act (TCJA) will have a significant impact on estate planning and related aspects, such as charitable giving. Even though the TCJA reduces tax incentives for making charitable donations for some people,...more
7/31/2018
/ Charitable Donations ,
Charitable Remainder Trust ,
Charitable Rollover ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Gifts ,
Securities ,
Standard Deduction ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Incentives
Given the substantially increased combined gift and estate tax exemption amount established by the Tax Cuts and Jobs Act, now is the time to re-examine lifetime gift-giving strategies. This brief article explains why making...more
There are many good reasons to move abroad, such as retirement or to begin a new career. But before finalizing plans, a thorough review of financial and estate plans is in order. This article answers key estate planning...more
Somewhat lost in the clamor of the tax changes enacted by the Tax Cuts and Jobs Act is the fact that the new law preserves the “portability” provision for married couples. Portability allows an estate to elect to permit the...more
6/8/2018
/ American Taxpayer Relief Act of 2012 (ATRA) ,
Estate Planning ,
Estate Tax ,
Generation-Skipping Transfer ,
Gift Tax ,
Portability ,
Surviving Spouse ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exemptions ,
Tax Planning ,
Tax Relief Act of 2010 ,
Transfer of Assets
In This Issue:
- Tax Cuts and Jobs Act supercharges exemption portability
- Buy-sell agreements: When a smart business decision also makes estate planning sense
- Picking up stakes: Understand the tax and estate...more
Vacation homes are typically treasured by families and often pass down from generation to generation. But there may be more to transferring the family lake cottage or beach house than first meets the eye. If one plunges ahead...more
In This Issue:
- Sudden impact: When a spouse unexpectedly dies
- New tax law affects estate planning strategies
- All in the family: Transferring your vacation home
- Estate planning pitfall: You haven’t planned for...more
2/7/2018
/ 529 Plans ,
Death Certificates ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Gift-Tax Exemption ,
Long-Term Care ,
Real Estate Transfers ,
Surviving Spouse ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Rates ,
Tax Reform ,
Vacation Homes
As of this writing, it’s still anybody’s guess as to whether Congress will enact major tax reform legislation affecting federal gift and estate taxes. This situation casts a large shadow over estate planning at the end of...more
12/6/2017
/ Beneficiaries ,
End-of-Life-Care ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Living Will ,
Power of Attorney ,
Tax Reform ,
Trump Administration ,
Trusts ,
Wills ,
Year-End Planning
If a person expects to receive an inheritance from a family member, he or she might choose to use a qualified disclaimer to refuse the bequest. As a result, the assets will bypass their estate and go directly to the next...more
What with changing life circumstances and new tax laws, not to mention potential mistakes made when an estate plan was first drafted, the trusts used in the plan may now be “broken.” This article details why trusts break and...more
How can a person reduce the size of his or her taxable estate? There are many ways to accomplish this objective, including the use of irrevocable trusts and other sophisticated estate planning techniques. But one of the most...more
Gift giving made easy -
Annual exclusion reduces your taxable estate -
How can you reduce the size of your taxable estate? There are many ways to accomplish this objective, including the use of irrevocable trusts...more
10/3/2016
/ Beneficiaries ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Individual Retirement Account (IRA) ,
Penalties ,
Pets ,
Power of Attorney ,
Required Minimum Distributions ,
Tax Exemptions ,
Trusts
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...more
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?...more
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...more
Affluent families who wish to make large lifetime gifts should consider using defined-value clauses or other formula clauses to minimize or eliminate gift taxes. This article discusses why these clauses are especially...more
A common estate planning mistake that many people make is to own property jointly with a child or other family member. True, adding a loved one to the title of your home, bank account or other property can be a simple...more
In This Issue:
- The net investment income tax and your estate plan: How one affects the other
- Use a noncharitable purpose trust to achieve a variety of goals
- Addressing adopted children or stepchildren in your...more
10/5/2015
/ Adopted Children ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Income Taxes ,
Inheritance ,
Jointly-Owned Property ,
Modified Adjusted Gross Income ,
Net Investment Income ,
Noncharitable Purpose Trusts ,
Stepchildren ,
Trusts
Lifetime giving is a smart strategy to reduce a taxable estate, but the gift tax rate of 40% is steep. If one has used up his or her $5.43 million gift and estate tax exemption and would like to potentially reduce his or her...more