Estate Planner
Showing 337–352 of 384 results
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Estate Planning Red Flag – A minor is a beneficiary of your life insurance policy
November / December 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 292
Abstract: Most estate plans include one or more life insurance policies as a source of liquid funds and additional wealth. A common, but costly, mistake people make is to name a minor child or grandchild — or a legally incompetent adult — as beneficiary. Doing so can lead to several problems, as this short article describes.
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Trust your trustee – Choosing a trustee who will carry out your final wishes
November / December 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 619
Abstract: Avoiding probate is a common estate planning objective. One option to help achieve this goal is to establish a living trust, also commonly referred to as a “revocable” or “inter vivos” trust. A living trust allows the transfer of assets to the trust and provides instructions for the distribution of assets after the donor’s death. But it’s necessary to select a trustee to oversee and administer the trust at that time. There are specific duties a trustee must perform, and two types of trustees to consider.
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Transferring the family business – Using a CLAT can benefit charity and your family
November / December 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 1004
Abstract: A family business owner with philan¬thropic aspirations may have a lot of wealth tied up in the business, making it difficult to give to charity without tapping those assets. At the same time, it can be hard for a donor to retain control of the business during life and to keep the business in the family after death while minimizing estate taxes. One solution worth considering is a charitable lead annuity trust (CLAT). By using a testamentary CLAT (T-CLAT) to hold business interests and then sell those interests to the family, donors can achieve both their business succession and philanthropic goals. A sidebar offers an example of a CLAT in action.
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Is now a good time for a QPRT?
November / December 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 665
Abstract: A qualified personal residence trust (QPRT) allows the transfer of a home to children or other family members at a deeply discounted value for gift tax purposes, while allowing the donor the right to live in the home for a set number of years. QPRTs, unlike many estate planning techniques, are generally most effective when interest rates are high. Although interest rates have been low in recent months, the timing may still be right for a QPRT because real estate values are depressed. But it depends on the current value of a home and the current IRS Sec. 7520 rate, as well as the donor’s life expectancy.
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Estate Planning Red Flag – Your child is on the title to your home or other assets
September / October 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 353
Abstract: One of the most common, and costly, estate planning mistakes is to own property jointly with one’s child. Many people hold property — such as homes, bank accounts, investments or automobiles — with their children as joint tenants with right of survivorship. Their goal is to avoid probate and to ensure that when they die the property is transferred to their children automatically without the need for a trust or other estate planning vehicle. But there are many problems with this approach. Fortunately, they can be avoided with properly drafted trusts.
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It’s intentionally defective? How an IDGT can benefit your estate plan
September / October 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 611
Abstract: Despite its somewhat odd sounding name, an intentionally defective grantor trust (IDGT) can help one realize significant gift and estate tax savings. Combining the estate tax benefits of an irrevocable trust with the income tax advantages of a grantor trust, an IDGT removes assets from one’s estate, but it’s treated as a grantor trust for income tax purposes. This can substantially increase the amount of wealth that beneficiaries receive without triggering additional gift or estate taxes. And, IDGTs can be an ideal vehicle for selling assets that have appreciated in value and are expected to continue appreciating.
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The Roth IRA: Is it time to convert?
September / October 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 683
Abstract: Someone who has a significant balance in a traditional IRA may find that it makes sense from an estate planning perspective to convert it to a Roth IRA. For many, the Roth offers a number of specific advantages. However, due to the law’s current (but soon to expire) income limitations and depending on one’s personal situation, a conversion will be most advantageous if made at the right time: either now, in 2010, or in stages over two or more years.
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FAQs about donating real estate
September / October 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 938
Abstract: Making charitable donations during life or at death removes assets from one’s estate and thus reduces any potential estate tax liability. But those who would like to make a significant charitable contribution, yet who are “property rich and cash poor,” might feel that they don’t have a good way to do so. But there are ways. This article answers some frequently asked questions about contributions of real estate: What are the tax benefits? Does donating property still make sense in this dismal real estate market? Can one donate a portion of the property? Are there limits on the charitable deduction? And what tax traps may be lurking? A sidebar discusses the benefits of donating conservation easements.
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Estate Planning Red Flag – You’re planning required minimum distributions from your retirement accounts
July / August 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 410
Abstract: If you’re planning to take required minimum distributions (RMDs) at the end of this year from your IRA, 401(k) or other tax-deferred retirement-savings account, check with your tax and estate planning advisors first. Under a tax law passed late last year, you may be able to skip RMDs this year. This short article discusses the law’s provisions.
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What are these assets worth? Valuation is critical to your estate plan
July / August 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 543
Abstract: If you make substantial noncash gifts or charitable donations, it’s critical to have the property valued by a qualified appraiser to protect you against IRS challenges that could result in some unpleasant tax surprises. This article discusses steps you should take to avoid an IRS challenge that could result in penalties as high as 40% of an asset’s value.
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Do-it-yourself estate planning can lead to costly mistakes
July / August 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 802
Abstract: If you’re interested in preparing your own estate plan, there’s no shortage of software, how-to books, preprinted forms and online services to assist you. Do-it-yourself (DIY) estate planning may save you a few hundred dol¬lars, or even a few thousand dollars, up front. But except in the simplest cases, the risk of unintended results or costly disputes is too great to justify the initial savings. This article looks at one hypothetical example, and one real-life court case, to show why.
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It’s time to make gifts – The struggling economy may allow you to save gift and estate taxes
July / August 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 1052
Abstract: Estate planning opportunities are a silver lining among today’s dark economic clouds. Depressed asset values and low interest rates may allow you to gift more to your loved ones at a significant gift tax savings, removing substantial wealth from your taxable estate. Some of the most effective gifting strategies involve the use of trusts. Or you might transfer interests in a family business or other closely held company using a family limited partnership (FLP) or a family limited liability company (FLLC). But, as a sidebar explains, Congress is considering new restrictions on FLPs and FLLCs. Also, when gifting property, you will need to consider income taxes as well as gift and estate taxes.
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Estate Planning Red Flag – You make (or receive) “deathbed” gifts
May / June 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 274
Abstract: Making annual exclusion gifts is an effective way to reduce a person’s taxable estate. But if such gifts aren’t “completed” before the person’s death, they could be subject to estate taxes. This short article explains how a gift is “completed.”
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Family split-dollar arrangement can ease gift taxes
May / June 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 704
Abstract: One of the most effective techniques for avoiding estate taxes on life insurance proceeds is to set up an irrevocable life insurance trust. If a person pays the premiums on the policy, however, there may be gift tax consequences. A properly structured split-dollar arrangement may solve this problem. This article details the ins and outs of a split-dollar strategy.
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10 tips for choosing a guardian
May / June 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 1106
Abstract: The selection of a guardian can have a profound impact on a child, so it’s important to choose carefully. If a person is hesitant to name a guardian for his or her children, a court will name one. Thus, it’s one of the most important estate planning decisions a person can make. This article lists 10 tips to help people make the right decision.
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Protecting your assets against fraud and ID theft
May / June 2009
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 852
Abstract: Wealth preservation typically focuses on protecting assets against creditors’ claims and lawsuits, but it’s also important to protect wealth from erosion by fraud and identity theft. There’s a common misconception that fraud victims usually are unsophisticated, but there’s no shortage of sophisticated investors who’ve been seduced by the promise of generous returns. And, according to the Federal Trade Commission, 10 million people fall victim to ID theft every year. This article offers safeguards against fraud and ID theft.