Insight on Estate Planning
Showing 305–320 of 384 results
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Estate Planning Pitfall – You haven’t properly funded your living trust
April / May 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 337
Abstract: Probate can be costly and time consuming, and its public nature raises privacy concerns. An effective tool for avoiding probate is a revocable, or “living,” trust. It can also be used to manage assets if one becomes incapacitated. For it to work, one must transfer assets to it that would otherwise go through probate. Once the estate plan is complete, however, it’s easy to overlook the need to transfer later-acquired assets to the trust. This article explains the procedures for transferring assets, and which assets shouldn’t be transferred to a trust.
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TICs offer simple alternative to FLP, FLLC
April / May 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 739
Abstract: For affluent families, family limited partnerships (FLPs) and family limited liability companies (FLLCs) can be effective vehicles for reducing gift and estate taxes and protecting assets from creditors. But they also have some downsides. As this article explains, transferring tenancy in common (TIC) interests can be an attractive alternative for certain tangible assets — particularly real estate. But there are both pros and cons to this approach.
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Before walking down the aisle … Consider the benefits of a prenup
April / May 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 588
Abstract: Prenuptial agreements are commonly associated with divorce. And while such an agreement provides a couple control over assets in the event of a split, it can also preserve one’s estate by protecting assets from creditors and help ensure the estate is distributed according to the decedent’s wishes. This article explains how both prenuptial and postnuptial agreements may figure into estate planning.
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Digital assets – Does your estate plan account for today’s technology?
April / May 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 851
Abstract: Many people today conduct a good part of their business and personal lives electronically. These activities generate valuable “digital assets.” Without addressing these assets in an estate plan, one’s family or other representatives may not be able to access them without going to court and, in some cases, may not even know that they exist. This article explains why it’s so important to not overlook digital documents and the steps necessary to be sure they’ll be accessible by the appropriate people when the time comes. A sidebar lists several companies that offer online services for passing on digital assets to loved ones.
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Estate Planning Pitfall – You’re unsure whether life insurance proceeds will be tax free
February / March 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 220
Abstract: Typically, proceeds from life insurance policies are income-tax free. The bigger risk is that life insurance proceeds will be subject to estate taxes. This brief article discusses how having an irrevocable life insurance trust (ILIT) hold the policy can be a highly effective way to avoid estate taxes on life insurance proceeds.
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Can a SCIN allow you to reach estate planning goals?
February / March 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 642
Abstract: When creating or revising an estate plan, it’s important to consider the status of one’s health, because life span can affect certain strategies. Someone in good health doesn’t have to worry too much about the mortality risk inherent in, say, a grantor retained annuity trust. But someone whose health is on the decline and thinks they won’t reach their actuarial life expectancy should consider looking for alternatives with less mortality risk. This article considers a self-canceling installment note (SCIN) as an option.
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3 postmortem strategies that add flexibility to your estate plan
February / March 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 834
Abstract: In recent years, estate planning has been complicated by uncertainty over the future of the federal gift and estate tax regime. But even when estate tax rates and exemption amounts are predictable, changing family circumstances make planning a challenge. Fortunately, there are several postmortem strategies a family can use to ensure that the deceased’s wishes are carried out. This article takes a closer look at three such strategies: disclaimers, spousal right of election and QTIP trust.
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Tax Relief act provides temporary certainty for your estate plan
February / March 2011
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 960
Abstract: In recent years, estate planning has been a challenge. The recently enacted Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 provides welcome certainty in regard to estate planning, but only through 2012. This article looks at the estate tax regime that has been in effect since 2001, and how the new Tax Relief act affects it. A sidebar chart lists the specific exemptions and rates in effect for 2009 through 2013 for gift, estate and generation-skipping transfer (GST) taxes.
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Estate Planning Pitfall – You haven’t considered IRS rules when making a family loan
Year End 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 291
Abstract: Lending money to family members can be a great way to help them out without worrying about gift and estate tax liability. But before getting out the checkbook, it’s important to do a little planning to avoid some potentially significant tax pitfalls. This article describes the steps necessary to keep the IRS from considering a loan to be a gift, with the attendant tax consequences.
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The next steps – Putting to rest your deceased loved one’s affairs
Year End 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 691
Abstract: Losing a loved one can throw one’s life for a loop. And after the memorial service, it will likely be necessary to attend to the deceased’s estate and related legal and financial matters. But it can help ease the stress if one breaks the job into steps: locating important documents, inventorying assets and liabilities, and filing life insurance and Social Security claims. This article discusses the details, while a sidebar states the importance of contacting the deceased’s employer or business associates.
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How much is your life worth? Conduct a “valuation” before buying life insurance
Year End 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 597
Abstract: People tend to underestimate the amount of insurance they’ll need to provide for the financial security of their families, particularly when one spouse contributes significant nonwage value to the family. To determine the right amount of insurance, one should conduct a “valuation” of each family member’s life. While many will use a “rule of thumb” to make such calculations, this article offers a better method.
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Social Security: When’s the right time to start?
Year End 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 967
Abstract: Many people elect to begin receiving Social Security benefits as soon as they’re eligible, but that’s not always the best choice. There’s no magic formula for deciding when to begin receiving Social Security benefits, but this article discusses a few factors to consider — such as expected lifespan, when or if one retires, and tax considerations. A chart shows when the standard retirement age begins (depending on one’s year of birth) and the percentage of the standard benefit one will receive if collecting benefits before or after that age.
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Estate Planning Pitfall – You’re planning to name a family member as executor of your estate
October / November 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 250
Abstract: There’s nothing to prevent a person from naming their spouse, a child or another family member as executor of their estate. But it’s important to be sure to consider how this decision may affect loved ones. This article explains the particular tasks an executor is expected to carry out.
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Will health care reform breathe new life into HSAs?
October / November 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 800
Abstract: Health Savings Accounts (HSAs) survived the health care overhaul largely intact and may prove to be a valuable tool for reducing health care costs. And because unused HSA balances grow on a tax-deferred basis — similar to an IRA — they can also serve as an additional weapon in one’s estate planning arsenal. This article discusses the basics about HSAs, including their benefits and contribution limits, and mentions two changes to HSAs that take effect in 2011. It also explores the estate planning implications of HSAs.
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Life’s changes beget plan revisions – Disinheriting a child is a difficult, but sometimes necessary, decision
October / November 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 599
Abstract: Because circumstances change over time, an estate plan isn’t a static document. It’s meant to be revised. And that includes instances in which it may seem necessary to disinherit a child. This article discusses the steps involved and how to protect an estate plan from the legal challenge a disinherited child might attempt. A sidebar explains that disinheriting a spouse can be much more difficult.
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Giving: A timeless estate planning strategy
October / November 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 944
Abstract: Although currently there’s no federal estate tax, it’s scheduled to rear its head again in 2011. Congress is expected to intervene, but no one is certain what changes will or won’t be made. This makes estate planning especially challenging. But, even in this environment, a tried and true strategy to reduce potential estate tax liability is making tax-free — or even taxable — gifts. This article discusses the various giving options available, while a sidebar shows why it can be advantageous to make a taxable gift — though it’s not without some risk.