Tax / Estate & Wealth Planning
Showing 1617–1632 of 2177 results
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Till death do us part – Settling a spouse’s financial affairs
May / June 2013
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 928
Abstract: Because the days or weeks immediately following the death of a partner are an emotionally charged time, new widows and widowers usually should avoid making any major financial decisions during that period. Eventually, however, the surviving spouse will need to get on with the job of settling the other spouse’s financial affairs. This article takes a look at collecting the necessary documents; claiming insurance, employee or government benefits; and updating account registrations and property titles. Then, as a sidebar explains, it’s time to update one’s own financial plan.
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Do your portfolio returns measure up?
May / June 2013
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 544
Abstract: It’s disappointing to find that the value of one’s portfolio isn’t keeping pace with stock market gains. While that feeling is understandable, it’s important to make sure that performance is being measured correctly. This article examines how to evaluate the performance of investments relative to other investments or a benchmark index.
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Estate Planning Red Flag – Your plan includes a charitable lead trust
May / June 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 300
Abstract: A charitable lead trust (CLT) makes annual payouts to a qualified charity for a specified period or for the grantor’s life. The remainder interest then passes to the grantor’s heirs or other noncharitable beneficiaries. Last year, the IRS finalized regulations that affect the way CLTs are taxed. As a result, they may be less attractive than before. This article explains the details.
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Decant a trust to add trustee flexibility
May / June 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 599
Abstract: This article discusses “John,” who is the trustee of his deceased brother’s irrevocable trust. In light of the recently enacted estate tax laws, as well as changing circumstances surrounding his brother’s family, John would like additional flexibility in adapting the trust to the new laws and evolving family situation. One of his options is to decant the trust. Decanting would allow him to use his distribution powers to “pour” funds from the trust into another trust with different terms. Even though this strategy is permitted in many states, decanting laws can vary dramatically among them. The article discusses some common differences.
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Using the GST tax exemption to build a dynasty
May / June 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 612
Abstract: Those wishing to preserve their wealth for generations to come will need to leverage their generation-skipping transfer (GST) tax exemption. To ensure that the exemption goes as far as possible, it’s important to allocate it wisely. The American Taxpayer Relief Act of 2012 made permanent several GST tax-related provisions, including the automatic allocation rules. Understanding these rules — and when to opt out — can help focus the exemption where it will do the most good. This article shows that, with careful planning, it’s possible to create a “dynasty trust” — a trust that continues for several generations.
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Exemption portability: Should you rely on it?
May / June 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 950
Abstract: One of the significant changes under the American Taxpayer Relief Act of 2012 was to make estate tax exemption “portability” permanent. When one spouse dies, portability allows the surviving spouse to use the deceased spouse’s unused exemption amount. Portability simplifies estate planning, but, for many people, particularly the affluent, more-sophisticated strategies continue to offer significant benefits. This article takes a look at credit shelter trusts, with a sidebar offering a specific example.
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Nonspouse IRA beneficiaries
May 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 466
Abstract: It is increasingly common for individuals to become entitled to some or all of the balance in a deceased account owner’s traditional IRA or Roth IRA by virtue of being designated as an account beneficiary. But, if the beneficiary is not the deceased’s spouse, it is not possible for them to receive their share of the inherited IRA balance and then roll it over tax-free into their own IRA before the familiar 60-day deadline for rollovers has passed. But this article explains that there are ways to finesse the “no-rollover-allowed rule” so as to take control of a share of an inherited IRA without adverse tax consequences.
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Qualified plan distributions exempt from the NIIT
May 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 481
Abstract: Beginning in 2013, a new 3.8% net investment income tax (NIIT) applies to the net investment income of high-income taxpayers. This article explains the income thresholds, the types of income subject to the tax, and retirement plan distributions that are not subject to the NIIT.
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Increased Medicare payroll tax
May 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 379
Abstract: The Medicare payroll tax is the primary source of financing for Medicare, which generally pays medical bills for individuals who are 65 or older or disabled. Wages paid through Dec. 31, 2012, were subject to a 2.9% Medicare payroll tax. Workers and employers pay 1.45% each. Beginning in 2013, individuals who have wage and/or self-employment income exceeding certain thresholds are subject to an additional 0.9% Medicare tax (that is, 2.35% total) on their earned income exceeding the applicable threshold. This article discusses the tax as it affects different categories of filers.
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Tax breaks for families and students
May 2013
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 316
Abstract: Recent legislation made permanent or extended several tax breaks for families. In addition, several education breaks were made permanent or extended. This article describes a number of them.
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Tax Tips – Don’t miss filing deadlines
March / April 2013
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 408
Abstract: This issue’s “Tax Tips” shows why dropping a tax return in the mailbox on the deadline date is not a guarantee that the return is “timely filed” — and how taxpayers can make sure it is. It also looks at why failing to comply with Internal Revenue Code Section 409A rules can result in accelerated tax liability and stiff penalties in regard to severance plans. And it notes tax benefits for both employers and employees when the owners allow employees to donate unused leave in exchange for employer cash contributions to eligible disaster relief organizations.
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Using financed net gifts to reduce taxes
March / April 2013
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 645
Abstract: Those who have used up their lifetime gift tax exemption may want to consider other wealth transfer techniques. One that’s often overlooked is the financed net gift, in which the recipient of the gift agrees to pay the gift tax, financed by a loan from the donor. This article shows how a net gift saves taxes, and how a financed net gift can preserve the full value of the gifted assets.
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Cost segregation studies: A way to get faster write-offs
March / April 2013
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 588
Abstract: For years, many business owners have taken advantage of cost segregation studies to help them accelerate depreciation deductions on their properties. These studies identify property components and their costs, thus enabling owners to use shorter lives and faster depreciation rates — resulting in substantial tax savings. This article discusses how cost segregation studies work and how the depreciation rules apply.
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Saving for college? Section 529 plans offer a variety of tax benefits
March / April 2013
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 831
Abstract: Of all the vehicles available for college savings, Section 529 plans are perhaps the most versatile. They’re available to anyone, regardless of income level. They offer generous contribution limits. And they provide significant income tax and estate planning opportunities. This article focuses on the income and estate planning benefits of college savings plans, while a sidebar looks at prepaid tuition plans.
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Estate Planning Pitfall – You’ve named a minor as beneficiary of your life insurance policy or retirement plan
April / May 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 250
Abstract: A common estate planning mistake is to designate a minor as beneficiary — or contingent beneficiary — of a life insurance policy or retirement plan. This brief article discusses why it’s better to designate one or more trusts as beneficiaries of the policy or plan.
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The key to an effective trust is education
April / May 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 523
Abstract: A trust is a versatile estate planning tool. But no matter how well it’s designed and drafted, a trust won’t reach its full potential unless all of the stakeholders — grantor, trustee and beneficiaries — understand the trust’s goals and their roles in achieving them. This article explains the importance of each type of stakeholder being educated as to their responsibilities.