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Showing 257–272 of 380 results

  • Estate Planning Red Flag — You’re married and relocating into or out of a community property state

    January / February 2013
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 446

    Abstract: In community property states, money earned and property acquired by either spouse during marriage generally belongs to the "community" — meaning each spouse has an undivided one-half interest (regardless of how property is titled). When one spouse dies, his or her share of community property goes to the surviving spouse unless a will provides otherwise. But couples who relocate to or from a community property state may find that the new state’s laws affect their property rights in unexpected ways. This article explains the importance of modifying a will or using trusts or other tools to ensure that an estate plan continues to operate as desired.

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  • Planning your digital legacy

    January / February 2013
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 689

    Abstract: In an increasingly digital world, people often overlook digital assets when developing an estate plan, and the consequences can be disastrous. With no paper trail, a decedent’s family members may be unaware that certain assets exist, or may need a court order to have someone hack into a password-protected computer. Or, if a small-business owner dies and his or her family lacks access to important information, the business may suffer. This article discusses strategies for ensuring that family or personal representatives have access to important records when the time comes.

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  • Are your children prepared to handle your wealth?

    January / February 2013
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 837

    Abstract: Parents who have built up a large estate and are eager to share their wealth with their children may be concerned about the kids’ ability to handle it. Fortunately, there are ways to help ensure children won’t blow through their inheritance at a young age. This article discusses creating incentive trusts, educating children on money management, being smart with distributions to them, and communicating with them about the reasons behind the decisions taken.

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  • Tax deal reshapes estate planning landscape

    January / February 2013
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 956

    Abstract: The American Taxpayer Relief Act of 2012 (ATRA), signed on Jan. 2, not only averted the United States’ descent over the "fiscal cliff," but includes some welcome relief from both the large estate tax increases that had been scheduled to go into effect in 2013 and the uncertainty that has plagued the federal estate tax regime in recent years. This article examines the act’s effect on estate, gift and generation-skipping transfer (GST) tax rates and exemptions; exemption portability; and other estate planning provisions. A sidebar notes that the act makes it easier to convert a traditional retirement plan account into a Roth account.

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  • Estate Planning Red Flag — You haven’t prepared a health care directive

    November / December 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 292

    Abstract: A health care directive allows one to communicate their preferences, in advance, for medical care in the event they’re incapacitated. Directives go by different names, including living wills, advance medical directives and directives to physicians. This article shows what such directives can accomplish and why generic forms may not accommodate one’s preferences and values.

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  • Get ready for the new 3.8% tax on investment income

    November / December 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 641

    Abstract: The Patient Protection and Affordable Care Act of 2010 established a new 3.8% Medicare tax on investment income for high-income taxpayers, which is scheduled to take effect in 2013. The tax will also apply to trusts and estates, and the income threshold that triggers the tax for them is low. This article offers details of the tax and shows how to minimize or eliminate it.

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  • Determining when to begin receiving Social Security

    November / December 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 776

    Abstract: When to begin receiving Social Security benefits depends on each person’s individual circumstances. Estate planning also factors into the equation. For example, the amount of funds that a couple needs to continue their desired lifestyle during retirement will affect the amount of wealth they ultimately are able to pass on to their heirs. This article shows how to determine a break-even point — the age at which the dollar value of more (but smaller) payments roughly equals the value of fewer (but larger) payments. It also notes the consequences of drawing early Social Security benefits while still working.

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  • Can’t afford estate taxes? Get an intrafamily loan

    November / December 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 918

    Abstract: If an estate consists primarily of closely held business interests, real estate or other illiquid assets, it may not have the liquidity it needs to pay estate taxes and other expenses. Life insurance is one option, but another is to borrow the necessary funds. This article shows how borrowing can reduce estate taxes, and notes the requirements for an estate to be able to deduct interest. It also shows how to ensure that an intrafamily loan is a bona fide loan in the view of the IRS. A sidebar offers a real-life example of a loan that did not pass muster.

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  • Estate Planning Red Flag — You haven’t recently reviewed your retirement plan beneficiary designations

    September / October 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 343

    Abstract: No matter how carefully one plans their estate, their objectives can easily be thwarted by inappropriate beneficiary designations for IRAs, 401(k) plans or other retirement accounts. This article lists some of the most common mistakes, such as designating one’s estate as beneficiary or not updating beneficiary designations after a divorce.

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  • Asset valuation: A key component of your estate plan

    September / October 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 567

    Abstract: When one makes a noncash gift, a professional valuation can reduce the chances that the IRS will challenge the gift tax return, thus decreasing the possibility of unplanned tax liability. This article examines the three-year statute of limitations during which the IRS can challenge the value that’s reported on a gift tax return, along with the penalties for making “substantial” or “gross” misstatements.

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  • Are you part of a nontraditional couple? — Unmarried and same-sex married couples face estate planning hurdles

    September / October 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 820

    Abstract: The federal gift and estate tax laws, as well as the laws in most states, were designed with “traditional” marriages between a man and woman in mind. For those who don’t fall within that category because they and their partner aren’t married or because they’re part of a same-sex marriage, thorough planning is required to meet their estate planning goals. This article looks at the legal environment as it pertains to same-sex marriages, the importance of estate planning documentation for nontraditional couples, and gifting strategies.

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  • Mining the generation gap — Estate planning strategies for you and your parents

    September / October 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1159

    Abstract: Shifting income to family members in lower tax brackets can be a powerful tax-reduction strategy that applies not only to children, but to parents as well. As this article explains, under some circumstances it can be beneficial to transfer appreciated, income-producing assets to parents with the understanding that they’ll be returned upon the parents’ deaths. Another is to have them convert or roll over traditional IRA or qualified retirement plan balances into a Roth IRA. A sidebar discusses the expansion of the “kiddie tax.”

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  • Estate Planning Red Flag — You and your spouse have a joint revocable trust

    July / August 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 425

    Abstract: In both community and non-community-property states, joint trusts offer many of the same benefits as separate trusts — including probate avoidance, guardianship avoidance, privacy, and asset management in the event of a spouse’s incapacity. But they don’t provide the same level of creditor protection as separate trusts. As this article explains, those living in a community property state should weigh the asset protection benefits offered by separate trusts against a joint trust’s tax benefits. And those living in a non-community-property state also need to consider the potential tax pitfalls of a joint trust.

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  • No time like the present — With favorable estate tax and real estate environments, use a QPRT to give away your home

    July / August 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 732

    Abstract: A qualified personal residence trust (QPRT) can be an effective tool for transferring a home to children or other family members at the lowest possible tax cost — while continuing to live in it. And given the current favorable estate tax environment and depressed real estate market, now may be the ideal time to establish one. This article explains the benefits of QPRTs and lists several factors that have created a favorable environment for them.

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  • Owning life insurance can make estate planning complicated

    July / August 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 585

    Abstract: A life insurance policy can be an important part of an estate plan. The policy can provide a source of wealth for one’s family income-tax-free, and it can supply funds to pay estate taxes and other expenses. However, those who own their policy, rather than having, for example, an irrevocable life insurance trust (ILIT) own it, will have to take extra steps to keep the policy’s proceeds out of their taxable estate. As this article explains, an irrevocable grantor trust can be one way of doing that.

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  • Is your estate plan flexible? — Estate tax law uncertainty requires options

    July / August 2012
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1180

    Abstract: Absent congressional intervention, on Jan. 1, 2013, exemptions will greatly decrease and tax rates greatly increase. Many people are taking advantage of the current generous gift tax exemption by shifting as much wealth as possible to their heirs this year. But it’s also important to build flexibility into an estate plan so that it can be quickly adapted to future changes in the law. This article discusses two options in particular: the qualified disclaimer and the credit shelter trust. A sidebar explains why, when using the latter tool, it’s important to carefully draft formula clauses to ensure that they account for every possible contingency.

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