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Showing 273–288 of 332 results

  • Ready to buy a new home? If so, consider using a joint purchase to ease estate tax liability

    May / June 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 733

    Abstract: If one wants to buy a home that will eventually pass to the children, a joint purchase can be a good way to ease estate taxes, provided the children have sufficient funds to finance their portion of the purchase. This article covers how a joint purchase works, as well as its advantages and disadvantages.

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  • Estate planning red flag – Your estate plan doesn’t contain a no-contest clause

    May / June 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 299

    Abstract: It’s not uncommon for heirs to contest the terms of wills and living trusts. This short article explains how a no-contest clause — which threatens to disinherit a beneficiary who unsuccessfully challenges a will or trust — can help, even for those residing in states that don’t enforce such clauses.

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  • Estate planning for digital assets

    May / June 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 624

    Abstract: Today, many people conduct their transactions online and have accumulated significant “digital assets” that require special consideration in their estate plan. This article looks at how the lack of a paper trail can create problems after a person dies in terms of both locating and accessing assets. It also provides suggestions for securely documenting such information for heirs.

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  • Donating life insurance – Turbocharge your charitable gifts

    May / June 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 870

    Abstract: Donating a life insurance policy to charity can be a powerful strategy to achieve philanthropic goals. It allows a person to make larger gifts than he or she might otherwise afford, while generating current tax benefits. This article discusses when donating a policy can make sense, as well as the most tax-effective way of doing so. A sidebar touches on options such as charitable gift annuities and wealth replacement.

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  • Estate Planning Red Flag – You’ve recently divorced and haven’t reviewed your estate plan

    March / April 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 240

    Abstract: It’s important that those who have recently divorced review their estate plan to be sure that it doesn’t confer any unintended benefits or rights on their former spouse. This article offers several questions to consider involving jointly held assets, beneficiary designations, powers of attorney, and trusts.

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  • Mission control – Family mission statement promotes a harmonious estate plan

    March / April 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 506

    Abstract: Building and preserving family wealth isn’t an end in itself. Rather, it’s a tool for promoting shared family values — such as philanthropy, education, financial security, quality of life — or encouraging family members to lead responsible, productive, healthy lives. Drafting a family mission statement can be an effective way to define and communicate these values. This article discusses what should be involved in setting up a statement, and what it should cover.

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  • Balancing risk and reward – A self-canceling installment note can benefit your estate plan under certain circumstances

    March / April 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 704

    Abstract: It can be difficult to determine how to pass assets on to loved ones at the lowest possible tax cost. One option to consider is a self-canceling installment note (SCIN). Using a SCIN involves selling a business or other assets to children or other family members (or to a trust for their benefit) in exchange for an interest-bearing installment note. The “self-canceling” feature means that a buyer’s death during the note’s term relieves him or her of any future payment obligations. A SCIN offers a variety of valuable tax benefits, but there are risks involved, as well.

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  • Is your buy-sell agreement doing its job?

    March / April 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 1054

    Abstract: A buy-sell agreement should be a fundamental part of an estate plan for those who own an interest in a family or closely held business. After a “triggering event,” it gives the company or the remaining owners the right or the obligation to buy a departing owner’s interest. But a buy-sell agreement can take the form of a cross-purchase or a redemption agreement (or a hybrid of the two). The right type of agreement and the specific provisions that should be included depend on several tax and practical business factors involving taxes, management control and valuation. A sidebar to this article lists the criteria necessary for a buy-sell agreement to establish the value of a business interest for estate tax purposes.

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  • Estate Planning Red Flag – You haven’t reviewed your estate plan recently

    January / February 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 235

    Abstract: The Economic Growth and Tax Relief Reconciliation Act of 2001 created a one-year estate tax repeal for 2010. It’s not likely to remain in effect, though. Although Congress had not yet passed legislation by the end of 2009 repealing the repeal, it might still pass such legislation and make it retroactive to Jan. 1, 2010. Besides this, there are a number of other reasons to update one’s plan.

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  • Being elastic can be fantastic – Stretch your retirement savings for yourself and your heirs

    January / February 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 804

    Abstract: Those with savings in a traditional IRA, a 401(k) plan or another “qualified” retirement account must begin taking required minimum distributions (RMDs) when they reach age 70½. But it’s usually best to let them continue compounding on a tax-deferred basis (or tax-free in the case of Roth accounts) as long as possible. Fortunately, there are several strategies one can use to stretch tax savings over many years. Beginning in 2010, converting a traditional IRA to a Roth IRA will be an option for people of all income levels. One can also roll over a Roth 401(k) or Roth 403(b) to a Roth IRA. And a “stretch” IRA allows one to provide heirs with the opportunity to stretch distributions over many years. But these all have pros and cons that must be considered.

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  • A blended family requires smart estate planning

    January / February 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 515

    Abstract: If a person is married and has children from a previous marriage plus children or stepchildren from his or her current marriage, that family is considered a blended family. For those who wish to pass their wealth on to all of their biological children but also provide for their spouse and perhaps any stepchildren, estate planning can get tricky. Two estate planning strategies to consider involve a qualified terminable interest property (QTIP) trust and an irrevocable life insurance trust (ILIT).

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  • Do you have a liquidity plan?

    January / February 2010
    Newsletter: Estate Planner

    Price: $225.00, Subscriber Price: $157.50

    Word count: 948

    Abstract: A liquidity plan is an essential component of an effective estate plan, particularly if a substantial amount of wealth is tied up in a closely held business, real estate or other illiquid assets. It won’t be possible to achieve estate planning goals without liquidity to pay estate taxes and other expenses. An irrevocable life insurance trust (ILIT) or buy-sell agreement are options; if these do not provide enough cash, borrowing from a bank or receiving an extension from the IRS may be alternatives. A sidebar to this article discusses Internal Revenue Code Section 6166, which allows an executor to defer estate taxes associated with a qualifying closely held business.

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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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