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Showing 97–112 of 384 results
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Estate Planning Red Flag – Your will or trust lacks clarity
November / December 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 296
Abstract: Precise language is critical in wills, trusts and other estate planning documents. A lack of clarity is an invitation to litigation, as demonstrated by the ongoing dispute between Tom Petty’s widow and his two daughters from a previous marriage. This brief article uses the Petty case to illustrate the importance of using unambiguous language to ensure that one’s wishes are properly carried out.
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ABLE accounts and special needs trusts – 2 options for families with disabled loved ones
November / December 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 575
Abstract: For those with a family member who’s disabled, estate planning can be difficult. Two options to consider are a special needs trust (SNT) or a Section 529A account, often referred to as an ABLE account, because it was created by the Achieving a Better Life Experience (ABLE) Act. This article details the pluses and minuses of an SNT and an ABLE account.
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Estate planning and your art collection
November / December 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 730
Abstract: For art collectors, it’s critical that their estate plans address their collections separately from other types of assets. Investments in artwork may be motivated in part by financial gain, but for most collectors the primary motivation is a passion for the art itself. As a result, managing these assets involves issues that aren’t presented by purely financial assets. This article details how to address an art collection in an estate plan.
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What’s a clawback ― and should you be worried about it?
November / December 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 868
Abstract: By temporarily doubling the gift and estate tax exemption amount, the Tax Cuts and Jobs Act created an historic opportunity for affluent families to shelter wealth from transfer taxes through lifetime giving. But some families are concerned that, if they take advantage of this opportunity, a portion of those gifts may be “clawed back” into their estates and be subject to estate taxes when the exemption amount is reduced. This article explains how, in theory, a clawback works. A sidebar explains how the IRS has alleviated concerns about assets being clawed back into one’s estate.
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Estate Planning Red Flag – You’re drafting your own estate planning documents
September / October 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 333
Abstract: There’s no shortage of online do-it-yourself (DIY) tools that promise to help one create an “estate plan.” But while these tools can generate wills, trusts and other documents relatively cheaply, they can be risky except in the simplest cases. This brief article details the pitfalls of DIY estate planning.
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Coming to a family consensus on moving a parent to a nursing home
September / October 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 627
Abstract: Estate and financial plans must account for all family members, and that includes aging parents and in-laws. This article explores the many issues to consider before moving a parent into a nursing home.
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Qualified Opportunity Funds: Estate planning implications
September / October 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 619
Abstract: Created by the Tax Cuts and Jobs Act, the Qualified Opportunity Zone (QOZ) program allows one to defer current capital gains and avoid taxes on future gains by reinvesting gains in a Qualified Opportunity Fund (QOF). QOFs are funds that invest primarily in one or more of the nearly 9,000 QOZs throughout the United States and its territories and meet certain other requirements. This article explains the estate planning benefits of QOFs.
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Is silence golden? The good and the bad of keeping your trust a secret
September / October 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 886
Abstract: It’s common for parents to set aside money or other assets in trust for their children or grandchildren. At the same time, many parents agonize over the impact this wealth may have on their heirs. One potential solution is a “silent trust.” These trusts, which are permitted in many states, limit the amount of information shared with beneficiaries or, in some cases, keep the existence of the trust a secret. This article explains the benefits and drawbacks. A sidebar looks at an alternative to the silent trust: a principle trust.
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Estate Planning Red Flag – You’re splitting gifts with your spouse
July / August 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 321
Abstract: The annual gift tax exclusion allows a person to transfer up to $15,000 per beneficiary gift-tax-free. One can double the exclusion to $30,000 per beneficiary if an election is made to split the gifts with a spouse. This brief article explains why it’s important to understand the rules surrounding gift-splitting to avoid unintended — and potentially costly — consequences.
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Protecting the nest egg – Safeguard your assets with these protection strategies
July / August 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 520
Abstract: Sometimes the easiest and most basic plans of action can be the most effective. Take, for instance, asset protection. Offshore or domestic trusts can be effective vehicles for protecting wealth, but they can be complicated and costly. This article examines four asset protection strategies that can help a person keep more of his or her wealth to share with loved ones.
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Can multiple trusts be used to maximize the pass-through deduction?
July / August 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 647
Abstract: The Tax Cuts and Jobs Act added Section 199A to the tax code, allowing owners of sole proprietorships and pass-through entities to deduct up to 20% of their qualified business income. Sec. 199A offers valuable tax benefits to business owners, but these benefits may be reduced or eliminated if an owner’s taxable income exceeds certain thresholds. One strategy to qualify for the full deduction is to transfer portions of the business to several trusts for the benefit of one’s heirs, each of whom has income below the applicable threshold. This article details how this strategy works.
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SLATs offer an estate planning safety net
July / August 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 876
Abstract: Many people are taking advantage of the temporary increase to the gift and estate tax exemption amount by giving away substantial amounts of wealth gift-tax-free — either directly or in trust — during the next six-plus years, locking in the higher exemption amount. However, what if one is reluctant to give away substantial amounts of wealth now, for fear that he or she may need access to it down the road? One potential solution is a spousal lifetime access trust (SLAT). This article explains how a SLAT works and includes a sidebar on the “clawback” rule.
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Estate Planning Red Flag – You missed a required minimum distribution
May / June 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 359
Abstract: The penalty for missing a required minimum distribution from an IRA or qualified retirement plan is one of the harshest in the tax code: 50% of the amount you should have withdrawn. This brief article explains what to do if you miss a distribution.
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Decisions, decisions – Personal circumstances figure into when to begin taking Social Security
May / June 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 661
Abstract: There are several individual factors that go into the determination of when the best time is to begin collecting Social Security benefits. Among those factors are the size of one’s estate, the amount of money required to maintain a desired lifestyle in retirement, and last, but not least, estate planning goals. This article examines the personal circumstances that can affect one’s decision about when to begin collecting Social Security benefits.
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Now may be the time to forgive intrafamily loans
May / June 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 689
Abstract: Those with outstanding loans to their children, grandchildren or other family members should consider forgiving those loans to take advantage of the record-high gift and estate tax exemption and the generation-skipping transfer tax exemption. This article explains reasons to forgive the loan and the tax consequences of doing so.
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How can you mend a broken trust? Try decanting
May / June 2019
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 897
Abstract: An irrevocable trust can be a powerful estate planning tool, but in some cases irrevocability could be a disadvantage. The risk that a trust will cease to serve its purpose is greater if it’s designed to operate over several generations. One strategy that may allow you to fix a broken trust is decanting. This article details how to decant a trust and explains the tax consequences. A brief sidebar explores other options for amending an irrevocable trust.