IEP

Insight on Estate Planning

Showing 1–16 of 336 results

  • Estate planning pitfall – You don’t have a residuary clause in your will

    Year End 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 287

    Abstract: A residuary clause is a provision in a will that passes the residue of an estate to designated beneficiaries. Consider it a safety net that catches all of a person’s possessions that aren’t covered by specific gifts. This brief article explains what happens if a will doesn’t have a residuary clause.

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  • Have you named successor fiduciaries?

    Year End 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 657

    Abstract: It’s generally not enough to appoint an executor to handle a person’s estate after his or her death or name a trustee to administer a trust. Choosing qualified people to fulfill these duties requires forethought and in-depth analysis, but it’s only half the battle. For greater protection, consider choosing “successor fiduciaries” who can step in at a moment’s notice and take over, if needed. This article details the duties of a successor fiduciary.

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  • You can relax if your estate plan includes a SPA trust

    Year End 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 760

    Abstract: During times of economic and tax law uncertainty, the more flexible a person’s estate plan, the better. As some parts of the country are rebounding economically from effects of the COVID-19 pandemic, other areas continue to struggle. In addition, there’s the possibility of major tax law changes on the horizon that could greatly affect one’s estate plan. Because of this uncertainty, consider all the strategies that can build flexibility into an estate plan. This article examines how a special power of appointment (SPA) trust can be beneficial to an estate plan.

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  • Take full advantage of your annual gift tax exclusion

    Year End 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 774

    Abstract: One of the most effective estate-tax-saving techniques is also one of the simplest and most convenient: making maximum use of the annual gift tax exclusion. Individuals can annually make up to $15,000 in gifts per person gift tax free ($16,000 in 2022). This article explains how an individual can maximize the amount of assets he or she can annually pass to loved ones using the annual gift tax exclusion. A sidebar details when a gift tax return must be filed.

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  • Estate Planning Pitfall – You haven’t updated your estate plan after a move

    October / November 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 256

    Abstract: There are several reasons a person might pick up and move to another state, such as a change in jobs, a desire for a better climate, an opportunity to downsize or to be closer to loved ones. This brief article explains why it’s critical to update estate planning documents after making the move.

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  • Behold the 21st century will: the e-will!

    October / November 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 609

    Abstract: A will is commonly drafted in a lawyer’s office in the presence of witnesses and a notary public. However, this scene is slowly changing with the rising popularity of electronic wills (e-wills). This article discusses the Uniform Electronic Wills Act and lists the advantages and disadvantages of e-wills.

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  • Protecting business wealth from creditors

    October / November 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 791

    Abstract: Business owners likely have worked long and hard to achieve their goals. It would be a shame if creditors were able to reach their assets before they’ve transferred wealth to the younger generation. This article examines several asset protection strategies business owners can employ with the goal of holding on to more of their wealth to pass on to loved ones.

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  • The return of RMDs – COVID-19-related suspension of RMDs is a thing of the past

    October / November 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 881

    Abstract: The temporary reprieve is over. Due to the COVID-19 pandemic, Congress suspended the rules for required minimum distributions (RMDs) in 2020, including inherited accounts. But the rules have been restored for the 2021 tax year. Essentially, participants in qualified plans and IRAs who’ve reached their required beginning date must take distributions this year or potentially pay a hefty penalty. This article explains RMD rules and details what an individual must do before year end. A sidebar details the RMD options an individual has if he or has multiple accounts.

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  • Estate Planning Pitfall – You’ve amended your will yourself

    August / September 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 260

    Abstract: A common reason for a person to amend a will is because of a change in his or her family’s circumstances, such as adding a newborn grandchild as a beneficiary or removing an adult child’s spouse after a divorce. This brief article explains reasons a person should resist the temptation to make the changes without professional guidance.

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  • Family education trusts – Leave a lasting legacy for your heirs

    August / September 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 629

    Abstract: Providing for the educational needs of children, grandchildren and even future generations is an honorable estate planning objective. To achieve this goal a person can use a 529 plan, but after death, there’s no guarantee that subsequent plan owners will continue to use it to fulfill the original vision. An alternative strategy is to create a family education trust that invests in one or more 529 plans. This article explores a 529 plan’s flexibility and explains the benefits of having a family education trust hold a 529 plan.

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  • Can an ABLE account benefit your family?

    August / September 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 757

    Abstract: A family with a disabled child faces difficult estate and financial planning challenges. One effective planning tool available to families is the ABLE account. The Achieving a Better Life Experience (ABLE) Act was signed into law in 2014. It created Internal Revenue Code Section 529A, authorizing states to offer tax-advantaged savings accounts for the blind and severely disabled. This article details the ins and outs of an ABLE account.

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  • An ILIT can be a wealth preserver for your family

    August / September 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 864

    Abstract: Life insurance is often an integral part of an estate plan. By acquiring life insurance coverage, a person can provide liquidity when his or her family might need it the most. Of course, a person must account for taxes. For many families, creating an irrevocable life insurance trust (ILIT) to hold a life insurance policy is a common solution. This article explains how an ILIT works. A brief sidebar details the “three-year rule.”

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  • Estate Planning Pitfall – You don’t meet the tax requirements for splitting gifts

    June / July 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 272

    Abstract: The annual gift tax exclusion is a powerful tool in the estate planning toolbox. By using the annual exclusion, a person doesn’t owe any gift tax on amounts transferred to another person up to a specified limit. The limit is $15,000 per recipient for 2021 (the same as it was in 2020). Even better, taxpayers can double their tax pleasure by “splitting gifts” with their spouse. This brief article explains the tax requirements necessary to split gifts.

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  • What does “probate” mean?

    June / July 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 629

    Abstract: The term “probate” is one people may have heard and might associate with negative connotations, but they may not fully understand what it is. The term may conjure images of lengthy delays waiting for wealth to be transferred and bitter disputes among family members. Others, because the process is open to the public, worry about their “dirty laundry” being aired out in the open. This article defines probate and details strategies to avoid it.

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  • Add estate planning flexibility with powers of appointment

    June / July 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 711

    Abstract: The best laid plans can go awry. Consider an estate plan that has been carefully crafted by taking into account the needs of family members. After the person is gone, events may transpire that he or she hadn’t anticipated or couldn’t have reasonably foreseen. This article explains how using powers of appointment can add flexibility to an estate plan.

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  • CLTs – A charitable trust that takes the lead

    June / July 2021
    Newsletter: Insight on Estate Planning

    Price: $225.00, Subscriber Price: $157.50

    Word count: 866

    Abstract: For those who are charitably inclined, the benefits of a charitable lead trust (CLT) may be worth considering. With a CLT, the donated property helps a charity for a period of time and then reverts back to family members. This article details how a CLT works and explains the charitable deduction implications. A sidebar weighs the benefits of a charitable remainder trust.

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