IEP
Showing 257–272 of 384 results
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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.
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Should a CRT be part of your estate plan?
April / May 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 679
Abstract: A charitable remainder trust (CRT) allows a person to support a favorite charity while potentially boosting their cash flow, shrinking the size of their taxable estate, reducing or deferring income taxes, and enjoying investment planning advantages. This article looks at how a CRT works and explains the difference between a charitable remainder annuity trust and a charitable remainder unitrust.
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How to fund long-term care insurance with a tax-free exchange
April / May 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 983
Abstract: Long-term care (LTC) insurance is a major expense, especially for someone who purchases it at or after retirement age. One potential source for funding LTC insurance premiums is a total or partial tax-free exchange of an existing life insurance policy or annuity contract. This article explains how a tax-free exchange provides a source of funds for LTC coverage and offers significant tax benefits. A sidebar notes the tax treatment of LTC insurance.
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Estate Planning Pitfall — Transferring home ownership to your children
February / March 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 393
Abstract: Many people mistakenly believe they can transfer their home to their children while retaining the right to continue living in it for the rest of their life, and remove a substantial portion of the home’s value from their taxable estate. It’s a simple, inexpensive way — they reason — to avoid probate and reduce estate taxes. But, on the contrary, retaining such a “life estate” guarantees that the home’s value will be included in one’s taxable estate after death. Yet, as this article explains, that’s not necessarily a bad thing.
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Should you donate life insurance to charity?
February / March 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 611
Abstract: Donating life insurance to a favorite charity is an excellent opportunity to make a larger donation than may otherwise be affordable. This article shows why this is so and discusses the most tax-effective way to donate life insurance. But doing so isn’t for everyone; there are family needs and tax implications to consider.
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Strong governance enhances a family business’s value
February / March 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 932
Abstract: Too often, family members view their business as a source of wealth without making sure that the company is managed by those best suited for the job. Good governance — carefully documented in writing — can help ensure a family business’s survival as it makes the transition from one generation to the next. This article shows how the business’s organizational documents can lay a solid foundation for good governance. It also explains the importance of having an independent board, along with legal agreements designed to keep the business in the family.
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Fiscal cliff deal brings some certainty to estate planning
February / March 2013
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 943
Abstract: Congress’s eleventh-hour deal to avert the “fiscal cliff” produced the American Taxpayer Relief Act of 2012 (ATRA). The act focuses on income taxes, but it also provides much-needed certainty for people engaged in estate planning. This article discusses the act’s provisions that pertain to the unified gift and estate tax exemption and the generation-skipping transfer (GST) tax exemption; exemption portability; and other estate planning benefits. A sidebar notes the benefits of a “charitable IRA rollover,” also available under ATRA.
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Estate Planning Pitfall — You’re unsure whether you need to file a 2012 gift tax return
Year End 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 337
Abstract: Anyone transferring anything of value to another person during 2012 needs to consider whether it’s necessary to file a gift tax return. Some transfers require a return even if no tax is owed. And, in some cases, it’s desirable to file a return even if it’s not required. This article lists criteria that should be a part of the decision.
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Be prepared for a “triggering” event — If you own interests in a closely held business, consider a buy-sell agreement
Year End 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 815
Abstract: A buy-sell agreement provides for the disposition of each owner’s business interest after a “triggering event,” such as death, disability, divorce, termination of employment or withdrawal from the business. However, to be effective, the agreement must include the appropriate provisions. This article discusses the benefits of buy-sell agreements and the three types available. It also examines some of the tax and valuation issues involved.
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Is your IRA safe from creditors?
Year End 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 628
Abstract: If a substantial portion of a person’s wealth is in one or more IRAs, protecting the assets in those accounts is critical to his or her estate plan. IRAs provide significant benefits, including tax-deferred wealth accumulation during life and, with proper planning, during the lives of the IRA’s beneficiaries. This article examines the extent to which IRAs are protected from creditors, depending on such factors as whether the claims are brought in a bankruptcy context, the IRA owner’s state and whether the IRA is an “inherited IRA.”
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The spousal lifetime access trust: A safety net in uncertain times
Year End 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 1100
Abstract: There’s a lot of uncertainty about the future of the federal estate tax regime — in particular the $5.12 million federal gift and estate tax exemption set to expire. A spousal lifetime access trust (SLAT) can provide a last-minute strategy to take advantage of the high exemption before it potentially is reduced. Regardless of the exemption’s fate, a SLAT can continue to be a valuable tool to help a spouse remove significant wealth from his or her estate while providing a safety net in the event financial circumstances change. This article explains how a SLAT works and points out important planning considerations. A sidebar warns not to run afoul of the reciprocal trust doctrine when a couple considers set up two SLATs.
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Estate Planning Pitfall — Your family doesn’t know where to find your records
October / November 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 350
Abstract: If a person dies suddenly, family members will need to know where to locate his or her will, trusts, life insurance policies and other critical estate planning documents — along with bank and brokerage accounts, IRAs or other qualified retirement plans, mortgages and other loans, real estate documents, tax records, and automobile titles. This article offers a list of tips for keeping important documents secure and accessible.
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Intellectual property requires careful estate planning
October / November 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 787
Abstract: Intellectual property (IP), such as patents and copyrights, can have great value, but in many ways they’re treated differently from other property types. This article explains the differences between patents and copyrights. It then discusses valuing IP, and deciding whether to transfer the IP to family members, colleagues, charities or others through lifetime gifts or through bequests after death.
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Defined-value gifts — Give now, value later
October / November 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 567
Abstract: Making large gifts can be a challenge if they consist of illiquid, difficult-to-value assets. They must be supported by a business valuation, and there’s a risk that the IRS will claim, years later, that a gift was undervalued for tax purposes. But, as this article explains, a defined-value gift — which is a gift of assets that equal a specific dollar amount, rather than a set number of FLP units or a fixed percentage of a business — protects against unexpected taxes down the road. With little time before this year’s record-high exemption amount expires, a defined-value gift can avoid the need for rushed valuations and unintended tax consequences.
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Considering an ILIT? Now’s the time
October / November 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 1159
Abstract: Life insurance proceeds generally are income-tax-free to beneficiaries, but may be subject to estate taxes. One of the best ways to keep life insurance out of one’s taxable estate is to place the policy in an irrevocable life insurance trust (ILIT). But those who are thinking about setting up an ILIT for an existing policy should consider doing so before the end of the year to take advantage of the record-high gift tax exemption. This article looks at the benefits of an ILIT, and shows how to deal with some significant limitations. A sidebar explains how a recent IRS ruling makes ILITs more attractive by permitting a grantor to build additional flexibility into the trust.