IEP
Showing 273–288 of 384 results
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Estate Planning Pitfall — You haven’t covered all your bases since your divorce
August / September 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 296
Abstract: This brief article lists several estate planning and financial arrangements that are easily overlooked following a divorce, including retirement accounts, jointly owned assets, and powers of attorney.
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Is your estate liquid enough to cover estate taxes?
August / September 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 664
Abstract: Unless an estate plan provides sufficient liquidity to pay estate taxes and other expenses, it may be at risk. This article examines various liquidity tools, including irrevocable life insurance trusts (ILITs); buy-sell agreements; IRAs, 401(k) plans and other tax-advantaged retirement plans; and traditional investments in stocks, bonds and mutual funds. If those liquidity tools prove inadequate, there are several postmortem strategies that heirs can use to soften the blow of estate taxes.
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Estate planning 101 — Choosing a trustee for your living trust
August / September 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 688
Abstract: Transferring assets to a living trust can help ensure an estate will avoid the time-consuming, potentially expensive and public process of probate. One can serve as the trust’s trustee during life, but must choose a trustee to oversee and administer the trust after death. This article describes the duties of a trustee and the two types of trustee to choose from. It also notes the importance of providing guidance from the start.
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Decanting breathes new life into an old trust
August / September 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 1064
Abstract: “Decanting” can breathe new life into an irrevocable trust. This process allows a trustee to use his or her distribution powers to “pour” funds from one trust into another trust with different terms, thereby providing the trustee with added flexibility to adapt a trust in light of changing tax laws or family circumstances. But decanting laws vary dramatically from state to state. This article describes some of these differences and their effect on estate planning goals. A sidebar mentions a few of the tax implications of decanting.
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Estate Planning Pitfall — You’re donating real estate to charity
June / July 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 374
Abstract: In the current real estate market, donating a property to charity may be an attractive alternative to selling it. But this brief article lists five potential tax traps to look out for, including failure to properly substantiate a donation and the ramifications of donating to a private foundation rather than a public charity.
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Transfer business ownership or remain boss? — Nonvoting stock lets you share the wealth without losing control
June / July 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 484
Abstract: For family business owners, estate planning can be a challenge. Often, most if not all of their wealth is tied up in the business, which creates a conflict between the desire to transfer ownership to the next generation and the desire to stay in control. One potential solution is to recapitalize the business into voting and nonvoting shares. This allows the separation of ownership succession from management succession, and can avoid conflict between children who are involved in the business and those who aren’t. As this article notes, 2012 might be an especially good time to transfer ownership.
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Keep family harmony when transferring a vacation home
June / July 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 709
Abstract: When deciding to transfer a vacation home, simply dividing it equally among children or other family members may seem like the fairest solution, but it can end up being an invitation to conflict and hurt feelings. Some family members may care more about keeping the home in the family than about any financial benefits it might provide. Others may prefer to sell the home and use the proceeds for other needs. This article discusses ways to resolve this conundrum, along with estate planning strategies available for those who don’t wish to give up ownership immediately.
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Conditions favorable for gifts — High exemption amount and low tax rate make 2012 the year to transfer significant wealth
June / July 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 1233
Abstract: Gift, estate and generation-skipping transfer tax exemption amounts stand at a record-high $5.12 million. And the top rate for all three taxes is 35%, the lowest it’s been in many years. So, with these set to expire at the end of the year, now may be the time to transfer substantial amounts of wealth to family members tax-free. This article discusses several strategies to do so, including trusts, life insurance and family limited partnerships. But a sidebar warns of the possibility of a “clawback” — in which the IRS attempts to impose estate tax on previous gifts to the extent they exceed the date-of-death exemption amount.
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Estate Planning Pitfall — A trust is the beneficiary of an IRA or retirement plan
April / May 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 410
Abstract: If a person owns an IRA or participates in a qualified retirement plan such as a 401(k), it’s possible that he or she can have the assets distributed to a trust upon death. As illustrated in a recent IRS private letter ruling (PLR), however, to preserve the retirement account’s tax-deferral benefits, it’s critical to properly designate a trust beneficiary. This article lists the IRS requirements to have a trust beneficiary qualify as a designated beneficiary of an IRA or qualified plan.
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Which planning strategies should unmarried couples implement?
April / May 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 751
Abstract: Married couples have available to them greater (and more advantageous) estate planning options than unmarried couples. Yet unmarried couples face many of the same estate planning concerns as married couples. So they must engage in special planning to ensure that their decisions regarding asset distribution and health care are carried out per their wishes. This article examines several estate planning challenges that unmarried couples must plan around, but also discusses one significant estate planning opportunity that gives unmarried couples an edge over married ones: a grantor retained income trust (GRIT).
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Due diligence required when taking charitable deductions
April / May 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 650
Abstract: It’s important to understand the tax implications of an estate plan that includes charitable contributions. The availability of income tax deductions for lifetime donations affects a contribution’s cost and, therefore, the amount one can afford to give without jeopardizing other estate planning goals. But, to ensure that contributions are deductible, it’s critical to monitor the tax-exempt status of the beneficiary organizations. This article discusses the steps involved.
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Make health care decisions while you’re healthy
April / May 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 1057
Abstract: Estate planning isn’t just about what happens to assets after death. It’s also about protecting oneself and one’s loved ones, which includes having a plan for someone to make critical medical decisions in the event of one’s own incapacity. There are generally two ways of putting decisions in writing: 1) a living will and 2) a health care power of attorney (HCPA). This article describes the characteristics of each and explains why it’s a good idea to have both — or, if allowed by state law, a single document that combines the two. A sidebar discusses the importance of having a financial management plan in place and lists three traditional techniques for doing so.
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Estate Planning Pitfall — You own a high-cash-value insurance policy on your own life
February / March 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 367
Abstract: A person who owns a life insurance policy that has built up a sizable cash value should realize that the death benefit will be included in their taxable estate. Depending on the size of the policy and the applicable estate tax exemption when the owner dies, the tax bill could be substantial. One option to avoid this is to transfer the policy to an irrevocable life insurance trust (ILIT). This article discusses what’s involved.
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Privacy, please! — Keep family matters out of the public eye by avoiding probate
February / March 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 766
Abstract: Although probate can be time consuming and expensive, perhaps its biggest downside is that it’s public — anyone who’s interested can find out the details of an estate and its distribution. It can also draw unwanted attention from disgruntled family members who may challenge the disposition of assets, as well as from other unscrupulous parties. The good news is that, by implementing the right estate planning strategies, it’s possible to keep much or even all of an estate out of probate. This article shows how, while a sidebar notes that a living trust can be an effective tool for larger estates to avoid probate.
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Consider a “stretch” to maximize and preserve IRA benefits
February / March 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 882
Abstract: One of the great benefits of an IRA is that contributions can grow and compound on a tax-deferred basis for years. Distributions are taxable, but there’s no requirement to withdraw any funds until April 1 following the year in which the holder turns age 70½. By structuring the IRA as a “stretch IRA,” you can allow it to last as long as possible. This article shows how a stretch IRA works and the tax benefits it offers for a beneficiary. Or, one can designate a trust as beneficiary.
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Does your trust need a protector?
February / March 2012
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 903
Abstract: Typically, to achieve the greatest tax savings, trusts must be irrevocable. But it can be disconcerting to relinquish control over assets placed in a trust, particularly if one expects that Congress will continue to modify the tax laws. One potential solution is to appoint a “trust protector” to oversee the trustee’s activities and to provide flexibility to adapt the trust to changing laws and circumstances. This article explains the protector’s role and the benefits of having one, along with cautions that should be observed. A sidebar lists specific powers of a trust protector.