IEP
Showing 321–336 of 384 results
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Estate Planning Pitfall – You don’t have a succession plan for your business
August / September 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 283
Abstract: For business owners, estate planning and succession planning go hand-in-hand. Owners of closely held businesses typically have a significant portion of their wealth tied up in the business. Those who own a business, yet don’t take steps to ensure that it lives on after they’re gone, may be placing their family at risk. This article shows why an effective plan should address management succession and ownership succession.
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Finding your comfort zone – Manage risk to preserve and grow wealth for future generations
August / September 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 494
Abstract: The 2007–2008 financial crisis drove home the fact that investment risk is a real concern that families need to define and manage. Too little risk, and asset growth may not keep pace with inflation, eroding wealth over time. Too much risk, on the other hand, jeopardizes a family’s financial security. This article looks at a couple of approaches that can be useful in managing risk.
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2 rules make planning complicated if you already own life insurance
August / September 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 818
Abstract: As of mid-2010, the estate tax is still scheduled to return, so it remains important to keep life insurance out of one’s estate. But the tax code’s “three-year rule” can pull policy proceeds back into a transferor’s estate if he or she doesn’t survive for at least three years after the transfer. And an exception to this rule can trigger the “transfer-for-value rule,” which can cause the transferee to be subject to ordinary income taxes. But this article shows how one might avoid both rules through use of an irrevocable grantor trust.
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Fraudulent transfer laws – Don’t let creditors undo your estate plan
August / September 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 898
Abstract: Most people wouldn’t even consider transferring or hiding assets to avoid paying their creditors. But the fraudulent transfer laws can also jeopardize perfectly innocent, legitimate estate planning moves. And if creditors challenge gifts, trusts, retitling of property or other strategies as fraudulent transfers, they can quickly undo an estate plan. This article examines the difference between actual vs. constructive fraud, and explains the importance of analyzing one’s net worth before making substantial gifts. A sidebar lists factors that may signal an intent to defraud.
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Estate Planning Pitfall – You haven’t recently reviewed your retirement plan beneficiary designations
June / July 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 283
Abstract: Those who have an IRA or employer-provided retirement plan and haven’t reviewed their beneficiary designations recently may have some that are no longer appropriate. This could result in undesirable consequences, especially if the plan holds substantial wealth. Undesirable income tax consequences also can occur if the tax implications of beneficiary designations aren’t reviewed regularly.
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Should you move your trust?
June / July 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 680
Abstract: In some cases, it may be desirable to move a trust to a more favorable jurisdiction. But moving a trust from one state to another also presents significant risks, so attempting to do so without considering all the benefits, limitations and risks and obtaining professional advice isn’t recommended. This article lists some of the pros and cons, and describes a number of procedures one should be aware of in regard to moving a trust.
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Family matters – Dealing with incapacity guardianship/conservatorship issues and your elderly parents
June / July 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 682
Abstract: If a parent’s mental condition is declining, it may be necessary to make an emotionally difficult decision to have him or her declared incompetent. A judge will then appoint a guardian/conservator to oversee his or her affairs. This article looks at the legal definition of “capacity,” and the role of a legal guardian/conservator. But there are also several areas short of legal guardianship/conservatorship in which one may assist elderly parents.
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Finding stability amid uncertain estate tax law – Defined-value gifts can limit tax exposure
June / July 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 952
Abstract: It’s likely that Congress will overhaul the estate tax regime this year. But regardless of what happens, it makes sense to explore strategies for minimizing gift taxes. One strategy that can be effective is the defined-value gift, which can limit gift tax exposure by providing that any excess value go to a charity or other gift-tax-exempt recipient. The IRS isn’t a fan of these gifts, but they recently have gained approval in the courts, as explained in a sidebar.
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Estate Planning Pitfall – You haven’t provided for the removal of a trustee
April / May 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 259
Abstract: When estate planning, most people put a great deal of thought into selecting the right trustees to carry out their wishes and protect their beneficiaries. But it’s also important to establish procedures for removing a trustee in the event that circumstances change. Failing to do so doesn’t mean beneficiaries will be stuck with an inadequate trustee. But they’ll have to petition a court to remove the trustee for cause, which can be an expensive, time-consuming and uncertain process. To avoid this, the trust agreement should include procedures for removing a trustee and include a list of successor trustees.
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Teach your children well – Education is the key to an estate plan that leaves your desired legacy
April / May 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 797
Abstract: When it comes to teaching children about money management, even a well-designed estate plan is no substitute for education and experience. An incentive trust can be an effective estate planning tool, but a beneficiary’s good personal behavior doesn’t automatically translate to “money smarts.” A plan that suddenly releases an entire estate to a child who can’t handle money can result in the estate being rapidly dissipated. Conversely, a trust that’s too restrictive may incite rebellion or invite lawsuits. But there are a number of practical steps parents can take to teach their children about money management principles.
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The installment sale: A viable option for transferring appreciating assets
April / May 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 577
Abstract: For those considering transferring real estate, a family business or other assets they expect to appreciate dramatically in the future, an installment sale may be a viable option. Its benefits include the ability to freeze asset values for estate tax purposes and remove future appreciation from one’s taxable estate. But there are disadvantages, as well. And, due to the possibility of tax law changes in 2010, it will be especially important to consult a professional tax advisor.
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Do you know the impact of the 2010 estate tax repeal on your estate plan?
April / May 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 947
Abstract: On Jan. 1, 2010, a one-year repeal of the federal estate tax went into effect, throwing many estate plans into disarray. The repeal also applies to the generation-skipping transfer (GST) tax, while the gift tax lives on with a top rate of 35% (10 percentage points lower than in 2009) and a $1 million lifetime exemption (the same amount as in 2009). This means that many estate plans might not meet their objectives; income tax bills could increase and transfers to trusts could be affected. So, while the future of the estate tax remains uncertain, it’s critical to review one’s estate plan to assess the impact of the current tax laws and to prepare for what the future might bring.
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Estate Planning Pitfall – You haven’t looked at your estate plan in light of estate tax law uncertainty
February / March 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 320
Abstract: The 2001 tax act that reduced the top estate tax rate and increased the estate tax exemption over the last several years also repealed the estate tax — for 2010 only. It was expected that Congress would repeal the repeal by the end of 2009, but that didn’t happen. Regardless of what happens, it’s important to review one’s estate plan both now and after Congress takes action.
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Splitting the insurance bill – Family split-dollar arrangements can reduce gift taxes
February / March 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 685
Abstract: Dave and Susan have established an irrevocable life insurance trust (ILIT) to purchase and hold a second-to-die life insurance policy. When the second spouse dies, the death benefit will be paid to the trust estate-tax free and then distributed tax free to their daughter, Anna, the trust’s beneficiary. There’s just one problem: To cover the policy’s premium, Dave and Susan make annual contributions to the ILIT, which are considered taxable gifts to Anna. Because of the way the trust is structured, the couple can use their combined annual gift tax exclusions to shield a portion of each contribution from gift tax. But the remaining portion is still a taxable gift. A family split-dollar insurance arrangement may be the answer.
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I’ll take a pass – Use a qualified disclaimer to forgo an interest in property
February / March 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 541
Abstract: Estate planning isn’t static — after a plan is created, life continues and circumstances likely will change. Estate tax laws also might change, warranting different strategies. A qualified disclaimer is one estate planning tool that provides some flexibility. A disclaimer is an irrevocable and unqualified refusal to accept an interest in property; if the disclaimer is “qualified,” the property will be redirected without negative gift or estate tax consequences. A person who is in line to inherit a significant amount of assets, but has a particular set of tax circumstances that make it unwise to accept further wealth, should consider using a disclaimer to pass the wealth on to another beneficiary.
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The Roth IRA: A powerful estate planning tool
February / March 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 1155
Abstract: A Roth IRA may not be the first thing that many think about when considering estate planning techniques. After all, not only is it designed to be a retirement savings vehicle, but the income of wealthier individuals keeps them from being eligible to contribute. However, beginning in 2010, conversions from traditional IRAs are available to taxpayers at all income levels. This article looks at some of the pros (and a few possible cons) of Roth IRAs involving distribution requirements, income tax considerations and possible estate tax savings. A sidebar discusses the benefits of Roth IRAs for kids.