IEP
Showing 33–48 of 384 results
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Estate Planning Pitfall – You didn’t make specific references in a letter of instruction
August / September 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 275
Abstract: A letter of instruction provides insights into the management of a person’s affairs after death. But the letter won’t be of much help if it’s vaguely written. This brief article suggests specific references to include in the letter.
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QTIP trust – Strange name, powerful trust
August / September 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 645
Abstract: A qualified terminable interest property (QTIP) trust is an odd sounding name for an estate planning technique. Nevertheless, it can be a valuable strategy, especially for someone who’s currently in a second marriage. Essentially, this trust provides future security for both a surviving spouse and children from a prior marriage, while retaining estate planning flexibility. This article details the ins and outs of a QTIP trust.
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Family businesses would be wise to consider IRC Section 6166
August / September 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 909
Abstract: It’s true that because of the current record-high gift and estate tax exemption amount, most families don’t have to worry about transfer taxes. However, there are high net worth individuals who must continue to work to reduce their estate tax liability. In fact, these taxes continue to place a burden on families with significant amounts of wealth tied up in illiquid closely held businesses. This article explores the ways Internal Revenue Code Section 6166 can provide relief by allowing the estates of family business owners to defer estate taxes and pay them in installments if certain requirements are met.
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Does your family situation call for a spendthrift trust?
August / September 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 721
Abstract: For those who have concerns that an heir might squander his or her inheritance, drafting a spendthrift trust might be the solution. This trust may incorporate various tax benefits, including taking advantage of the federal gift and estate tax exemption. But that’s not its primary focus: Its main purpose is asset protection. This article explains how a spendthrift trust works and why it’s important to choose the right trustee. A sidebar details the reasons why a professional is needed to create the trust.
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Estate Planning Pitfall – You haven’t coordinated your estate plan with your spouse
June / July 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 305
Abstract: Estate planning can be complicated enough when a person doesn’t have a spouse. But things can get even trickier for married couples. Even if the couple have generally agreed on most major issues in the past — such as child rearing, where to live and other lifestyle choices — they may not be on the same page when it comes to making critical estate planning decisions. This brief article details how to best coordinate one’s estate plan with a spouse.
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Net gifts – A gift-giving technique that makes sense in certain situations
June / July 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 598
Abstract: Lifetime giving is a smart strategy to reduce a person’s taxable estate. However, if one’s $12.06 million federal gift and estate tax exemption has been exhausted, his or her gifts may be fully taxable at the 40% rate. In this case, consider making “net gifts.” This article explains that this technique requires the gift’s recipient to agree to pay the gift tax as a condition of receiving the gift, thus reducing the gift’s value for gift tax purposes.
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Why contingent beneficiaries matter
June / July 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 721
Abstract: A will provides for the disposition of one’s worldly possessions, including a house, investments and other property. These go to the beneficiaries named in the will. In addition, this foundation is usually supported by documents for trusts, retirement plan accounts and life insurance policies. They also have designated beneficiaries. But the process may be a little more complicated than it first seems. Of course, one must list the primary beneficiaries in these documents, but it’s also imperative to include “contingent” beneficiaries for peace of mind. This article explains why naming contingent beneficiaries is critical.
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Will your will be contested?
June / July 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 882
Abstract: A person’s will may be challenged based on its validity, its terms or even his or her mental capacity at the time it was drafted. Although state law generally controls these matters, there are guidelines to follow. This article examines who can contest a will and when and how one may be able to discourage discord. A brief sidebar explains certain protections available outside of the probate process.
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Estate Planning Pitfall – You’ve overlooked digital assets in your estate plan
April / May 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 274
Abstract: Traditionally, an estate plan addresses one’s tangible assets, such as cash and securities, investment real estate, vehicles, and a house. But this is 2022. Increasingly, people are living in a digital world, where prized possessions include online bank accounts, social media accounts and other significant items protected “in the cloud.” This brief article explains why it’s important to address digital assets in an estate plan.
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Decisions, decisions – Many factors go into deciding when to transfer wealth
April / May 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 661
Abstract: A critical estate planning decision is whether to transfer wealth during one’s life or keep assets in his or her estate and transfer the wealth to loved ones after death. This decision is further complicated by the fact that the inflation-adjusted gift and estate tax exemption amount currently is scheduled to be halved after 2025. This article examines various factors to consider when deciding to transfer wealth.
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Need to make a “quick fix” to your will? Executing a codicil may be the answer
April / May 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 695
Abstract: For most people, the first step in estate planning is to create a legally enforceable will. But what if some circumstances have changed since the will was drafted? It may be in need of a “quick fix.” This article explains how a codicil can supplement an existing will.
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Small business owners may qualify for the special use valuation method
April / May 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 906
Abstract: The need for estate planning is essential for small business owners who have most of their personal fortune tied up in the operation. Fortunately, they may have an ace up their sleeves: the special use valuation method. With this approach, a person’s executor may secure significant tax savings when the owner’s business interest is passed to heirs. This article details the benefits of a special use valuation method. A sidebar explains how an executor can elect to use the special use valuation method.
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Estate Planning Pitfall – You’re using the wrong type of living trust
February / March 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 268
Abstract: Using a living trust makes sense for those looking to preserve assets for other family members without dire tax consequences or to avoid probate. But which trust type to choose? A “revocable” or “irrevocable” living trust? The answer can make a big difference. This brief article explains why the wrong type of trust can defeat a person’s main intentions.
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Create an eldercare plan for an elderly loved one
February / March 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 662
Abstract: For families caring for an elderly family member, it’s critical to have an eldercare plan in place. If a parent or an in-law is experiencing difficulties caring for themselves, it’s time to call a family meeting to create an eldercare plan that addresses key issues and includes contingencies. This article explores topics to cover during the family meeting.
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COVID-19 and estate planning – Estate planning is possible in a socially distanced environment
February / March 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 726
Abstract: In light of the ongoing COVID-19 pandemic, some people may be leery about visiting their advisor’s office to attend to estate planning documents. The good news is that for those who need to plan their estates or execute critical documents but don’t want to meet face-to-face, there are ways to do so in a socially distanced environment. This article explains options for meeting remotely and signing documents.
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Don’t count out the bypass trust
February / March 2022
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 847
Abstract: To paraphrase Mark Twain, the reported demise of the bypass trust may be greatly exaggerated. In fact, this estate planning technique is still a viable option for many individuals and may actually stage a “revival” in future years. This article details the estate tax law changes that slightly reduced the necessity of using a bypass trust and explains why future tax law changes may make it once again attractive. A sidebar provides a brief history of the gift and estate tax exemption.