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Foggy future — Estate tax law uncertainties call for flexibility
August / September 2012
Newsletter: Trendlines
Price: $225.00, Subscriber Price: $157.50
Word count: 1126
Abstract: Unless Congress acts before year end, significant changes will take place on Jan. 1, 2013: The current $5.12 million gift and estate tax exemption will drop to $1 million, and the top rate of 35% will increase to 55%. These uncertainties call for estate plan flexibility. This article illustrates a variety of ways to do so, including making large gifts, having beneficiaries use qualified disclaimers, or setting up a credit shelter trust. A sidebar discusses two other trusts: a grantor retained annuity trust (GRAT) and the charitable lead annuity trust (CLAT).
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Can goodwill hold up in a bad economy?
May / June 2009
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 1126
Abstract: Privately owned companies can’t escape the effects of a slowed economy — for instance, the possibility of impaired values. Goodwill and other indefinite-lived (and long-lived) intangible assets may decline in value. Impaired values might require corrective action to conform with Generally Accepted Accounting Principles (GAAP). This article discusses several recent standards, including Financial Accounting Standards Board Statement of Financial Accounting Standards (SFAS) No. 157, Fair Value Measurements, which provide guidelines for impairment testing. The article points out that valuators are often called in to handle these assignments because they are familiar with current standards and can add objective credibility to the process for auditors.