Newsletter ArchiveApproximately monthly we publish newsletters addressing various subjects within the State or Federal Estate Planning arenas whether it be new legislation, judicial decisions, or other "revelations" that will or may impact your estate planning needs, please sign up for our newsletter and we will gladly send you every publication. 55. The Estate Tax Is Repealed For 2010 But What About The New Capital Gain Tax Mess? - As you may know, despite last minute efforts by members of Congress at the end of 2009, the estate tax has so far been eliminated for the year 2010. Under 2009 laws, the first $3.5 million of the estate was exempt from the tax while any amount over the $3.5 million was taxed at 45%. If Congress does not act, a new estate tax rate and estate tax will return in 2011 at $1 million exemption and a 55 percent estate tax rate... Read more... 54. Tough Times Can Be Good Times For Estate Planning - Many investors have taken a paper loss as the prices of stocks, bonds, real estate and most other assets have tumbled in value. But sharply lower prices, combined with lower interest rates, make this an unusually attractive time for many people to transfer wealth to the next generation... Read more... 53. Estate Planning without proper Asset Ownership is Disastrous - Every taxpayer has an estate tax exemption, which allows you to "shield" assets from the federal estate taxation. This federal estate tax exemption can be used to transfer assets to your beneficiaries, whether outright or in trust. Bequests to your spouse however are generally not subject to estate tax.. Read more... 52. The Future of Estate Planning Legislation - The changes included a flat estate tax rate of 15 percent on the first $25 million of a decedent's estate. Estates in excess of $25 million would be subject to a 40% estate tax phased down by 30% by 2015. Read more... 51. Reducing your taxable estate without using your lifetime exemption - An important estate planning goal is to find procedures to share your wealth with your heirs without incurring transfer taxes or depleting your exemptions. Read more... 50. Life Insurance and Your Favorite Charity?this is a WIN-WIN for Everybody - The charity holds the policy for the balance of the donor's life and the donor makes a gift to the charity of the premium due annually to maintain the policy in existence. Read more... 49. The Revocable Trust - Once your Revocable Living Trust is created, title to your assets are transferred to it. You will transfer your bank accounts, certificates of deposit, real estate, investments, etc. into your Revocable Living Trust. Read more... 48. A Guide for the Surviving Spouse - Postpone making any changes in your life - i.e., selling your house for one year. Give yourself some time to regain emotional equilibrium; do not do anything out of character. Read more... 47. Terri Schiavo, Karen Ann Quinlan, Nancy Cruzan: It's Time to Discuss Health Care Directives and more - These names should grab your attention.. Coma, respirator, feeding tubes, brain death, all descriptions of horrible conditions that these people suffered. Read more... 46. The Benefits Of Gifting - The obvious manner to minimize estate taxation is simply to reduce the size of your estate. Read more... 45. IRA Minimum Distribution Rules - The Required Minimum Distribution (RMD) Rules for calculating your annual distribution from an individual retirement account (IRA) have been greatly simplified. Read more... 44. What are the steps to estate probate? - An attorney retained by the executor of the estate files with the local Probate Court to distribute the deceased's assets. If no will is found. Read more... 43. Estate Planning Considerations – And Your Ex-Spouse - Before meeting with your estate planner, make two lists Read more... 42. The core of Estate Planning is the life of each human being - Do you recall the process that ultimately led to the completion of your estate plan? You asked a question or voiced a concern about estate planning. Do I need a living trust? Will my estate pay a lot in taxes at my death? Can I avoid probate expenses? Read more... 41. Serving a Great Need With A Life Insurance Trust - Your estate planner should establish a trust providing estate taxation protection as well as creditor protection. Read more... 40. Post Mortem Disclaimers - The uncertainty of whether the sunset provision will come into play, plus the two presidential elections before 2010, and Congress' continual debate over repealing the federal state tax, in addition to not knowing the date of our death makes estate planning difficult, but not impossible. Read more... 39. Grantor Annuity Trust In Estate Planning - The concept of transferring assets to your beneficiaries at a reduced tax cost is accomplished through the utilization of a Grantor Retained Annuity Trust (GRAT). Read more... 38. Death – It’s Not If But When - Several persons and entities should be notified as soon as possible. If the deceased had a will or living trust, the personal representative and contingent trustee must obviously be contacted. Read more... 37. Trusts - It’s The Way To Go !!! - Trusts may be Revocable or Irrevocable, but the incorporation of trusts in estate or gift planning provide excellent tax and probate savings. Read more... 36. Minimize Estate Tax Liability With Gifts Of Life Insurance - Remember, your estate includes everything you own at the moment of your death. Read more... 35. What And Why The Marital Deduction Is ---So Great ! - Although this gift from the federal government may seem too good to be true, the transfer to the surviving spouse must meet the compliance requirements to eliminate estate tax liability in the first spouse's estate. Read more... 34. Trusts - How They Can Work For You ! - Trusts are without doubt very effective Estate Planning Tools; whether Revocable or Irrevocable, they provide tax savings while preserving control over the assets in question. Read more... 33. The Family Limited Partnership : Is It A Good Idea ? - The Internal Revenue Service does not like Family Limited Partnerships (FLPs), it is really that simple. Read more... 32. Large Gifts - We hear repeated "street talk" about repealing the Estate Tax, however the Gift Tax is scheduled to remain in effect. Read more... 31. Estate Planning: Dealing With Uncertain Certainties - There are three certainties in life: death, taxes and change. These certainties are important in designing and, more importantly, maintaining a sound estate plan. Read more... 30. Intentionally Defective Grantor Trusts - What Is It And Why Do I Want One ? - How about transferring an asset to a trust so it will be removed from your estate and therefore not a taxable estate asset, Read more... 29. Education Planning - Providing for the education of a descendant may be one of your estate planning objectives. There are a variety of ways to achieve this goal. Read more... 28. A Smart Way To Turn Life
Insurance Into Cash !!! - By liquidating a policy for amounts
higher than the cash surrender value, policy owners can initiate important
financial opportunities with a cash infusion from the proceeds of an
unwanted, unaffordable or unnecessary life insurance policy. 27. Qualified Personal Residence Trust: Wealth Transfers to Children - Are you interested in making a substantial gift to your children, but prefer not to give away financial assets such as cash, stocks or bonds? Read more... 26. Joint Ownership: When Is It Appopriate ? - Many people own real estate or bank accounts with another person, often a spouse, adult child, other relative, or trusted friend. Read more... 25. The Process Of Probate - "Probate" is the process of identifying and gathering a decedent's assets, paying taxes, claims and expenses, distributing assets to beneficiaries and the wrapping up of a decedent's affairs in a court supervised setting. Read more... 24. Preserving Wealth - It is much more fun to accumulate and develop our assets than to talk about giving them up. Read more... 23. Beneficiary Designations Of IRA Accounts - For clients with a significant portion of their assets in a retirement plan, assets that will most likely be rolled over into an IRA account, designating a beneficiary is an important part of estate planning. Read more... 22. The Most Frequent Estate Planning Mistakes - Underestimating Exposure to Estate Taxation - Often people do not believe they are worth enough to be subject to Federal Estate Taxation. Read more... 21. Estate Planning - Necessary For You And Your Family, Here' Why ! - Estate planning is not only about dying; it is a lifelong process. The impact of estate planning extends beyond the span of an individual life. Read more... 20. The Economic Growth And Tax Relief Reconciliation Act Of 2001 - On May 26, 2001 the United State Congress passed a ten year tax cut bill that repeals the Federal Estate Tax beginning in 2010. Read more... 19. A Real Estate Residence Trust - How Great Is This !!! - A Qualified Personal Residence Trust (QPRT) is a trust in which the person establishing the trust, call the Grantor, reserves the use of a residence (either the Grantor's primary residence or a seasonal residence) for a specified term of years. Read more... 18. Choosing A Fiduciary - Your fiduciary is an integral part of your estate plan. Who should you appoint to coordinate your affairs upon incapacity or death? Read more... 17. Funding Trusts - What Does This Mean ? - Many estate plans provide for the creations of trusts after death for the benefit of a surviving spouse, children or a charity. Read more... 16. Estate Planning For Second Marriages - Amid all the hand-wringing, the fact is sometimes overlooked that the institution of divorce has established a history in this country. Furthermore - witness the rate of remarriage - Americans still believe strongly in marriage. Read more... 15. Select Your Domicile Carefully - If you have residences in more than one state, it is important to determine in which state you wish to establish your legal domicile. Read more... 14. Estate Tax Dispute
Procedures - It is a widely held belief that one of the most
unfortunate circumstances in modern society is to have a tax return
selected for audit by the Internal Revenue Service (Service). Estate tax
returns are subject to audit and adjustment like any other tax
return. 13. Medicaid, The Mistrick Decision, And Annuities - What Does This Mean ? - People are frequently confused about the difference between Medicare and Medicaid. Read more... 12. Financial Planning Needed For Retirees - If you are one of the many retirees without having prepared a financial plan, it is not too late to do so. Read more... 11. Proposed New 2001 IRA Minimum Distribution Rules - The Required Minimum Distribution (RMD) Rules for calculating your annual distribution from an individual retirement account (IRA) have been greatly simplified. On January 11, 2001, the IRS issued new proposed regulations. Read more... 10. Life Insurance As A Tax Investment - Life insurance can certainly be looked at from an investment perspective. All one needs to do is to compare premiums paid to benefits received, incorporating the time value of money into the equation. Read more... 9. Forms Of Joint Ownership - There are three basic forms of joint ownership: Tenancy in common; joint tenancy; and tenancy by the entirety. Anyone who owns property jointly should be familiar with the consequences of joint ownership. Read more... 8. Discussions With Family - Family, birth of our children, planning for our family's needs, birth of our grandchildren, estate planning, passing on our legacies, birth of our great-grandchildren, family ties live on; our legacies live on - only the generations change. Read more... 7. Medicare and Medicaid - Both "Medicare" and "Medicaid" are programs established by federal law that are intended to assist individuals with the payment of medical expenses. Read more... 6. The Beneficiary Of Your Estate - The vast majority of estate planning clients want their estates to pass to their family. Tremendous time and energy is spent to reduce the Internal Revenue Services’ share of the estate and thereby maximize the amount passing to the beneficiaries. But the IRS may not be the only stranger who will end up with a share of your estate. Read more... 5. Private Foundations - The thought of eliminating the exorbitant 55 percent Federal Estate Tax imposed on large estates is music to most taxpayer's ears. However, if you believe, as most taxpayers do, that "charity begins at home," then the IRS will win the war and inherit approximately half of your taxable estate. Read more... 4. Charitable Remainder
Trusts - A charitable remainder trust (CRT) funded during the
grantor's lifetime can be a very effective financial planning took,
providing the grantor valuable lifetime benefits. 3. When To Review Your Estate Plan - A truly effective estate plan is one that is reviewed and updated regularly. Because of the tax law changes of the past years, now may be an especially good time to review your plan. Read more... 2. Dynasty Trusts - Dynasty Trusts are specialized irrevocable trusts designed to shelter assets from transfer taxes over multiple generations, while at the same time allowing your heirs to enjoy the fruits of those assets. Read more... 1. Qualified Personal Residence Trust - The Qualified Personal Residence Trust (often referred to by its acronym, "QPRT") can be an effective estate planning technique for a high net worth individual. Read more... |
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