IRAs and qualified plans are great vehicles for saving for retirement. Contributions to the plans are not taxed, and the assets inside the plan enjoy tax free reinvestment and accumulation. The income tax is payable
Estate Planning for Non-US citizens By Parag Patel Esq. Non-US citizens (greencard holders or H-1 visaholders) are severely discriminated against by US estate tax laws. Since estate taxes are based on the size of your
Estate planning is concerned with the use, conservation and disposition of a person’s property and wealth. This involves two elements: (1) minimizing the gift or estate tax consequences that occur when a person’s property is
As its name implies, in a GRAT, you, the grantor, retain the right to an annuity for a fixed period of years from assets you’ve placed into a trust.
By Parag P. Patel, Esq. During our lifetime, most of us strive to create and build upon our net worth. We generate savings, purchase a home, and eventually invest in stocks, bonds, mutual funds, IRAs
Every storm eventually comes to an end...Now is the time to gift.
1. Business and real estate values may be down as much as 20% since last year at this time. This creates opportunities for transferring the business, stock or assets to children or key employees at
Most people know that they should have an estate plan in place; however, making estate planning a priority is difficult even in the best of times, let alone during times of financial crisis. While the
According to census bureau statistics, nearly half of married couples will at some time go through a divorce. If you are going through the divorce process, you’ve got a lot of company. So, do you
Estate tax planners have long employed intentionally defective grantor trusts to freeze the value of an asset for estate tax purposes while transferring assets out of the estate free of gift tax. An intentionally defective
By Parag Patel, Esq. What if your business partner retires, sells her portion of the business, or gets a divorce? To make sure there is a smooth transition following the departure of a business partner,
The stretch IRA concept is a wealth-transfer strategy that can help you extend the period of tax-deferred earnings on your retirement assets. After the owner of the IRA dies, the beneficiaries will also have the
