Buy-Sell Agreements
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,
Stretch IRA – How Your IRA Can Survive Several Generations
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
Asset Protection
For the client who needs to protect assets, estate planning may include the use of asset protection trusts (such as foreign-situs trusts) that will put assets safely out of reach. Although there are potentially many
New Tax Legislation Introduced: H.R. Bill 436 has Potential Changes to Estate and Gift Taxes and Available Discounts
H.R. Bill 436: Potential Changes to Estate and Gift Taxes and Available Discounts On January 9, 2009, Bill 436 was introduced to the House by Representative Earl Pomeroy (D-ND). The bill, referenced as H.R.
Review Your Guardian Nominations Periodically
Celebrity deaths often highlight various estate planning issues as prior posts have discussed. Michael Jackson’s death brought public awareness to issues about choosing your executor and trustees, pour over wills, and guardianship. You may recall
Why should I go to the trouble of planning my estate and writing a will?
Estate planning pays real dividends—in results achieved, in dollars saved, and, most important, in security and peace of mind. And it doesn’t have to be expensive, traumatic, or even especially time consuming. An estate plan
Estate Tax Revisit
There are many other viable estate-planning tools and techniques that should be discussed with your tax adviser, but the key is to plan ahead.
A Good Time To Review Estate Tax Plans: Decline in asset value prompts new strategies
Now is a particularly good time for business owners to think about estate tax planning.
Taking Advantage of Low Interest Rates
The Federal Reserve’s interest rate cuts haveaffected two important interest rates used inestate planning – the “applicable federal rates”(“AFRs”) under Internal Revenue Code §1274and the “7520 rate” under Internal RevenueCode §7520. AFRs are calculated and
Letter to Your Spouse
By Parag Patel, Esq. In addition to your estate planning, it’s a good idea to have a non-binding letter to your spouse, children and other heirs outlining where the important documents are kept and who
$3.5 Million Federal Estate Tax Exemption for 2009 Could Mean Higher State Death Taxes
If the federal exemption is greater than the state exemption, the difference may become subject to state death taxes.