...conduct Medicaid planning including gifting strategies on behalf of the institutionalized spouse, it must specifically include gifting powers. While blanket gifting provisions, giving authorization generally to make gifts of the...
...the standard methods of annual gifting, Grantor Retained Annuity Trusts (“GRATs”) have become increasingly attractive to clients looking for ways to maximize their gifting opportunities. A GRAT is an irrevocable...
...are helpful when deciding how detailed your records need to be. Record Keeping for individuals http://www.irs.gov/pub/irs-pdf/p552.pdf Starting a business and keeping records http://www.irs.gov/pub/irs-pdf/p583.pdf Travel, Entertainment, Gift, and Car Expenses http://www.irs.gov/pub/irs-pdf/p463.pdf...
...to the trust for premium payments generally will qualify for the annual gift tax exclusion. The life insurance trust typically provides that, during your lifetime, principal and income, in the...
When civil unions became legal for same-sex couples in New Jersey last year, the lesbian, gay, bisexual and transgender community celebrated a hard-won victory. But conflicting laws for LGBT partners...
...no later than Dec. 31, 2008, by making a completed gift. Unused annual exclusions cannot be carried over to future years. Planning Point: A gift must be “complete” in order...
...complicated, but at its heart is the miracle of compounding. Over the course of 60 years, assuming an 8% rate of return, $200,000 in an IRA can pay out more...
...will protects your assets from being used for unnecessary and costly life support. Without a living will, there is no authority, outside of a court proceeding, to allow a doctor...
...to facilitate gifting, since interests in the entity given to junior family members typically qualify for minority interest and lack of marketability discounts. These discounts can provide powerful leveraging. However,...
...payment card transactions (credit and debit cards) will be required to report a merchant’s annual gross payment card receipts to the IRS (and to the merchant). The new law also...
...establishing and funding the LLC, including 1) joint management of family assets, 2) combining family assets to maximize investment opportunities, and 3) enabling equal transfers to her daughters. Some key...
...own residential real estate as tenants by the entirety thereby avoiding probate and transferring full title to the surviving spouse by operation of the law in the event of the...
