Estate Planning: More Than A Will
...appoint a guardian for their children and a trustee to manage a child’s money until they are old enough to handle it themselves. Often, individuals wish to care for their...
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Family Limited Partnerships, or more commonly now, Family Limited Liability Companies, are great vehicles for management & protection of family assets
...our capital contribution was first credited to the senior member’s (parent’s) capital account and then, a discrete time later, followed by a gift of the partnership interest to the children?...
Deferral is the Name of the Game: Funding a Trust With Retirement Assets
...that a trust is created automatically or via a disclaimer approach for the benefit of the surviving spouse and the decedent’s children and grandchildren and funded with the decedent’s then...
New guidance on fixing a botched IRA stretch after it’s “too late”
...the beneficiary could come back into conformance with the life expectancy stretch rules by simply making up the missed RMDs, paying the associated penalty, and then proceeding forward with the...
Mediating Probate Disputes
...child may believe that he or she should have received more because of care given an older or incapacitated parent. A dispute may arise between children of one marriage and...
Introduction to Special Needs Estate Planning
...benefits profile, a distribution plan, and the exploring of housing options. Planning the future of a child or adult with a disability is an enormous challenge. It requires specialized planning...
THE ABCs OF STRETCH IRAs
...work? Simply put, a stretch IRA is a Roth or traditional IRA with assets that pass from the original account owner to a younger beneficiary when the original account owner...
A Change in Domicile to Florida Can Help Minimize Taxes
...change, if challenged, such intent must be demonstrated by clear and convincing evidence, which requires a high degree of proof. The lack of such evidence may result in not only...
“Leave a Legacy” – Beneficiary Designation on your Retirement Plan
...your death, then use other assets to make a charitable gift. But there’s a tax trap in such an arrangement: The IRS considers the balance left in your retirement account...
Supplemental Needs Trusts
...account is maintained for each individual beneficiary. All accounts are pooled for investment and management purposes. The trust (or more accurately, an account in the pooled trust) may be created...
Problems with Joint Tenancy Property
...die. Also, the entire asset may be available to the creditors of either joint tenant. Assets may not reach your children: Quite often assets passing to a surviving joint tenant...
2007 Year-End Tax Planning Tips
...tax credit for home energy saving improvements, (such as insulation and energy-saving windows), and the option for individuals who have attained age 70½ to transfer IRA funds directly to charity....