Intentionally Defective Grantor Trusts
...gift tax. An intentionally defective grantor trust (IDGT) is a complete transfer to a trust for transfer tax purposes but an incomplete, or “defective,” transfer for income tax purposes. Because...
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Buy-Sell Agreements
...the owner of a small business can involve complex tax and non-tax issues when developing a buy-sell agreement among shareholders. From the standpoint of the corporation and the remaining shareholders,...
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...
Asset Protection
...Estate Planning Trust,” discusses why and when it is used and offers a model planning structure. INTRODUCTION Today, asset protection planning is generally a concept familiar to wealth-planning professionals worldwide....
New Tax Legislation Introduced: H.R. Bill 436 has Potential Changes to Estate and Gift Taxes and Available Discounts
...non-actively traded entity ownership interests between family members – Preserve the federal estate tax exemption equivalent at $3,500,000 – Set the marginal tax rate for estates exceeding the exemption at...
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,...
Why should I go to the trouble of planning my estate and writing a will?
...no longer be able to make decisions for yourself. • Coordinate estate planning with other kinds of financial planning. For example, the new tax law has made significant changes in...
Where Not To Die
...(in black) and the top tax rate (in yellow) vary by state. Eight states (shaded in orange) levy an inheritance tax, meaning the tax rate (in black) depends on who...
Estate Tax Revisit
...2011. The estate tax rates also apply to gifts during life; however the gift tax exemption has remained fixed at $1 million. Obama proposes freezing the estate tax at 2009...
A Good Time To Review Estate Tax Plans: Decline in asset value prompts new strategies
...to review estate tax plans. Now is a particularly good time for business owners to think about estate tax planning. One such planning vehicle is a grantor trust—a way to...
Taking Advantage of Low Interest Rates
...to avoid imputed interest for gift and income tax purposes. The 7520 rate is also calculated and published each month by the IRS and represents the interest rate used to...
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...