Posts tagged as:

Estate Planning

Estate Tax Hokey Pokey

September 24, 2009
Photo by goldberg

The future of the Federal Estate Tax remains clouded. We have been keeping our ear to the ground (actually we have been calling people and searching the Web for clues) to help our advisors predict what will happen with the Estate Tax. As most of you know, under the 2001 Economic Growth and Tax Reconciliation [...]

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Estate Planning for Your Other Children – Your Pets

August 28, 2009
Photo by digital_image_fan

When we die or become incapacitated, the strategic planning we’ve put in place to provide for loved ones goes to work. The important things will be taken care of. Our bills continue to get paid, out investments continue to grow for future generations, and any minor children are cared for by loving guardians. It seems [...]

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Trust Terminology Part 3: Several Ways to Trust

August 21, 2009
istock_000005013722small

This year, I provided you with a kind of “cheat sheet” that explained some basic Trust terminology, followed by a second article that defined an Irrevocable Life Insurance Trust (ILIT), a Qualified Terminable Interest Trust (QTIP), and an Intentionally Defective Grantor Trust (IDGT). This is the third installment in our series on basic trust terminology. [...]

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What Kind of Person Should be Your Trustee?

July 30, 2009
Photo by Joi

IIf you are a business owner, then you understand the importance of earning a client’s trust. They want a sense of your integrity and experience level. They want to know your motives are not just about making a buck and that you will look out for their best interests. When you create a Revocable Living [...]

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Defective Grantor Trusts Get More Attractive

April 9, 2009
Economic Recession

The Wall Street Journal has published an excellent analysis of the effectiveness of Intentionally Defective Grantor Trusts during an economic recession. Unusual Trusts Gain Appeal in Unusual Time – WSJ.com. While these trusts carry risks and are often scrutinized by the IRS, estate planning lawyers are seeing an increased interest in them this year. With [...]

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What Parents Need to Know About Joint Tenancy

April 3, 2009
Joint Tenancy

When most of you bought your first home, you probably signed a deed as a joint tenant next to your spouse’s signature. That’s the way your parents and grandparents did it, and the real estate agent told you it would to protect the surviving spouse from probate court after one of you dies. It’s not [...]

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I Do. I Don’t. I Do Again.

March 25, 2009
Prenuptial Agreement

A recent Florida case illustrates one big reason why clients need to constantly update their planning. Although this case is unusual, it really does a great job of showing how life changes can destroy the best of plans or intentions. Marriage Made for a Soap Opera When Howard Herpich and Svetlana Ozerova married in February [...]

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Ailing Tycoon’s After-Death Wishes Bungled by Poor Estate Planning

March 10, 2009
Max Farash

Real estate developer Max Farash is a generous man. His charitable foundation has given away millions to worthy causes over the last ten years. Long before dementia ravaged the 95-year-old’s once sharp business mind, Farash drew up plans to transfer most of his wealth – valued somewhere between $200 to $500 million – to his [...]

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Sharing The Family Business, Without Giving Up Control

January 14, 2009

Another great way to insulate your assets during a down economy and minimize your estate tax liability is starting a Family Investment Company (FIC). Who can use this strategy? Families who want to lessen their estate tax burden, increase asset protection, and keep assets in the family. What are the benefits? By gifting interests in [...]

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Freeze the Value, Avoid Estate Tax, Give Kids the Benefit

December 17, 2008

With a Grantor Retained Annuity Trust (GRAT), you can avoid gift-tax consequences while temporarily freezing the value of an asset that will be worth more later. The asset can be shares in a company that is likely to go public or beaten down shares of stock that are likely to appreciate. Like loans, GRATs mature [...]

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