Estate Articles Archive
- June 1, 2009 Tax Reform Preview
Change is in the air…tax change that is. The recently released “Green Book” from the Treasury contains a look at the tax laws coming down the pike. These may not measure up to the dramatic tax reform changes of yesteryear, but they certainly contain some serious tweaking. (Brace yourself to be semi-dazzled by all this tweaking.) Download File (366 KB, PDF)
The million-dollar estate is under attack. A divorce, a mishap, a period of unemployment, bad health, high mortgage payments, debts, a lawsuit—any number of scenarios can trigger a downward spiral. Tragically, a nice $1-million estate is at risk of never reaching the next generation of beneficiaries. Download File (391 KB, PDF)
“We have nothing to fear, except fear itself.” –Franklin Delano Roosevelt
These are fearful times in which we plan. Set phasers to “stun” as we assemble a landing party and beam down to planet Earth to assess an assortment of alien adversaries affecting financial planning. Download File (343 KB, PDF)
- March 1, 2009Nevada-nizing Asset Protection - H.R. 436 Retains Estate Tax
What if you could set up a trust for yourself? It would be oh, so simple: No middlemen, no third parties, no worries! Although most states have a problem with self-settled asset protection trusts, there are a few jurisdictions where statutory authority exists, albeit with some limits and practical considerations.
- February 1, 2009 Freeze, Squeeze & Burn Trusts
And now for something completely different. A super-charged multi-tasking trust that utilizes readily available techniques and turns them into a totally innovative and effective arrangement.
Estate-planning iconoclast Richard Oshins, key founder of the Inheritor’s TrustTM concept, has taken this concept to another level and estate planning may never be the same. His new approach: A beneficiary defective inheritor’s trust. Download File (333 KB, PDF)
- January 1, 2009 2009: Penultimate Plateau…or Pinnacle? & Memorable Quotations
Estate tax professionals, welcome to 2009, the promised land! We have made it through nearly the entire estate tax repeal phase-in from 2001 through 2009, the pinnacle of estate tax repeal.
Is this the fabled land of estate taxless nirvana? A tabula rasa of zero tax zen? If we see a white light should we go into the light? Or no, bad idea, run from the light! Are there any good mantras that rhyme with “unrealized capital gains?” Download File (406 KB, PDF)
- December 1, 2008 The Year in Review 2008 Plus Estates in the News
Whooosh! Another year has rushed by (except for the months when it dragged on, such as during an endless election, or when oil prices were heading toward $150 per barrel, or when staggering stock market losses left investors stunned, shocked, disturbed, and depressed or when a series of financial melt downs took place on such a grand scale). Download File (153 KB, PDF)
- October 1, 2008 A New Context For Expatriation Plus: Newman’s Own Estate
Expatriation to save estate tax in another country wouldn’t make sense if estate tax was on the verge of being repealed here in another year, i.e., by 2010, especially under the burdensome expatriation rules that previously applied. Both of those premises have changed—reversed in fact. The United States appears certain to retain its estate tax and now has a new approach to expatriation. Download File (35 KB, PDF)
- September 1, 2008 Capital Gains, Real Estate, and Strategies for the Final Frontier & Celebrity Estates
It can be a drag not being able to sell property simply because one is hoping for or expecting a stepped up basis if that property is still held at death. But is an investor completely restricted? Aren’t there a few loopholes through which an investor can safely transfer non-residential real estate during life without incurring capital gains? Download File (52 KB, PDF)
Forms of business are chosen for multiple reasons and keep evolving to meet modern needs. One of the newer forms is the Series LLC that allows many separate assets to remain as separate “cells” of the umbrella LLC for liability purposes, yet remain one single LLC, with a single tax return, for tax purposes. Download File (42 KB, PDF)
What happens to the estate of someone who is missing? When will a missing person be presumed dead for legal purposes? What happens if a person who has been legally declared dead then returns? The recent declaration of death for adventurer Steve Fossett helps illustrate some of these issues. Download File (90 KB, PDF)
- February 1, 2008 A Knight’s Tale: Also: The Zero Percent Capital Gains
Like a knight's quest from days of yore, the trustee of the William J. Rudkin Testamentary Trust has battled the Commissioner of the IRS from the Tax Court to the Second Circuit Court of Appeals and on to the highest court in the land. The United States Supreme Court has ruled that the investment advice received by a trust is subject to the 2% threshold to be deductible. Download File (63 KB, PDF)