Posts tagged with: "estate+planning"
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13 Nov 2011, 7:58 am
Unlike financial assets, which can generally be divided easily amongst heirs, tangible personal property is unique. And the complexity of distributing a lifetime’s worth of possessions is something that many people overlook. [read post]
17 Aug 2011, 9:00 am
On August 5, 2011, the IRS published long-awaited guidance for executors of estates of people who died in 2010. Notice 2011-66 explains how these executors can opt out of the estate tax, and Revenue Procedure 2011-41 explains the special tax rules that apply to assets when executors opt out of the estate tax. [read post]
14 Dec 2012, 2:51 pm
A good estate plan is tailored to fit your needs; a better estate plan also accommodates your passions. Whether those passions are for wine, art or even stamps, you should think beyond mere insurance, which protects you when the collection is gone … Continue reading → [read post]
3 Feb 2011, 2:17 pm
Getting good estate planning forms and documents can be tricky. Many places will offer you free estate planning forms to get you in. If you get free estate planning forms you will probably get quality comparable to what you pay for them. Because estate planning requires more than one form, you will also be required to pay for the rest of the forms you need to get a complete set of estate planning documents. Like everything else, estate planning is buyer beware. Educate your self about what you… [read post]
14 Feb 2011, 4:00 pm
Family farms present a unique estate planning problem. The family farmers often operate on a thin profit margin (we hope it’s a profit), and yet, they are worth millions of dollars. AKA, they are cash poor and land rich.
Dad needs to continue to operate the farm, but for estate tax reasons it needs to be “divided up” among the kids. Even if there is never an estate tax problem, one or two of the kids want to operate the farm and the rest of the kids want nothing to do with the farm.
How… [read post]
31 Jan 2012, 8:25 am
We all know a succession plan is needed. But having the wrong plan can be just as disastrous. [read post]
25 Apr 2011, 1:33 pm
How is the net value of my estate determined?
To determine the current net value, add your assets, then subtract your debts. Include your home, business interests, bank accounts, investments, personal property, IRAs, retirement plans and death benefits from your life insurance. [read post]
27 Feb 2012, 9:03 am
The Internal Revenue Service has extended the deadline to file estate tax returns and make a portability election to benefit the surviving spouses of married individuals who died during the first six months of 2011. [read post]
16 Nov 2010, 9:00 am
"As you likely know by now (especially if you are a loyal reader of my Blog), the Federal Estate Tax lapsed in 2010 and Congress has not yet decided what to do about it. Last week I ran across another good end-of-year planning article, written by Robert Wood for Forbes. I think his tips are worth repeating here...." [read post]
3 Dec 2010, 12:43 pm
Today I read an article on KSL.com where a Salt Lake financial planner reported that "the number of individual households carrying life insurance is at its lowest rate in 50 years." [read post]
14 Mar 2012, 10:19 am
Multinational families increasingly are turning to high-end estate and tax planners to reduce tax bills when they shift money to children living in the U.S., whether or not their kids are U.S. citizens. [read post]
13 Oct 2011, 11:18 am
Many people want to use part of their estate to help charities they believe in—leaving a legacy of helping out the less fortunate, nurturing the arts or supporting other important causes. [read post]
25 Dec 2011, 4:42 am
Is using a third party a better way to donate your charitable dollars? [read post]
10 Nov 2010, 9:04 am
"The remaining months of 2010 may prove an uneasy time for tax and financial planning – with the status of Bush-era tax cuts and the possible return of the estate tax hanging in the balance while a “lame duck” congress still has the wheel. However, the Boston Globe reports the end of year holds some good news for retirement investors – thanks to new rules put into effect by the small business bill passed last month making Roth IRAs a more attractive option." [read post]
14 Feb 2012, 4:00 am
“The aim of every artist is to arrest motion, which is life, by artificial means and hold it fixed so that a hundred years later, when a stranger looks at it, it moves again since [...]Arresting Motion: Estate Planning for Artists is a post from: Epilawg [read post]
21 Sep 2011, 10:24 am
You can reverse a 2010 Roth IRA conversion. Then it's like the conversion never happened, which means the inflated conversion tax bill disappears. [read post]
17 Mar 2012, 9:00 am
Sometimes, I’ve noticed, the IRS itself gets a bit too creative. Exhibit A is its treatment of the estate of legendary modern art dealer Ileana Sonnabend who died in 2007, at the age of 92. [read post]
29 Sep 2011, 11:40 am
Living with Alzheimer’s disease is very difficult for the individuals affected and their loved ones. But by dedicating some time early on in the diagnosis and fighting for the cause during World Alzheimer’s Month and beyond, a family can know they have done everything to support their loved one to live a full life and protect their legacy. [read post]
29 Mar 2012, 9:07 am
So as a public service to those who are coping with the same tedious chores or may soon be, the Foreman family assembled a list of stuff to do, stuff almost everyone will have to do, after a loved one dies. [read post]
22 Sep 2010, 9:00 am
"We have developed our own checklist that we share with clients on a regular basis. If any of these issues are relevant to your life, it may be time to schedule an estate review." [read post]