Posts tagged with: "estate+planning"
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4 Nov 2010, 9:00 am
Most of my clients, especially small-business owners/managers, doctors, lawyers, and accountants, have substantial IRA accountants. And, even clients that don't have substantial balances still have some IRA balance, and therefore need some planning. When it comes to estate and tax planning, required distributions, taxation and beneficiary designations are among the most often overlooked aspects of retirement planning – and yet these are some of the most important issues. There is a common saying… [read post]
19 Oct 2012, 8:00 am
Here on Epilawg, we already have great articles about the estate planning for social media accounts and the importance of having an estate plan that addresses ownership of digital art. This article will address the importance of giving fiduciaries [...]Digital assets and your fiduciaries is a post from: Epilawg [read post]
23 Feb 2012, 8:16 am
If you're not running for president, and don't have to worry about public relations, what are the legitimate reasons for moving money offshore? [read post]
10 May 2011, 9:51 am
Removing assets from your estate is a great way to reduce estate taxes before you die.
So, spend some and enjoy it!
Also, you probably know whom you want to have your assets after you die. If you can afford it, why not give them some assets now and save estate taxes? It can be very satisfying to see the results of your gifts-- something you can't do if you keep everything until you die. Appreciating assets are usually best to give, because the asset and future appreciation will be out of your… [read post]
11 Oct 2011, 11:13 am
The Center on Philanthropy at Indiana University launched a free searchable database, the Million Dollar List, that captures 61,461 publicly-announced charitable gifts of $1 million or more made since 2000. [read post]
9 Jan 2012, 1:17 pm
Once you've created an estate plan, it is important to keep it up to date. You will need to revisit your plan after certain key life events. [read post]
15 Mar 2012, 9:00 am
Mark Zuckerberg and Dustin Moskovitz, the co-founders of Facebook and two of the world’s youngest billionaires, may seem too young to be thinking about estate planning. But in 2008, when they were both 24, they used an estate planning tool that is more familiar to people two or three times their age. [read post]
20 Nov 2012, 10:48 am
Not all small business owners wear slacks. Instead, some opt for overalls or jeans and work boots and make their offices in barns and fields, tending livestock and crops. Regardless of the uniform, every small business owner faces an uphill struggle in the scheduled federal estate tax increase. The difference is that for farmers, the [...] [read post]
1 Jan 2011, 8:43 am
Are you and your spouse both U.S. citizens? If not, the foreign citizenship of you and/or your spouse may have a surprising estate tax impact. THE MARITAL DEDUCTION If an individual’s estate exceeds the estate tax exemption amount ($1 million for federal and Minnesota estate taxes in 2011, if no Congressional action), he or she [...]Citizenship Impacts Estate Taxes is a post from: Epilawg [read post]
14 Mar 2012, 10:31 am
There are many do-it-yourself power of attorney forms available; however, it is a good idea to have an attorney draft the form for you. There are many issues to consider and one size does not fit all. [read post]
15 Jan 2010, 5:35 pm
Utah Advance Health Care Directives
A living will is a declaration that directs the kind of medical care a person wants in the event that person suffers from a terminal condition. Most people understand this document as giving a person the ability to withhold or withdraw life-prolonging procedures; a person may also execute a living will expressing that he or she wants life-prolonging procedures. This prevents family members from getting permission to withdraw life support even though there may not… [read post]
22 Feb 2012, 7:07 am
What kind of plan should I fund for child's education? There are a number of choices, including: 529 Plan, UTMA (uniform trust for minors act), Coverdell & more. I'm going to highlight the differences in 2, the 529 vs. UTMA. read more [read post]
20 Sep 2011, 10:53 am
There are many options to protect your children from themselves but the options are the epitome of tough love. Still, they could help your child in the end. While planning for your estate addresses many concerns, likely providing your loved ones is at the top of the list. But what... [read post]
4 Dec 2011, 9:10 pm
Not so fast: With unique assets, things aren't always straightforward. More specifically, owners of unique assets - such as family businesses, legacy real estate and valuable art, coin and other collections - need to consider specialized risk management. [read post]
30 Sep 2011, 11:46 am
How does a retiree replace the interest income from a certificate of deposit paying more than 5% when the rate on a new CD is 1.3%? One solution: Donating the principal to a nonprofit in the form of a "charitable gift annuity" in exchange for lifetime fixed annuity payments. [read post]
25 Mar 2011, 10:58 am
Although much attention is generally given to the federal estate tax, many never realize or consider that some states also impose their own taxes upon the death of an individual. State Estate Tax Like the federal estate tax, an estate tax imposed by a state is based on the value of the deceased person’s estate, [...]State Estate & Inheritance Taxes: Will You Be Impacted? is a post from: Epilawg [read post]
18 Oct 2011, 11:11 am
To follow in [Reverend Crummey’s] footsteps, set up a trust and have it buy a life insurance policy on your life. Someday when you die, the trust will receive the insurance proceeds and pay them out to the beneficiaries listed in your trust. [read post]
22 Sep 2011, 1:00 pm
Deciding how to leave your assets to your kids is tricky enough. If your adult child has a chronic disability, the task is much more complicated. Estate planning is never easy, if only because it means thinking about protecting your loved ones when you’re no longer around. It’s bad enough making plans to protect self-sufficient heirs who take care of themselves and an inheritance. However, it can be a real challenge when planning for heirs with special needs for a variety of personal and legal… [read post]
29 May 2012, 10:25 pm
Insight Law is a dedicated Seattle Estate Planning Law Firm serving Renton, Kent, Federal Way, Auburn, Tukwila, Burien, Normandy Park, Maple Valley, Enumclaw, Covington, Des Moines, Seatac, and West Seattle. Call Today For A Free Consultation.Please click "Home" to read our blog. Click "About" to learn about our firm. Click "Locations" to get a map and directions to our four convenient locations. Click the link below to visit our firm website.Insight Law - South King County Location: 15111 8th Ave… [read post]
19 Aug 2011, 9:00 am
If you are giving a large gift, you need to be aware that the IRS is watching. Accordingly, you need to secure good tax and legal advice before making large gifts. Often, the answers are simple. However, the consequences for errors in gifting can be significant. [read post]