David Riedel

David Riedel

Adler Pollock & Sheehan P.C.

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Estate Planning Pitfall - You haven’t taken state estate taxes into account

A generous gift and estate tax exemption means only a small percentage of families are subject to federal estate taxes. But it’s important to consider state estate taxes as well. Although many states tie their exemption...more

2/5/2016 - Estate Tax Estate-Tax Exemption Residency Status State Taxes

Trusts and taxes - Understanding how one affects the other can benefit your estate plan

Trusts typically are a main component of an estate plan. But many may not know how higher taxes can impact a trust’s overall effectiveness. This article explains how the current tax environment affects trust planning....more

2/4/2016 - Capital Gains Estate Planning Income Taxes Intentionally Defective Grantor Trusts Net Investment Income Nongrantor Trusts Trusts

Asset protection: Back to basics

Asset protection trusts can be highly effective vehicles for protecting wealth in today’s litigious society. But these trusts can be complex and expensive, so they’re not right for everyone. For those seeking simpler asset...more

2/3/2016 - Asset Protection Family Limited Liability Companies Family Limited Partnerships Fraudulent Conveyance Gifts Qualified Retirement Plans Risk Assessment Tenancy by Entirety

When interest rates are low, it’s high time for estate planning

Interest rates remain at record lows, and while many experts believe they’ll begin to rise soon, it’s likely they’ll rise slowly. So it’s an ideal time to implement estate planning strategies that are most effective in a...more

2/1/2016 - Charitable Lead Annuity Trust Grantor Retained Annuity Trust Intentionally Defective Grantor Trusts Interest Rates Intra-Family Loans IRS Transfer Taxes

Insight on Estate Planning - February/March 2016

When interest rates are low, it’s high time for estate planning - Interest rates remain at record lows, and while many experts believe they’ll begin to rise soon, it’s likely they’ll rise slowly. So it’s an ideal time to...more

1/29/2016 - Estate Tax Family Limited Liability Companies Family Limited Partnerships Gifts GRATs Intentionally Defective Grantor Trusts Interest Rates Intra-Family Loans IRS Qualified Retirement Plans

Estate Planning Pitfall - You’re selling your interest in a charitable remainder trust

Recently finalized regulations eliminate a potential tax shelter involving the sale of an interest in a charitable remainder trust. This brief article offers an example of how the tax shelter worked before the new regs and,...more

12/7/2015 - Capital Gains Charitable Remainder Trust Estate Planning Popular Securities Tax Rates Tax Shelters

The family vacation home Relax — but don’t relax the rules

A shared family vacation home can be a great place for family bonding, but don’t get too relaxed. A little planning — together with some clear rules about the usage of the home — can go a long way toward avoiding conflict and...more

12/4/2015 - Estate Planning Family Limited Liability Companies Family Limited Partnerships Legal Title Property Tax Vacation Homes

Paying for LTC insurance using a tax-free exchange

Nothing can throw a monkey wrench into an estate plan like incurring long-term care (LTC) expenses. An LTC insurance policy can offset these costs, but the premiums can be expensive. One potential source for funding LTC...more

12/3/2015 - Estate Planning Life Insurance Long-Term Care Pension Protection Act of 2006 Tax-Free Exchanges

Defined-value gifts: A formula for estate planning success?

Affluent families who wish to make large lifetime gifts should consider using defined-value clauses or other formula clauses to minimize or eliminate gift taxes. This article discusses why these clauses are especially...more

12/2/2015 - Defined Value Gifts Estate Planning Gift Tax

Insight on Estate Planning - Year End 2015

Paying for LTC insurance using a tax-free exchange - Nothing can throw a monkey wrench into an estate plan like incurring long-term care (LTC) expenses. These expenses — for nursing home stays, assisted-living...more

12/1/2015 - Charitable Remainder Trust Defined Value Gifts Estate Planning Long-Term Care Vacation Homes Year-End Tax Planning

Estate Planning Pitfall: You jointly own property with a family member

A common estate planning mistake that many people make is to own property jointly with a child or other family member. True, adding a loved one to the title of your home, bank account or other property can be a simple...more

10/9/2015 - Creditors Estate Planning Estate Tax Family Members Gift Tax Income Taxes Jointly-Owned Property

Addressing adopted children or stepchildren in your estate plan

Families that have children who are adopted, or stepchildren who haven’t been legally adopted, face unique estate planning challenges. Additional consideration must be taken when a family includes an unmarried couple in a...more

10/8/2015 - Adopted Children Cohabitation Domestic Partnership Estate Planning Inheritance Stepchildren Trusts Wills

Use a noncharitable purpose trust to achieve a variety of goals

Generally, trusts must have one or more human beneficiaries, but there’s an exception for certain “purpose” trusts. One popular type of purpose trust is a charitable trust. But don’t overlook the noncharitable purpose (NCP)...more

10/7/2015 - Art Collections Beneficiaries Estate Planning Family Businesses Jurisdiction Noncharitable Purpose Trusts Pets Public Interest Trusts

The net investment income tax and your estate plan How one affects the other

The 3.8% net investment income tax (NIIT) can affect an estate plan in two ways: First, it can increase tax on capital gains, taxable interest and other investment income, reducing the amount of wealth available to heirs....more

10/6/2015 - Estate Planning Estate Tax Modified Adjusted Gross Income Net Investment Income NIIT Trusts

Insight on Estate Planning - October/November 2015

In This Issue: - The net investment income tax and your estate plan: How one affects the other - Use a noncharitable purpose trust to achieve a variety of goals - Addressing adopted children or stepchildren in your...more

10/5/2015 - Adopted Children Estate Planning Estate Tax Gift Tax Income Taxes Inheritance Jointly-Owned Property Modified Adjusted Gross Income Net Investment Income Noncharitable Purpose Trusts Stepchildren Trusts

Estate Planning Pitfall: Your powers of attorney are more than a few years old

Health care and financial powers of attorney are critical components of an effective estate plan. As this article explains, after executing powers of attorney, it’s important to periodically review them and execute new ones. ...more

8/6/2015 - Advance Directives Designated Agent Durable Power of Attorney Estate Planning Financial Power of Attorney

Make net gifts to reduce your gift tax rate

Lifetime giving is a smart strategy to reduce a taxable estate, but the gift tax rate of 40% is steep. If one has used up his or her $5.43 million gift and estate tax exemption and would like to potentially reduce his or her...more

8/5/2015 - Estate Planning Estate Tax Gift Tax Gifts Internal Revenue Code (IRC) Tax Court

The ABLE account: A good alternative to a special needs trust?

Late last year, Congress passed, and the President signed, the Achieving a Better Life Experience (ABLE) Act. The act authorizes a new, tax-advantaged savings account, modeled after the Section 529 college savings account,...more

8/4/2015 - 529 Plans ABLE Act Disabled Children Paying For College Savings Accounts Special Needs Trust Tax Deductions

Premarital planning - Protecting your assets without a prenup

Protecting family assets in the event of a divorce is particularly significant for family business owners, who typically want to avoid sharing ownership with their ex-spouses or their children’s ex-spouses. A prenuptial...more

8/3/2015 - Community Property Divorce Domestic Asset Protection Trust (DAPT) Estate Planning Estate Tax Family Businesses Foreign Asset Protection Trusts (FAPT) Foreign Trusts Gift Tax Marital Assets Prenuptial Agreements Separate Property Spouses Trusts

Insight on Estate Planning - August/September 2015

In This Issue: - Premarital planning: Protecting your assets without a prenup - The ABLE account: A good alternative to a special needs trust? - Make net gifts to reduce your gift tax rate - Estate Planning...more

7/31/2015 - ABLE Act Estate Planning Gift Tax Gifts Marital Assets Power of Attorney Savings Accounts Special Needs Children

Estate Planning Pitfall: Your IRA owns real estate

Most people invest their IRA funds in stocks, bonds and mutual funds. But others may opt for nontraditional investments, such as real estate, in the hope of boosting their returns. As this article details, when choosing to...more

6/17/2015 - Capital Gains Estate Planning Financial Planning Income Taxes IRA Popular Prohibited Transactions Real Estate Investments Retirement Plan UBIT

Estate tax relief for family businesses

If a substantial portion of a person’s wealth is tied up in a family or closely held business, he or she may be concerned that the estate will lack sufficient liquid assets to pay estate taxes. If that’s the case, heirs may...more

6/16/2015 - Closely Held Businesses Estate Planning Estate Tax Family Businesses Internal Revenue Code (IRC) Tax Deferral

Does a private annuity have a place in your estate plan?

A private annuity can be a powerful strategy for passing assets to heirs in a tax-efficient manner. In a typical private annuity transaction, a parent transfers property to his or her children in exchange for their unsecured...more

6/12/2015 - Annuities Deferred Private Annuities Estate Planning Estate Tax Gift Tax

The basics of basis: Basis planning can result in significant tax savings

Because the gift and estate tax exemption is at a record high of $5.43 million for 2015, many people have shifted their focus from estate planning to income tax planning. An understanding of basis — and the benefits of the...more

6/11/2015 - Capital Gains Estate Planning Estate Tax Gifts Trusts

Insight on Estate Planning - June/July 2015

In This Issue: - The basics of basis: Basis planning can result in significant tax savings - Does a private annuity have a place in your estate plan? - Estate tax relief for family businesses - Estate Planning...more

6/9/2015 - Deferred Private Annuities Estate Planning Estate Tax Family Businesses IRA Real Estate Investments

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