Joseph Marion, III

Joseph Marion, III

Adler Pollock & Sheehan P.C.

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Estate Planning Pitfall: Your documents are hard to find

No matter how much time is invested in designing an estate plan, one’s efforts will be for naught if his or her family can’t find essential documents in case of death or incapacitation. This article offers several tips for...more

4/9/2014 - Estate Planning

A family bank professionalizes intrafamily lending

Too often, people lend money to family members with little planning and regard for potential unintended consequences. But a “family bank” can enhance the benefits of intrafamily loans, while minimizing the risks. A family...more

4/8/2014 - Banks Lending

ABCs of HSAs: Learn how an HSA can benefit your estate plan

One health care arrangement that has been soaring in popularity in recent years has been the pairing of a high-deductible health plan (HDHP) with a Health Savings Account (HSA). The good news is that not only is an HSA a...more

4/7/2014 - Estate Planning Healthcare HSA

Boosting your estate planning power: How to “supercharge” a credit shelter trust

While high estate tax exemption amounts combined with portability of exemptions between spouses has reduced the effectiveness of credit shelter trusts in some cases, they continue to offer significant benefits, particularly...more

4/4/2014 - Estate Planning

Insight on Estate Planning - April/May 2014

In This Issue: - Boosting your estate planning power: How to “supercharge” a credit shelter trust - ABCs of HSAs: Learn how an HSA can benefit your estate plan - A family bank professionalizes intrafamily...more

4/3/2014 - Estate Planning HSA

Estate Planning Pitfall - You’ve chosen your executor hastily

Choosing the right executor — sometimes known as a “personal representative” — is critical to the smooth administration of an estate. Yet many people treat this decision as an afterthought. Given an executor’s many...more

1/31/2014 - Estate Planning Executors

Power of attorney abuse: What can you do about it?

A financial power of attorney — sometimes called a “power of attorney for property” or a “general power of attorney” — can be a valuable planning tool. But it’s susceptible to abuse by scam artists, dishonest caretakers or...more

1/30/2014 - Fraud Power of Attorney Scams

Thanks, Grandma and Grandpa! 3 estate-planning-friendly strategies to pay for a grandchild’s college education

It’s no secret that the cost of a college education continues to soar. But this article offers three options to help one’s grandchildren deal with this burden while saving gift and estate taxes: direct tuition payments to the...more

1/29/2014 - Estate Planning Financial Aid Gift Tax Grantor Trusts GST Paying For College Trusts Tuition

The BDIT A: trust with a twist

The beneficiary defective inheritor’s trust (BDIT) is a powerful estate planning tool that allows enjoyment of the benefits of a traditional trust without giving up control over the property. BDITs are particularly effective...more

1/28/2014 - Estate Planning Trusts

Insight on Estate Planning - February/March 2014

In This Issue: - The BDIT: A trust with a twist - Thanks, Grandma and Grandpa! 3 estate-planning-friendly strategies to pay for a grandchild’s college education - Power of attorney abuse: What can you do...more

1/27/2014 - Estate Planning Estate Tax Inheritance Inheritance Tax Trusts

Insight on Estate Planning - Year End 2013: Estate Planning Pitfall: Your estate plan leaves specific assets to specific heirs

Planning an estate around specific assets is risky and, in most cases, should be avoided. If specific assets — such as homes, cars or stock — are left to specific people, they may end up being disinherited. This article...more

11/26/2013 - Estate Planning Heirs Life Insurance Mutual Funds

Insight on Estate Planning - Year End 2013: Provide for family members with special needs using an SNT

A special (or “supplemental”) needs trust (SNT) allows one to enhance a family member’s quality of life without jeopardizing his or her eligibility for government benefits, such as Medicaid or Supplemental Security Income....more

11/25/2013 - Estate Planning Special Education

Insight on Estate Planning - Year End 2013: Can portability help preserve retirement benefits?

The American Taxpayer Relief Act of 2012 (ATRA) made the estate tax exemption “portability” feature permanent. This allows a surviving spouse to take advantage of a deceased spouse’s unused federal gift and estate tax...more

11/22/2013 - American Taxpayer Relief Act Estate Planning Estate Tax Generation-Skipping Transfer IRA Portability Retirement Plan Tax Deferral

Insight on Estate Planning - Year End 2013: State death taxes can be hazardous to your estate

Now that the federal gift and estate tax exemption is permanently set, many people are feeling more relaxed about the need for estate planning. But it’s important not to overlook state death taxes. Without planning, these...more

11/21/2013 - Estate Planning Estate Tax

Insight on Estate Planning - Year End 2013

In This Issue: - State death taxes can be hazardous to your estate - Can portability help preserve retirement benefits? - Provide for family members with special needs using an SNT - Estate...more

11/20/2013 - American Taxpayer Relief Act Estate Planning Estate Tax Gift Tax Portability Retirement Plan Special Needs Trust

Insight on Estate Planning - October/November 2013: Estate Planning Pitfall: A beneficiary designation or joint title overrides...

Inattention to beneficiary designations and jointly held assets can quickly unravel an estate plan. Many don’t realize that their will doesn’t control the disposition of “nonprobate assets,” such as life insurance policies,...more

10/10/2013 - Beneficiaries Estate Planning IRA Joint Accounts Life Insurance Retirement Plan

Insight on Estate Planning - October/November 2013: Using an FLP or LLC? Beware the step transaction doctrine

Either a family limited partnership (FLP) or a limited liability company (LLC) can allow the transfer of a significant amount of wealth to the next generation at a discounted value for gift tax purposes. But if the IRS...more

10/9/2013 - Estate Planning Estate Tax Family Members Gift Tax Limited Partnerships LLC

Insight on Estate Planning - October/November 2013: Estate planning for same-sex spouses: What the Supreme Court’s DOMA ruling...

In June, the U.S. Supreme Court ruled unconstitutional Section 3 of the Defense of Marriage Act, which restricted the definition of “marriage” to a legal union between a man and a woman. Same-sex married couples are now...more

10/8/2013 - DOMA Estate Planning Estate Tax Marriage Same-Sex Marriage SCOTUS US v Windsor

Insight on Estate Planning - October/November 2013: To preserve your wealth, consider a DAPT

For affluent families with significant liability concerns, foreign asset protection trusts (FAPTs) probably offer the greatest protection against creditors’ claims. But those who prefer to avoid the complexity and expense of...more

10/7/2013 - Beneficiaries Estate Planning Trusts

Insight on Estate Planning - October/November 2013

In This Issue: - To preserve your wealth, consider a DAPT - Estate planning for same-sex spouses: What the Supreme Court’s DOMA ruling means - Using an FLP or LLC? Beware the step transaction...more

10/4/2013 - Beneficiaries DOMA Domestic Asset Protection Statute Estate Planning Family Limited Partnerships Gift Tax LLC Portability Same-Sex Marriage SCOTUS Spendthrift Trusts

Insight on Estate Planning - August/September 2013: Estate Planning Pitfall - You haven’t reviewed your trusts this year

If an estate plan includes one or more trusts, it’s a good idea to review them in light of recent tax law changes. Higher income taxes — on individuals as well as trusts — may make it advisable to rethink the way the trusts...more

8/9/2013 - Capital Gains Estate Planning Grantor Trusts Income Taxes Net Investment Income Nongrantor Trusts Tax Increases

Insight on Estate Planning - August/September 2013: Making gifts still matters, even after ATRA

The American Taxpayer Relief Act of 2012 (ATRA) eliminated much of the uncertainty that plagued estate planning for years by making two key provisions “permanent”: the $5 million gift and estate tax exemption (adjusted...more

8/8/2013 - American Taxpayer Relief Act Estate Planning Estate Tax Exemptions Gift Tax Gift-Tax Exemption

Insight on Estate Planning - August/September 2013: A good reason to revisit your estate plan - Accounting for digital assets

If a person dies without addressing digital assets in his or her estate plan, loved ones or other representatives may not be able to access them without going to court — or, worse yet, may not even know they exist. These...more

8/7/2013 - Digital Assets Estate Planning

Insight on Estate Planning - August/September 2013: Is your estate plan bulletproof? Techniques for avoiding litigation over your...

An inherent problem with wills and other estate planning documents such as trusts is that, when the time comes to put them into action, they can be objects of dispute. Fortunately, there are strategies a person can implement...more

8/6/2013 - Estate Planning Inheritance Litigation Strategies

Insight on Estate Planning - August/September 2013

In This Issue: - Is your estate plan bulletproof? Techniques for avoiding litigation over your estate - A good reason to revisit your estate plan: Accounting for digital assets - Making gifts still matters, even...more

8/5/2013 - Digital Assets Estate Planning Inter Vivos Gifts Trusts

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