Joseph Marion, III

Joseph Marion, III

Adler Pollock & Sheehan P.C.

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Estate Planning Pitfall: You’ve videotaped your will

Technology enables a deceased person to express wishes to his or her assembled family from beyond the grave, but states generally require wills to be physical documents that are written, signed and properly witnessed during a...more

2/15/2017 - Competency Requirements Estate Planning Video Recordings Wills Writing Requirement

Is a donor-advised fund right for you?

Those who make sizable gifts to charitable causes can realize personal rewards from their generosity and claim a deduction on their tax returns. One drawback is that, once the money or assets are contributed, they generally...more

2/14/2017 - Charitable Donations Donor-Advised Funds (DAFs) Estate Planning Estate-Tax Exemption Gifts Public Charities Tax Deductions

Maintaining family harmony: Balance beneficiaries’ needs with a total return unitrust

A traditional trust can sometimes create a conflict among the lifetime and remainder beneficiaries. This makes it more difficult for an estate plan to achieve its objectives and places the trustee in a difficult position. The...more

2/13/2017 - Beneficiaries Estate Planning Fiduciary Duty Trustees Trusts

Stretch out estate tax on business interests

Frequently, heirs of successful entrepreneurs are forced to sell off business interests at “fire sale” prices to help pay federal estate taxes. To alleviate the tax strain, Internal Revenue Code Section 6166 allows heirs to...more

2/10/2017 - Business Succession Closely Held Businesses Estate Tax Internal Revenue Code (IRC) Life Insurance Small Business Tax Deferral

Insight on Estate Planning - February/March 2017

In This Issue: - Stretch out estate tax on business interests - Maintaining family harmony: Balance beneficiaries’ needs with a total return unitrust - Is a donor-advised fund right for you? - Estate planning...more

2/9/2017 - Beneficiaries Donor-Advised Funds (DAFs) Estate Planning Estate Tax Tax Deductions Trusts Video Recordings Wills

Estate Planning Pitfall: You’re donating high-basis stock to charity

As the end of the year approaches, many may begin thinking about making gifts to qualified charitable organizations as a way to reduce potential estate and income tax liability while supporting a worthy cause. This brief...more

12/8/2016 - Charitable Donations Estate Planning Estate Tax Income Taxes Stocks Tax Exemptions

Preparing for a new year: Take time now for a quick estate plan review

Year end is the time to make certain estate planning provisions to protect the interests of heirs and minimize potential estate tax liability. It’s also a good time to conduct a quick review of your estate plan. This article...more

12/7/2016 - Durable Power of Attorney Estate Planning Modification Year-End Planning

If it’s broken, fix it! Trusts that no longer achieve their objective can be repaired

What with changing life circumstances and new tax laws, not to mention potential mistakes made when an estate plan was first drafted, the trusts used in the plan may now be “broken.” This article details why trusts break and...more

12/6/2016 - Estate Planning Estate Tax Generation-Skipping Transfer Gift Tax Modification Reformation Trusts

6 estate planning techniques for blended families

A “blended family” is more than just a staple of TV sitcoms. Today, it’s not unusual for a household to include children and even grandchildren from prior marriages, as well as adopted family members or same-sex couples....more

12/5/2016 - Beneficiary Designations Durable Power of Attorney Estate Planning Irrevocable Life Insurance Trusts Life Insurance Living Trust Marital Trusts Retirement Plan Wills

Insight on Estate Planning - Year End 2016

In This Issue: - 6 estate planning techniques for blended families - If it’s broken, fix it! Trusts that no longer achieve their objective can be repaired - Preparing for a new year: Take time now for a quick...more

12/2/2016 - Charitable Donations Estate Planning Stocks Trusts

Estate Planning Pitfall - You haven’t addressed pets in your estate plan

Pet owners in all 50 states can now make provisions for their animals through a trust. This “pet trust” allows owners to set aside funds for the animal’s care. After the pet dies, any remaining funds are distributed among...more

10/7/2016 - Grantors Pet Trusts Pets

Arrange your RMDs before year end

Per IRS rules, people must begin taking required minimum distributions (RMDs) from their retirement plans and IRAs beginning April 1 of the year after the year in which they turn age 70½. And they must continue taking RMDs...more

10/6/2016 - IRA IRS Penalties Required Minimum Distributions Retirement Plan

Should your powers of attorney be springing or nonspringing?

A power of attorney (POA) is an important component of an estate plan because it provides details for making critical financial and medical decisions if a person becomes incapacitated. This article defines a POA and explains...more

10/5/2016 - Estate Planning Financial Institutions Health Care Providers Power of Attorney

Gift giving made easy - Annual exclusion reduces your taxable estate

How can a person reduce the size of his or her taxable estate? There are many ways to accomplish this objective, including the use of irrevocable trusts and other sophisticated estate planning techniques. But one of the most...more

10/4/2016 - Estate Planning Estate Tax Gift Tax Irrevocable Trusts

Insight on Estate Planning - October/November 2016

Gift giving made easy - Annual exclusion reduces your taxable estate - How can you reduce the size of your taxable estate? There are many ways to accomplish this objective, including the use of irrevocable trusts...more

10/3/2016 - Beneficiaries Estate Planning Estate Tax Gift Tax IRA Penalties Pets Power of Attorney Required Minimum Distributions Tax Exemptions Trusts

Estate Planning Pitfall: You’re transferring your home to your children

Frequently, parents choose to transfer ownership of a home to their adult children to remove it from their taxable estates. There are many good reasons to do this, but the road is paved with tax potholes. This brief article...more

8/3/2016 - Estate Planning Estate Tax Gift Tax Grantor Trusts Real Estate Transfers Step-Up Basis

Making the most of your GST tax exemption

To share wealth with grandchildren, great-grandchildren or even more remote generations, special planning may be required to keep generation-skipping transfer (GST) taxes to a minimum. When it comes to GST tax planning, the...more

8/2/2016 - Estate Planning Estate Tax Generation-Skipping Transfer Gift-Tax Exemption Trusts

The write stuff: A letter of instructions

When drafting an estate plan, the centerpiece is a will or living trust. Such a document determines who gets what, where, when and how, as well as tying up the loose ends of an estate. A valid will or living trust can be...more

8/1/2016 - Estate Planning Living Trust Wills

Alternate valuation date Flexible postmortem planning a plus when markets are volatile

Many people may assume that filing a federal estate tax return is pretty cut-and-dried. The executor or professional representative completes the return, pays the requisite amount of tax, if any, and that’s the end of the...more

7/29/2016 - Asset Valuations Estate Planning Estate Tax

Insight on Estate Planning - August/September 2016

In This Issue: - Alternate valuation date: Flexible postmortem planning a plus when markets are volatile - The write stuff: A letter of instructions - Making the most of your GST tax exemption - Estate...more

7/28/2016 - Asset Valuations Beneficiaries Date of Valuation Estate Planning Estate Tax Generation-Skipping Transfer GST Real Estate Transfers Tax Exemptions Trusts Wills

Estate Planning Pitfall: You’re blindsided by tax on intrafamily loans

What’s worse than being taxed on income received? Having to pay tax on income never actually collected. That can happen if a family member borrows money from another loved one (an intrafamily loan) on an interest-free basis....more

6/9/2016 - Estate Planning Income Taxes Interest Rates Intra-Family Loans

Social Security loopholes close, but options remain open

The Bipartisan Budget Act of 2015 (BBA) closed two popular loopholes for future Social Security benefits. As a result, certain retirees may now realize less in the way of benefits during their lifetime and leave a smaller...more

6/8/2016 - Estate Planning Social Security Administration (SSA) Social Security Benefits

Should life insurance be a part of your estate plan?

Today, the federal gift and estate tax exemption stands at $5.45 million, so fewer families are facing estate tax liability. This begs the question: Can life insurance continue to play an important role in estate planning?...more

6/7/2016 - Charitable Remainder Trust Estate Planning Estate Tax Gift Tax Gift-Tax Exemption Life Insurance Long-Term Care Tax Exemptions

Portability is a thoroughly modern estate tax break

Computers and phones aren’t the only things that are portable today. The gift and estate tax exemption is also “portable” for married couples. Portability simplifies estate planning by allowing a surviving spouse to use the...more

6/6/2016 - Estate Planning Estate Tax Gift Tax Portability Surviving Spouse

Insight on Estate Planning -June/July 2016

Portability is a thoroughly modern estate tax break - Computers and phones aren’t the only things that are portable today. The gift and estate tax exemption is also “portable” for married couples. Portability simplifies...more

6/3/2016 - Estate Planning Estate Tax Intra-Family Loans Life Insurance Portability Social Security

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