Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.
Buying and Selling Businesses in Today's Economy, Stephen Opler
The 2010 Tax Relief Act and your estate plan
Are your estate planning documents protecting your assets?
The death or disability of a taxpayer who has failed to timely file a Report of Foreign Bank or Financial Account (FBAR) can present difficult problems for fiduciaries like trustees, estate executors and conservators. The...more
"IF YOU WILL®: Short Takes on Estates, Taxes and Trusts” is a quarterly glance through an informal lens at selected news items, court decisions, legislative changes and/or important issues pertinent to estate planning. It is...more
DIVIDING RETIREMENT ACCOUNTS - There are important differences associated with dividing retirement plans that are already in pay status and those that are not. Some people divorcing later in life are already retired,...more
The end of 2012 saw an unprecedented surge of activity for estate planning attorneys and advisors counseling clients to implement estate plans before the 2013 changes in the law, which would have reduced gift and estate tax...more
Overview - This article discusses the use of private placement products - private placement deferred variable annuities (PPVA) and private placement life insurance (PPLI)- in post mortem income tax and transfer tax...more
Estate planning may sound like something you don’t need to think about until you are approaching later stages of your life, or something only the top 1% need to take care of. This is a serious — and common — mistake....more
In This Issue: - Estate Planning for Families - The Benefits of Appointing a Standby Guardian - Meet Our Attorneys - Ronald A. Feuerstein - Excerpt from The Benefits of Appointing A Standby...more
Now is a great time to sell a business. Nearly 4,800 private equity firms are looking to invest $1 trillion in business acquisitions, and the loan market is returning to re-recession levels. ...more
When Congress resolved the fiscal cliff crisis early this year, it brought permanence to estate, gift and generation-skipping transfer tax laws that had been in flux for over a decade. In short, the American Taxpayer Relief...more
A common estate planning mistake is to designate a minor as beneficiary — or contingent beneficiary — of a life insurance policy or retirement plan. This brief article discusses why it’s better to designate one or more trusts...more
A trust is a versatile estate planning tool. But no matter how well it’s designed and drafted, a trust won’t reach its full potential unless all of the stakeholders — grantor, trustee and beneficiaries — understand the...more
A charitable remainder trust (CRT) allows a person to support a favorite charity while potentially boosting their cash flow, shrinking the size of their taxable estate, reducing or deferring income taxes, and enjoying...more
Long-term care (LTC) insurance is a major expense, especially for someone who purchases it at or after retirement age. One potential source for funding LTC insurance premiums is a total or partial tax-free exchange of an...more
If you are newly divorced, you’re probably overwhelmed with all of the changes going on in your life. Step back, take a deep breath, and develop a plan to secure your future....more
The scenario is not difficult to imagine: An employee designates her spouse as the primary beneficiary under her employer’s life insurance and retirement benefit plans. Years later, the couple divorces, and in the marital...more
Digital assets. It is a phrase that is currently trending among legal commentators and Canadians alike. Some argue that it is a critical topic for any estate plan. Others feel it has no place in an estate planning meeting. ...more
For most individuals - about 99.9% - estate taxes are no longer a concern thanks to the recent "fiscal cliff" legislation. However, that does not mean that estate planning is no longer necessary....more
The American Taxpayer Relief Act of 2012 (ATRA) was signed into law on January 2, 2013, ending twelve years of uncertainty concerning the federal estate, gift and generation-skipping tax rates and exemptions....more
You have a will in place. You think that you have fully protected your family when you die. You may be surprised to discover exactly how many things wills can’t do. While wills are useful and inexpensive legal documents for...more
Overview - High net worth and income taxpayers find themselves in a world of hurt following tax reform at the end of 2012. The top marginal bracket for taxpayers with more than $400,000 (single and $450,000 married)...more
In litigious California, sheltering assets from the risks of business, from ownership of real estate, and from ordinary living, should be considered with both business and personal estate planning. Professionals often advise...more
Now is the time to consider intra-family loans - This is an excellent time for wealthy, senior family members to consider the use of loans to other family members as legitimate wealth transfer tools and for other...more
You don’t need a lawyer for everything, but there are a few times in life when hiring a lawyer is a necessity....more
The 2012 Tax Relief Act provides an exemption from federal estate tax of $5,250,000 inflation indexed per spouse that is portable between spouses. If the first spouse to die does not use in whole or in part her or his...more
When most people think of estate planning, they think of drafting a will or trust to say what happens to property after death. Arguably more important is what happens when you are alive but unable to make decisions following...more
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