News & Analysis as of September 19, 2024

Estate Planning › Annuities

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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. less -

Legal-Ease: Steps for When a Loved One Passes Away - Part Two

Foster Swift Collins & Smith on 6/14/2024

This is the second of three articles addressing the topic of what needs to be done when a spouse or loved one passes away. My last article addressed the immediate things that need to be done prior to the decedent’s funeral...more

What the SECURE 2.0 Act Means for Your Retirement Savings

Kohrman Jackson & Krantz LLP on 1/18/2023

At the very end of 2022, President Biden signed the $1.7 trillion omnibus spending package which includes the SECURE 2.0 Act. SECURE 2.0 builds on The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019...more

Is a Split Annuity Strategy Right for You?

Adler Pollock & Sheehan P.C. on 11/28/2022

The average length of retirement is 18 years, according to the U.S. Census Bureau. And with today’s medical technology, it could last significantly longer. Thus, a major challenge is balancing the need to maintain your...more

Companies Should Know When Their Customers Die: Court Rendered Judgment For An Estate Who Was Sued By An Annuity Company For...

Winstead PC on 6/22/2020

In In re Estate of Scott, an annuity company sued a customer’s estate for not reporting the death of his wife, which resulted in him receiving larger monthly payments after her death than he was entitled to under the...more

Investment Management Roundtable Discussion – Personal Estate Planning

Troutman Pepper on 1/9/2020

Gregory J. Nowak, a partner and practice leader for hedge funds in Pepper Hamilton’s Private Fund Services Practice Group, hosts a series of candid, interactive webinar discussions for West LegalEdcenter on what is going on...more

Wealth Management Update - August 2019

Proskauer Rose LLP on 8/12/2019

August 2019 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs - Important federal interest rates continued to drop for August 2019. The August...more

Kiddie Tax Changes May Increase Burden for Families with SNTs

Chambliss, Bahner & Stophel, P.C. on 3/13/2019

Major changes to the “kiddie tax” could significantly increase the tax liability of assets placed in special needs trusts if the trust’s beneficiary is a minor and the income the trust earns is high enough. Congress...more

Are Annuities And Life Insurance Policies Exempt From The Claims Of Creditors In Florida?

Cole Schotz on 1/28/2019

Annuities are a common tool for investment, financial and estate planning and asset protection. An annuity is simply a contract between a person and an insurance company in which the person makes a lump sum payment to the...more

Estate Planning Pitfall: You haven’t properly funded your revocable living trust

Adler Pollock & Sheehan P.C. on 10/5/2018

A revocable living trust is often used to complement a will. Assets transferred to the trust generally don’t have to go through the probate process, which can be time-consuming and expensive. They’re also generally protected...more

What’s the best option for a pension plan payout?

Adler Pollock & Sheehan P.C. on 4/4/2017

Typically, estate planning and retirement planning go hand in hand. Why? The more wealth a person is able to set aside for retirement — and the better job he or she does managing retirement funds — the more that will be left...more

Grantor Retained Annuity Trusts (GRATs) and Sales to Grantor Trusts

McGuireWoods LLP on 3/15/2016

I. Introduction - A grantor retained annuity trust (GRAT) or an installment sale to a grantor trust can be useful in transmitting wealth in a tax-efficient way, and often one of these techniques is superior to other...more

Grantor Retained Annuity Trusts: An Estate Planning Strategy

Bradley Arant Boult Cummings LLP on 6/17/2015

In the current economic environment, IRS-prescribed monthly interest rates for certain intra-family transactions are at historic lows. As a result, an excellent opportunity exists to transfer wealth to lower generation family...more

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

Adler Pollock & Sheehan P.C. on 6/12/2015

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

RMD Rules for Longevity Annuities Finalized

Eversheds Sutherland (US) LLP on 7/3/2014

Longevity annuities are contracts that provide life annuity payments typically commencing at age 80 or 85; in many (but not all) cases, that is the only benefit the contract provides. As such, these contracts may offer...more

Wealth Management Update - December 2013

Proskauer Rose LLP on 12/13/2013

The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 2.0%, which is unchanged from last month. The December applicable federal rate ("AFR") for use with a sale to a defective...more

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Estate Planning › Annuities

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