Farm Credit Services Southwest
|
|
- Berenice Lane
- 5 years ago
- Views:
Transcription
1 Farm Credit Services Southwest Risk Management Webinar #4 Transition & Estate Planning, Life Insurance Ken Lassen, Senior Vice President Agri-Business Financial Services August 24, 2011
2 Agenda Estate Planning What is Estate Planning What is Estate Tax Case Study- Plan versus No Plan Life Insurance Common Uses for Ag Families Types of Policies Matching Uses and Types
3 Estate Planning
4 Why Estate Planning? To transfer the right assets to the right people within the family, farmers and nonfarmers. To avoid a lengthy and costly probate process. Manage estate taxation.
5 What is Estate Tax? When both spouses of a first generation family have died and assets are passed on to the next generation(s), those assets are subject to estate taxation if the estate value exceeds exemption amounts.
6 Current Tax Regulation Individual Exemption Estate Tax Ceiling 2002 $1 million 50% 2003 $1 million 49% 2004 $1.5 million 48% 2005 $1.5 million 47% 2006 $2 million 46% 2007 $2 million 45% 2008 $2 million 45% 2009 $3.5 million 45% 2010 Taxes repealed (revision approved Dec. 2010) 2011 and ??? $5 million 35%
7 Hypothetical Case Study Farming family with three adult children 2013 arrived with no permanent regulation passed by Congress Regs revert back to a $1 million personal exemption and a 50% highest marginal rate Estate valued at $4 million
8 The Family John Farmer Mary Farmer $4,000,000 Estate Billy Bob Betty
9 The Scenario Dad passes away in 2013 Mom passes away in 2014 Billy, Bob and Betty meet with family attorney and CPA to settle the estate.
10 Discussion Points at Meeting Probate fees and timeframe Reading of the Wills and discussion of disposition of assets. Estate tax return and estimate tax that will be due in 9 months. Options for liquidation of assets to pay taxes.
11 CPA s Estate Tax Computation Estate value at second death $ 4,000,000 Less Mom's individual exclusion (No Portability in new regs) $ 1,000,000 Taxable Estate $ 3,000,000 Estate Tax Due in 9 months (est.) $ 1,410,000 Legal and Accounting fees???
12 Where will we get the cash? Farm Land and Equipment $ 2,750,000 Personal Residence $ 400,000 Vacation Home $ 250,000 Cash and Investments $ 600,000 $ 4,000,000
13 Probable Result (after much argument and added legal and accounting fees) All assets are liquidated $1,410,000 is paid to IRS Each Heir receives around $835,000 Possible long term relationship damage within and among families.
14 Same Scenario but with better planning Mom and Dad set up an estate plan with a Revocable Living Trust and testamentary sub trust to preserve exclusions. They also construct the dispositive section of the trust to direct agricultural assets to their two sons and non-ag assets to their daughter, while still maintaining an equitable split. Parents create an Irrevocable Life Insurance Trust (ILIT) and fund it with a Survivors Life policy to create cash in the trust upon the second death (not included in the estate for taxation).
15 CPA s Estate Tax Computation (revised with planning) Estate value at second death $ 4,000,000 Less both parent's individual exclusions $ 2,000,000 Taxable Estate $ 2,000,000 Estate Tax Due in 9 months (est.) 940,000
16 Where will we get the cash? Farm Land and Equipment $ 2,750,000 Personal Residence $ 400,000 Vacation Home $ 250,000 Cash and Investments $ 600,000 $ 4,000,000 Life Insurance held in Trust (ILIT) $ 1,000,000
17 Probable Result after much less argument No Probate required for Trusts $1,000,000 is available outside the estate to pay a much reduced estate tax of $940,000. Billy and Bob get all the farmland and equipment. Betty get the homes, cash and investments. Each heir gets an inheritance over $1.3 million (about $500,000 more than scenario without planning) Each heir gets the type asset they wanted to have.
18 Is estate planning worth the time and expense to do it? YES!
19 Conclusion Remember: our case study was based on a default back to 2001 regs. That has not happened yet. You should be concerned about this issue, but not panic. Every family should have an estate plan regardless of estate size. Keep an eye on future estate tax regulatory changes between now and December 2012.
20 Life Insurance Common Uses for Ag Families Types of Policies Matching Uses and Types
21 Common Uses for Ag Families Payoff Business Debt Family Support Fund Buy-Sell Agreements (Joint Owners) Estate Planning-Tax Management
22 Types of Life Policies Term Life (temporary) Universal Life (permanent) Variable Universal Life (permanent)
23 Matching Uses and Types When your need will change in future years When your need will probably not change
24 The Process Preliminary quote versus post application offer Application process Insurer offer and first premium Life Insurance policy reviews (1035 xchg)
25 Questions? Next Webinar September 21, 2011 Crop Insurance Hedging Marketing Plans
Estate Planning. Farm Credit East, ACA Stephen Makarevich
Estate Planning Farm Credit East, ACA Stephen Makarevich Farm Business Consultant 9 County Road 618 Lebanon, NJ 08833 1.800.787.3276 stephen.makarevich@farmcrediteast.com 1 What is Estate Planning? 2 Estate
More informationKnowledge Exchange Report
Farm Credit East October 2012 Knowledge Exchange Report The Federal Estate Tax Effect on the Farming Community Everyone will die at some point. Whether their estate is subject to the Federal Estate Tax
More informationSpecialty Estate Tax Seminar for Farm Families Paul Neiffer, CPA CliftonLarsonAllen, LLP
2013 CliftonLarsonAllen LLP 2013 CliftonLarsonAllen LLP CLAconnect.com Specialty Estate Tax Seminar for Farm Families Paul Neiffer, CPA CliftonLarsonAllen, LLP Speaker Introduction Paul Neiffer, Principal,
More informationESTATE EVALUATION. John and Jane Doe
ESTATE EVALUATION John and Jane Doe Adam Advisor Investment Advisors 265 Anystreet Suite 123 AnyCity, AnyState, AnyZip (555) 555-5555 adam@investmentadvisors.inv Important Notes Estate Evaluation is a
More informationD'Amico Family Wealth Management Group Of RBC Dominion Securities
D'Amico Family Wealth Management Group Of RBC Dominion Securities Presents David Altro from Altro Levy, Lawyers "Cross Border Tax & Estate Planning for Canadians with U.S. Real Estate" Angelo D Amico FCSI,
More informationHelping You Avoid IRA Distribution Mistakes
Helping You Avoid IRA Distribution Mistakes Provided to you by: Yvette Scanlon President & Financial Advisor 888-551-2133 Helping You Avoid IRA Distribution Mistakes Written by Financial Educators Provided
More informationJohn J. Schwarz, II. Practice Areas Agricultural Law, Estate Planning, Real Estate Law, Municipal Law, Family Law, Contract Law, Employment Law
Occupation Attorney, Simmons-Brown & Cress, PC. Angola, IN Farmer, Schwarz Family Farms, Stroh, IN John J. Schwarz, II Education Prairie Heights High School Tri-State University Indiana University School
More informationIRREVOCABLE LIFE INSURANCE TRUSTS FOR ESTATE AND TAX PLANNING (Estate Planning Advisory No. 1)
IRREVOCABLE LIFE INSURANCE TRUSTS FOR ESTATE AND TAX PLANNING (Estate Planning Advisory No. 1) This Advisory discusses the general estate planning and asset protection benefits of an irrevocable life insurance
More informationEstate Planning Strategies for the Business Owner
National Life Group is a trade name of of National Life Insurance Company, Montpelier, VT and its affiliates. TC74345(0613)1 Estate Planning Strategies for the Business Owner Presented by: Connie Dello
More informationWomen Transitioning the Farm: Empowering Women to Achieve Financial, Family, and Personal Goals
Women Transitioning the Farm: Empowering Women to Achieve Financial, Family, and Personal Goals Women, Ag and Food Network Annual Conference Nebraska City, Nebraska November 5, 2016 Presenters: Amy Swoboda,
More informationSlide 1. Slide 2. Slide VADA Family Convention FPA NCA Greenbrier September 7, Financial Objectives
Slide 1 2013 VADA Family Convention FPA NCA Greenbrier September 7, 2016 By: John P. Dedon 1775 Wiehle Avenue, Suite 400 Reston, Virginia 20190 (703) 218-2131 John.Dedon@ofplaw.com Slide 2 Financial Objectives
More informationESTATE PLANNING. Estate Planning
ESTATE PLANNING Estate Planning 2 Why do you need estate planning? Estate planning is a way for your family to create a plan in case something happens to you. It may help you take care of both the financial
More informationUpon Death. Military Papers
SETTLING THE ESTATE The term settling the estate refers to the period immediately after the death of one or both spouses. Settling an estate in a Living Trust is generally very easy. If all of the assets
More informationEstate Planning What Do We Need to Know Now? Stacy Hambelton Agriculture Business Specialist Gainesville, MO
Estate Planning What Do We Need to Know Now? Stacy Hambelton Agriculture Business Specialist Gainesville, MO Retirement and Estate Planning Issues Men (farmers in particular) don t plan for their retirement
More informationOne goal of estate planning is
Gifting: A Property Transfer Tool of Estate Planning by Marsha A. Goetting, PhD, CFP, CFCS, Professor and Extension Family Economics Specialist, Montana State University-Bozeman MT199105 HR 10/2002 This
More informationDeath and Taxes It s Never Too Early To Plan. Franklin H. Famme, CPA, CA
Death and Taxes It s Never Too Early To Plan Franklin H. Famme, CPA, CA Benjamin Franklin Agenda Understanding Estates Taxes Upon Death Probate Income Tax Taxes After Death Understanding Estates Jointly-Held
More informationCreative Estate Planning for Clients Under $10 Million
Creative Estate Planning for Clients Under $10 Million Presented by Missia H. Vaselaney Taft Partner October, 2017 Created by Jeremiah W. Doyle, IV, Senior Vice President, BYN Mellon Wealth Management
More informationBeat the estate tax blow: with deferred annuities and an irrevocable trust
Beat the estate tax blow: with deferred annuities and an irrevocable trust JAN 01, 2012 BY The hinge around which estate planning revolves is gifting. The future growth in value of the asset from the date
More informationESTATE AND GIFT TAXATION
H Chapter Fourteen H ESTATE AND GIFT TAXATION INTRODUCTION AND STUDY OBJECTIVES Estate taxes are imposed on transfers of property by decedents, and gift taxes are imposed on the transfers by living individual
More informationImportant Notes. Version c May 9, of 57. Presented by: Joseph Davis, CLU, ChFC For Evaluation Purposes Only
Ed and Tina Allen Presented by: Joseph Davis, CLU, ChFC 215 Broad Street Charlotte, North Carolina 26292 Phone: 704-927-5555 Mobile Phone: 704-549-5555 Fax: 704-549-6666 Email: joseph.davis@aol.com Financial
More informationLife insurance beneficiary designations
ADVANCED MARKETS Life insurance beneficiary designations BECAUSE YOU ASKED When designating a beneficiary of a life insurance policy, the policy owner should consider a multitude of factors, such as the
More informationGETTING THE MOST OUT OF YOUR LIFE INSURANCE
GETTING THE MOST OUT OF YOUR LIFE INSURANCE The Irrevocable Life Insurance Trust AMERICAN ACADEMY OF ESTATE PLANNING ATTORNEYS, INC. Getting The Most Out Of Your Life Insurance 1 If you own life insurance,
More informationThe Need for an Estate Liquidity Review. Estate Liquidity Review Producer Guide. For agent use only. Not for public distribution.
The Need for an Estate Liquidity Review Estate Liquidity Review Producer Guide Estate Liquidity Review The Need for an Estate Liquidity Review Death triggers a long list of costs that must be paid from
More informationEstate Planning with Individual Retirement Accounts
Estate Planning with Individual Retirement Accounts INTRODUCTION Proper estate planning ensures that there is a legacy left behind after you have passed away. It ensures that your affairs will be managed
More informationTrust & Fiduciary Services. Guided by the Strength & Values of America s Credit Unions
Trust & Fiduciary Services Guided by the Strength & Values of America s Credit Unions Growth MEMBERS Trust Company Since 1987 MEMBERS Trust Company has provided trust and investment services to credit
More informationRecreational Residence Trust Package
Recreational Residence Trust Package Fees: $6,000 Documents: 1. Recreational Residence Trust, with related documents, as required: If registered in the Land Title Office: Form A Transfer Property Transfer
More informationWealth Transfer Planning Opportunities
ADVANCED MARKETS BEYOND TAX REFORM Wealth Transfer Planning Opportunities BECAUSE YOU ASKED As part of the Tax Cuts and Jobs Act of 2017, the estate tax, gift, and GST exemptions have been increased from
More informationCharitable remainder trusts and life insurance
Life insurance Allianz Life Insurance Company of North America Charitable remainder trusts and life insurance (R-3/2018) Estate planning with highly appreciated assets When designed properly, a trust can
More informationTAX & TRANSACTIONS BULLETIN
Volume 25 U.S. Families have accumulated significant wealth in their IRA accounts Family goals are to preserve this IRA wealth Specific Family goals for IRAs include: keep assets within the Family protect
More informationPROBATE INFORMATION SHEET
PROBATE INFORMATION SHEET WHEN YOU HAVE COMPLETED THIS FORM, please bring it to your next scheduled meeting along with a certified copy of the decedent's death certificate. Please be sure to provide information
More informationTHE IRA INHERITANCE TRUST The Way To Stretch Out And Protect Your IRA Funds
SPECIAL REPORT #3 THE IRA INHERITANCE TRUST The Way To Stretch Out And Protect Your IRA Funds KISELSTEIN FRANCKOWIAK LAW GROUP Estate Planning Attorneys 930 East Northwest Highway Mount Prospect, Illinois
More informationCHAPTER 8 Trusts DISCUSSION QUESTIONS
CHAPTER 8 Trusts DISCUSSION QUESTIONS 1. Why are trusts used in estate planning? Trusts are used in estate planning to provide for the management of assets and flexibility in the operation of the estate
More informationBryan Health March 27, 2014 Wills, Trusts and Fiduciary Administration (and Other Life and Death Issues)
CLINE WILLIAMS WRIGHT JOHNSON & OLDFATHER, L.L.P. ATTORNEYS AT LAW ESTABLISHED 1857 Bryan Health March 27, 2014 Wills, Trusts and Fiduciary Administration (and Other Life and Death Issues) Presented by:
More informationYOUR GUIDE TO Beneficiary Designations
YOUR GUIDE TO Beneficiary Designations 60 Empire Drive Suite 300 St. Paul, MN 55103 Telephone: 651-296-2761 Toll-free: 1-800-657-5757 www.msrs.state.mn.us INTRODUCTION Introduction Beneficiary designations
More informationPreserving Family Wealth with an Estate Freeze. cn ING North America Insurance Corporation
Walton GRAT: Preserving Family Wealth with an Estate Freeze Thanks for sharing your time with me today. I d like to tell you about a powerful and flexible estate planning idea. This strategy is called
More informationFederal Estate, Gift and GST Taxes
Federal Estate, Gift and GST Taxes 2018 Estate Law Institute November 2, 2018 Bradley D. Terebelo, Esquire Peter E. Moshang, Esquire Heckscher, Teillon, Terrill & Sager, P.C. 100 Four Falls, Suite 300
More informationEstate Planning Seminar Creating Certainty - 18 th August 2014 Presented by:
Estate Planning Seminar Creating Certainty - 18 th August 2014 Presented by: Tony Gilham Founding Partner Certified Financial Planner SMSF Specialist Advisor www.gfmwealth.com.au Andrew Lord Director Lawyer
More informationEstate & Charitable Planning After the Tax Cuts & Jobs Act of 2017
Estate & Charitable Planning After the Tax Cuts & Jobs Act of 2017 by Forest J. Dorkowski, J.D., LL.M. Tual Graves Dorkowski, PLLC Sponsored by St. Jude Children s Research Hospital 2018 ALSAC/St. Jude
More informationEstate Planning in 2014 and Beyond
Estate Planning in 2014 and Beyond MACPA 10.24.2014 Michael E. Kitces MSFS, MTAX, CFP, CLU, ChFC, RHU, REBC, CASL Partner. Director of Research, Pinnacle Advisory Group Publisher. The Kitces Report, www.kitces.com
More informationLiving Trusts to Avoid Probate. POAs. Asset Protection. HIPAAs. Health Care Directives. Divorce & Asset. Family Limited Partnerships
Asset Protection Planning Strategies Grantor Retained Annuity Section 1035 Rescues Prenuptial Planning Gift for Children BERT! The Wonder Trust Wyoming Close LLCs Sales to IDOTs Gift for Grandchildren
More informationImpact of the Tax Cuts and Jobs Act of 2017 on Estate Planning
Impact of the Tax Cuts and Jobs Act of 2017 on Estate Planning Where Were We vs. Where Are We Now 2017 2018 (Pre-Act) 2018 (Post-Act) Transfer Tax Rate 40% 40% 40% Estate/Gift Tax Exemption $5.49 million
More informationEXPERIENCE to protect those you love. COMPASSION to understand what is important to you. PERMANENCE to be there when you need it most
EXPERIENCE to protect those you love COMPASSION to understand what is important to you PERMANENCE to be there when you need it most ESTATE PLANNING 101 Basic Training for the Sandwich Generation Presented
More informationEstate Freezing Techniques. For Producer or Broker/Dealer Use Only. Not for Public Distribution.
Estate Freezing Techniques Agenda Identify Potential Clients Qualified Personal Residence Trust (QPRT) Grantor Retained Annuity Trust (GRAT) Installment Sale to an Intentionally Defective Irrevocable Trust
More informationIntroduction to Estate and Gift Taxes
Department of the Treasury Internal Revenue Service Publication 950 (Rev. August 2007) Cat. No. 14447X Introduction to Estate and Gift Taxes Get forms and other information faster and easier by: Internet
More informationAfognak Native Corporation 3909 Arctic Blvd. Ste. 500 Anchorage, AK 99503
Afognak Native Corporation 3909 Arctic Blvd. Ste. 500 Anchorage, AK 99503 Toll Free: 888-292-9580 / Phone (907) 222-9500 Fax: (907) 222-9501 Dear Shareholder: Afognak Native Corporation ( ANC ) encourages
More informationWhat is a disclaimer? A disclaimer is an irrevocable statement that the beneficiary/recipient of an asset does not wish to receive the asset.
What is a disclaimer? A disclaimer is an irrevocable statement that the beneficiary/recipient of an asset does not wish to receive the asset. The disclaimed asset passes as if the disclaimant had predeceased
More informationDemystifying Estate Planning To Grow Your Practice
Demystifying Estate Planning To Grow Your Practice Presented by: Brett W. Berg Vice President Advanced Markets Prudential Individual Life Insurance Division 0275422-00003-00 Ed. 02/2016 Exp. 08/17/2017
More informationAnnuity Strategies. Robert Smith. Mary Smith. for. and
Strategies for Robert Smith and Mary Smith Presented by: John Q. Advisor, CLU, ChFC 0735 David Taylor Drive Suite 350 Charlotte, North Carolina 86 Phone: -800-438-607 Mobile Phone: (704) 549-00 Fax: (704)
More informationIntroduction to Estate and Gift Taxes
Department of the Treasury Internal Revenue Service Publication 950 (Rev. June 1998) Cat. No. 14447X Introduction to Estate and Gift Taxes Introduction If you give someone money or property during your
More informationBeth Polner Abrahams, Esq.
Beth Polner Abrahams, Esq. Medicaid Asset Protection Trust (The Irrevocable Income Only Trust) NYSBA Intermediate Elder Law Update 12/2/14 Medicaid Asset Protection: Irrevocable Income Only Trust Irrevocable
More informationMagical Mystery Tour: Naming a Special Needs Trust as Beneficiary of a Retirement Plan
Magical Mystery Tour: Naming a Special Needs Trust as Beneficiary of a Retirement Plan Presenter: Dennis M. Sandoval Stetson 2017 Special Needs Trust National Conference St. Petersburg, Florida 2010-2017
More informationDTN University Pass It On! Farm Family Estate and Succession Planning
DTN University Pass It On! Farm Family Estate and Succession Planning Marcia Zarley Taylor, DTN Executive Editor Andy Biebl, CPA, Tax Partner, CliftonLarsonAllen LLC Nick Houle, CPA, Tax Partner, CliftonLarsonAllen
More informationThis booklet illustrates how having a
This booklet illustrates how having a thoughtful, well-planned will can help your family and the organizations you care about, through careful selection of bequests and use of strategies that will reduce
More informationEstate and Gift Tax Changes in the Federal Tax Reform Act of 1976
SM /S-/^/? $ Estate and Gift Tax Changes in the Federal Tax Reform Act of 1976 Extension Circular 957 September 1978 Oregon State University Extension Service The Tax Reform Act of 1976 contains the most
More informationNon-Citizen Spouse. Estate Planning Using Qualified Domestic Trusts (QDOTs) and Irrevocable Life Insurance Trusts (ILITs)
Guiding you through life. SALES STRATEGY NEEDS ANALYSIS Non-Citizen Spouse Estate Planning Using Qualified Domestic Trusts (QDOTs) and Irrevocable Life Insurance Trusts (ILITs) As large numbers of people
More informationCHAPTER 14: ESTATE PLANNING
CHAPTER 14: ESTATE PLANNING MATCHING a. marital deduction b. charitable remainder c. gift splitting d. present interest e. legal life estate f. stepped-up basis g. general power of appointment h. term
More informationPlanning for Successful Operations and Succession
Planning for Successful Operations and Succession Brenik Iverson, C.P.A. Odessa, Washington (509) 982-2922 www.leffelotiswarwick.com Planning for Successful Operations and Succession Operating Budget Tax
More informationCurrent Income Tax Issues for Agriculture
Current Income Tax Issues for Agriculture Presented by Vern H. Peters, CPA, CA Tax Partner (2016/01/26) Current Income Tax Issues > Incorporation > Succession > Exit 1 Incorporation Incorporation > In
More informationCHARITABLE PLANNING WITH RETIREMENT ACCOUNTS: STRATEGIES, TRAPS AND SOLUTIONS PRESENTER: CHRISTOPHER R. HOYT
CHARITABLE PLANNING WITH RETIREMENT ACCOUNTS: STRATEGIES, TRAPS AND SOLUTIONS PRESENTER: CHRISTOPHER R. HOYT University of Missouri (Kansas City) School of Law Presenter Teaches courses in the areas of
More informationExtending Retirement Assets: A Stretch IRA Review
Extending Retirement Assets: A Stretch IRA Review Are you interested in the possibility of using the funds in your traditional IRA to provide income to one or more generations of family members? Table
More informationIt s All About the Business
It s All About the Business Planning Strategies Integrated with Life Insurance to Help a Business Owner Accomplish Goals for Retirement, Business Perpetuation, Successful Business Transition, and Estate
More informationTrusts An introduction
Trusts An introduction Trusts can be highly effective wealth management vehicles, especially for income splitting, tax and estate planning purposes and wealth protection. A trust is an arrangement whereby
More informationPOPULAR MISCONCEPTIONS ABOUT ESTATE PLANNING. By Lisa Pepicelli Youngs, Esq.
POPULAR MISCONCEPTIONS ABOUT ESTATE PLANNING 1. Only wealthy people need Wills. By Lisa Pepicelli Youngs, Esq. FALSE. Every person should have a Will regardless of the value of assets. A Will serves many
More informationEstate Planning and Recent Developments. Ashley Newhall Mid-Atlantic Women in Agriculture August 27, 2014
Estate Planning and Recent Developments Ashley Newhall Mid-Atlantic Women in Agriculture August 27, 2014 Disclaimer This presentation is intended to provide general information about estate planning and
More informationBECOME THE KEY TO YOUR CLIENTS WEALTH PRESERVATION
COVER STORY BECOME THE KEY TO YOUR CLIENTS WEALTH PRESERVATION HOW TO USE LPL S HELP TO LEAVE NO OPPORTUNITY BEHIND PLAN 32 LPL Magazine Winter 2016 Only 18% of affluent investors are receiving estate
More informationESTATE PLANNING 101:
Introduction ESTATE PLANNING 101: THE IMPORTANCE OF DEVELOPING AN ESTATE PLAN At some point, most people will contemplate estate planning. Often, this is prior to or shortly after a significant life event,
More informationA guide to FARM ESTATE PLANNING. in Manitoba
A guide to FARM ESTATE PLANNING in Manitoba A Guide to Farm Estate Planning in Manitoba The surest way to reach a business goal is to plan on it. Successful Manitoba farmers are focused business people.
More informationVanguard Financial Education Series ESTate planning. How to create an estate plan that will help your family
Vanguard Financial Education Series ESTate planning How to create an estate plan that will help your family People don t like to think about their own demise. Perhaps that s why most Americans lack a will.
More informationEstate Planning. Insight on. Tax Relief act provides temporary certainty for your estate plan
Insight on Estate Planning February/March 2011 Tax Relief act provides temporary certainty for your estate plan 3 postmortem strategies that add flexibility to your estate plan Can a SCIN allow you to
More informationBeyond Death and Taxes: Planning for the Future
Beyond Death and Taxes: Planning for the Future Michelle Yu, Esq. Website: www.wealthtransfer-law.com law.com Telephone: 415.409.8529 www.wealthtransfer-law.com law.com Tel: 415.409.8529 1 Disclaimer Materials
More informationDear Shareholder: Please take notice, that ANC discloses to all beneficiaries the final share transfers through inheritance.
Kodiak Office 300 Alimaq Drive Kodiak, AK 99615 (907) 486-6014 800-770-6014 Fax: (907) 486-2514 shareholderservices@afognak.com Dear Shareholder: Afognak Native Corporation ( ANC ) encourages all shareholders
More informationWorkplace Education Series
Preserving Your Savings for Future Generations (Estate Planning) Kelly Quinlan Regional Vice President, Estate Planning March 1, 2018 So, you would like to leave behind a legacy Your questions at this
More informationBypass Trust (also called B Trust or Credit Shelter Trust)
Vertex Wealth Management, LLC Michael J. Aluotto, CRPC President Private Wealth Manager 1325 Franklin Ave., Ste. 335 Garden City, NY 11530 516-294-8200 mjaluotto@1stallied.com Bypass Trust (also called
More informationAgribusiness Farm Tax Seminar
Agribusiness Farm Tax Seminar Specialty Estate Tax Seminar for Farm Families Nicholas Houle, CPA, MBT Christopher Hesse, CPA December 17, 2013 CLAconnect.com Disclaimers To ensure compliance imposed by
More informationCHAPTER 12 Special Elections & Post Mortem Planning
CHAPTER 12 Special Elections & Post Mortem Planning DISCUSSION QUESTIONS 1. Why is it important for an estate to have cash? An estate must cover the taxes, administrative expenses, last medical costs,
More informationChanging Federal Tax Policies Affect Farm Households Differently
Changing Federal Tax Policies Affect Farm Households Differently Significant changes in Federal individual income tax and estate and gift tax policies have occurred over the last few years. Since the Federal
More informationIntentionally Defective (?) Grantor Trusts
Intentionally Defective (?) Grantor Trusts Owen@GivnerKaye.com 1 What We Will Cover [Part 1]: 1. How Did The Grantor Trust Rules Originate? P. 3 2. Common Examples of Grantor Trusts. P. 4 3. What Do We
More information2018 National Conference on Special Needs Planning and Special Needs Trusts Magical Mystery Tour: Secrets to Naming a Special Needs Trust as Beneficiary of an IRA Dennis M. Sandoval October 17, 2018 Dennis
More informationIncrease IRA Rollovers
Increase IRA Rollovers Exit Strategies for Retirement Plan Assets Dru Donatelli, JD-MBA, ChFC,, CLU Advanced Planning Attorney Assistant Vice President Field Director, Special Markets Tax Landscape - Estate
More information+ = $40 Trillion + 2/3 No Will = Litigation. Pictures: commondreams.com, cjdlawgroup.com, e- crimebureau.com
+ = $40 Trillion + 2/3 No Will = Litigation Pictures: commondreams.com, cjdlawgroup.com, e- crimebureau.com Introduction to Estate Planning Rebecca Renzas, Esq. Naomita Yadav, Esq. Today s Talk Estate
More informationSection 11 Probate Glossary
Section 11 Probate Glossary 2012 Investors Empowerment Academy, LLC 119 Abatement A proportional diminution or reduction of the pecuniary legacies, when there are not sufficient funds to pay them in full.
More informationStrategic Planning for Life and Death
Claude B. Bass, J.D. Advanced Planning Consultant - Architect Telephone (678) 580-2400 Claude_Bass@Comcast.Net Strategic Planning for Life and Death Rule Number One Beware the Short Form Estate Plan If
More informationSample Plan For Illustrative Purposes Only
Your Retirement Plan RETIREMENT ANALYSIS This section of the plan provides an illustration of your retirement situation based on the Surplus Cash Flow Assumption discussed on page 13 and the various recommended
More informationA Multigenerational Approach to Maximizing Your 403(b) Plan Sam Stratford and Sue Stratford
A Multigenerational Approach to Maximizing Your (b) Plan Sam Stratford and Sue Stratford Presented by: Joseph Davis, CLU, ChFC 5 Broad Street Charlotte, North Carolina Phone: 7-97-5555 Mobile Phone: 7-59-5555
More informationUpstream estate planning By Marvin E. Blum, JD, CPA
Taxation - Income, Estate, and Gift Upstream estate planning By Marvin E. Blum, JD, CPA Within the realm of estate planning, there is a tendency to craft estate plans with a downstream focus. Generally,
More informationIntroduction to the Federal Income Tax Issues of Filing Form 1041 for Estates and Trusts
National Society of Tax Professionals presents Introduction to the Federal Income Tax Issues of Filing Form 1041 for Estates and Trusts Developed and Written by Paul La Monaca, CPA, MST NSTP Director of
More informationQ&A Advanced Markets Edition. Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York
Q&A Advanced Markets 2017 Edition Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York P AMK-118-N Page 1 of 76 When business matters leave the realm of the ordinary,
More informationWhat to do when a loved one dies: Guide to Estate Settlement
What to do when a loved one dies: Guide to Estate Settlement The process of administering a loved one s estate can be a confusing task that must be undertaken during a particularly stressful time. Therefore,
More informationGettechnical Inc. Gettechnical Inc.
Gettechnical Inc. The material used in this text has been drawn from sources believed to be reliable. Every effort has been made to assure the accuracy of the material; however, the accuracy of this information
More informationRevocable Trust Vs. Irrevocable Trust
I am not an attorney but here to help you undertand what things are... Speak to An Asset protection Attorney and find the best solution for you... Revocable Trust Vs. Irrevocable Trust Trusts are relatively
More informationTrusts and Other Planning Tools
Trusts and Other Planning Tools Today, We Will Discuss: Estate planning fundamentals Wills and probate Taxes Trusts Life insurance Alternate decision makers How we can help Preliminary Considerations Ask
More informationFederal Income Tax Concepts Needed to Prepare Fiduciary Form 1041 and the Final Form 1040 of the Decedent
Michigan Society of Enrolled Agents MiSEA presents Federal Income Tax Concepts Needed to Prepare Fiduciary Form 1041 and the Final Form 1040 of the Decedent at the Bavarian Inn Lodge and Conference Center
More informationTo receive a printable version of this PDF, please contact our firm.
Family Limited Liability Companies (FLLCs); Family Limited Partnerships (FLPs) and Limited Liability Companies (LLCs) Lower Estate Taxes by Using FLLCs, FLPs and LLCs It is absolutely amazing how few clients
More informationThe Changed Landscape: The Impact of New Tax Rules on Trusts and on Estate Donations September 17, 2015
The Changed Landscape: The Impact of New Tax Rules on Trusts and on Estate Donations September 17, 2015 Richard Niedermayer, TEP Stewart McKelvey Halifax John Roy, FCPA, FCA Grant Thornton LLP Halifax
More informationESTATE PLANNING BASICS
ESTATE PLANNING BASICS Agricultural Law Project, Legal Aid of Nebraska and the Risk Management Agency, USDA Prepared by: Joe M. Hawbaker, Hawbaker Law Office, Omaha, Nebraska and Dave Goeller, University
More informationEstate Planning.
RELATED PRACTICE AREAS Adoptions Business Transition Planning Estate and Trust Administration Estate Mediation and Alternate Dispute Resolution Guardianships Insurance Trusts Marital Agreements Medicaid/Medicare
More informationLife Insurance Considerations for Legal and Tax Professionals
Life Insurance Considerations for Legal and Tax Professionals CPAs Attorneys Enrolled Agents Tax Professionals Professional Education Network TM Contents 1 Introduction 1 Basics of Life Insurance 3 Insurance
More informationTrusts An Introduction
Trusts can be highly effective wealth management vehicles, especially for income splitting, tax and estate planning purposes and wealth protection. A trust is an arrangement whereby a settlor transfers
More informationThe. Estate Planner. Is now a good time for a QPRT? Trust your trustee
The Estate Planner November/December 2009 Is now a good time for a QPRT? Transferring the family business Using a CLAT can benefit charity and your family Trust your trustee Choosing a trustee who will
More informationWealth Transfer Planning
Wealth Transfer Planning Advanced Markets Client Guide Repositioning assets to maximize wealth. John Hancock Life Insurance Company (U.S.A.) (John Hancock) John Hancock Life Insurance Company of New York
More information