Planning an Estate: A Guidebook of Principles and Techniques, 4th

Harold Weinstock, Martin A. Neumann

Book - hardbound
Copyright: 2002-2008

Last Updated: 7/28/2008

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Description

Get clear explanations of the advantages, disadvantages, and tax ramifications of many estate planning alternatives. Includes tips on how to save on death taxes using conventional and creative methods. Learn how to plan estates of elderly and disabled people, and how to reduce the tax impact following the surviving spouse's death. Explains the use of revocable trusts to avoid probate and reduce the income tax burden on beneficiaries. Tips on choosing assets to make up a gift and the manner in which the gift should be made. You'll also get information on how to use GRITs, GRATs, GRUTs, remainder interest joint purchases, gifts, and charity gifts to reduce taxes and increase the value of the estate.

Features

Coverage of marital deductions, including QTIPs
Details on handling business interests
Explanation of lifetime transfers to reduce estate tax
Information on estates with minor children as beneficiaries and the "kiddie tax"
Learn how to avoid probate
Tips on bypassing the second tax

Summary Of Contents

Chapter
1. Introduction to Estate Planning
  1. Introduction
  2. Objectives of Good Estate Planning
  3. Professions Involved in Estate Planning
  4. Information Needed to Prepare an Estate Plan
  5. Ascertaining the Estate Owner's Objectives
  6. Steps to Follow in Analyzing and Formulating the Estate Plan
2. Chapter 2. Overview of Tax Principles
  1. Introduction
  2. The Federal Estate Tax
  3. State Death Taxes
  4. The Federal Gift Tax
  5. State Gift Taxes (s 2:48)
  6. Basis of Property for Federal Income Tax Purposes
3. Planning a Small Family Estate
  1. Introduction
  2. Planning for the Surviving Spouse
  3. Planning for the Minor Children on the Death of the Surviving Spouse
  4. Planning for the Elderly and Disabled
4. Obtaining the Marital Deduction and the Community Property Exclusion to Save Death Taxes
  1. Introduction
  2. Marital Deduction
  3. Community Property Exclusion
5. Bypassing the Second Tax and Generation-Skipping Transfers
  1. Introduction
  2. The Bypass Trust as Part of the "A-B" Trust Plan
  3. Maximum Benefit Bypass ("B") Trust
  4. Discretionary Trust
  5. Widow's (or Widower's) Election Trust
  6. Bypass Trust for Beneficiaries Other Than Spouses
6. Avoiding Probate
  1. Probate in General
  2. Non-Tax Advantages and Disadvantages of Probate
  3. Methods of Avoiding Probate
7. Using a Revocable Living Trust
  1. Introduction
  2. Funded Revocable Living Trust
  3. Pour-Over Will and Unfunded Revocable Living Trust
8. Making Gifts
  1. General Considerations in Making Gifts
  2. To Whom a Gift Should be Made
  3. Selection of Assets to Give (ss 8:23, 8:24)
  4. Manner of Making Gifts
9. Non-Traditional Lifetime Wealth Transfer Devices
  1. Introduction
  2. Grantor Retained Interest Trusts (GRITs) and Qualified Personal Residence Trusts (QPRTs)
  3. Grantor Retained Annuity Trusts (GRATs)
  4. Sale of a Remainder Interest By Estate Owner
  5. Joint Purchase of Life Estate and Remainder Interest
10. Life Insurance
  1. Use of Life Insurance in Estate Planning in General
  2. Types of Life Insurance Policies
  3. Death Taxation
  4. Gift Taxation
  5. Income Taxation
  6. Estate Planning Considerations in Designating the Owner and Beneficiary of a Life Insurance Policy
  7. Who Should be Made the Owner?
  8. Business Life Insurance (ss 10:56 to 10:59)
  9. Use of Life Insurance in Connection With Employee Fringe Benefits
11. Annuities
  1. Annuity Contracts
  2. Commercial Annuities
  3. Private Annuities
12. Handling a Business Interest
  1. Introduction
  2. Valuation of a Closely-Held Business Interest for Death Tax Purposes
  3. Buy-Sell Agreements
  4. Use of § 303 Redemption
  5. Recapitalizing Stock of Closely-Held Company
  6. Use of Deferred Compensation Contracts
  7. Election to Defer Payment of Estate Tax with Respect to Closely-Held Business Interest
  8. Considering Disposition of Business Interest Before Death
  9. Planning for Possibility That Spouse Owning a Community Property Interest in a Business Dies Before the Spouse Who Operates the Business
13. Employee Benefits
  1. Introduction
  2. Qualified Retirement Plans
14. Making Gifts to Charity
  1. Introduction
  2. Income Tax Consequences of Outright Gifts
  3. Estate and Gift Tax Consequences of Outright Gifts
  4. Gifts of Split Interests in Trust
  5. Charitable Lead Trusts (ss 14:34 to 14:37)
15. Tax Planning the Estate After the Owner's Death
  1. Introduction
  2. Tax Return Requirements
  3. Elections Available to the Executor
  4. Election By Partnership and Limited Liability Company to Increase Basis
  5. Distribution Planning
  6. Disclaimers
Appendices

Filing and Shelving Instructions


	Product Details
	Brand: Clark Boardman Callaghan Pages: 694 Components: 1 Print Free Update Period: 90 Days Update Frequency: Pocket Parts-Annually


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