A complete guide to planning an estate under today's taxrules When it comes to your estate-no matter how big or small it maybe-you shouldn't leave anything to chance. Proper planning isnecessary to protect both your assets and your heirs. ExpertsStewart Welch III, Harold Apolinsky, and Craig Stephens know thisbetter than anyone else, and in the Third Edition of J.K.Lasser's New Rules for Estate and Tax Planning, they offervaluable advice and solid strategies to help you plan your estateunder today's tax rules. Packed with up-to-the-minute facts, thispractical resource covers essential issues; including how newlegislation will impact inheritances and trusts, the do's and don'tof gifting, retirement planning, and much more. * Reflects the most recent changes in tax laws as applicable toestate taxation * Offers useful planning with regard to trusts, charitablecontributions, life insurance, and wills * Outlines the best ways to preserve your wealth through properplanning strategies Filled with in-depth insights and expert advice, this book willshow you how to efficiently arrange your estate today so that youcan leave more to those you care about tomorrow.
HAROLD APOLINSKY, Esq., EPLS, is a board-certified estate planning attorney with the law firm Sirote & Permutt, PC, in Birmingham, Alabama. He served for over twenty-five years as an adjunct professor of estate planning at both the Cumberland School of Law and The University of Alabama School of Law.
CRAIG M. STEPHENS, Esq., LLM, is a tax attorney specializing in estate planning and family business succession planning. He is former president and board member of the local chapter of the National Committee on Planned Giving. Stephens is cochairman of his firm's estate and trust planning practice group at Sirote & Permutt, PC, in Birmingham, Alabama.
When it comes to planning an estate under today's ever-changing tax rules, you can't leave anything to chance. Proper planning is necessary to protect both your assets and your heirs. Estate Planning Law Specialists Harold Apolinsky and Craig Stephens and expert financial planner Stewart Welch III know this better than anyone else.
Now, in the fully revised and updated edition of J.K. Lasser's New Rules for Estate and Tax Planning, they offer valuable advice and solid strategies to help you plan your estate under today's tax rules. Packed with up-to-the-minute facts, this practical resource covers essential issues; including how new legislation will impact inheritances and trusts, the do's and don'ts of gifting, retirement planning, and much more. Filled with in-depth insights and expert advice, the J.K. Lasser's New Rules for Estate and Tax Planning also:
Reflects the most recent changes in tax laws as applicable to estate taxation
Offers useful planning with regard to trusts, charitable contributions, life insurance, and wills
Outlines the best ways to preserve your wealth through proper planning strategies
Written in a straightforward and accessible style, this timely guide will show you how to efficiently arrange your estate today so that you can leave more to those you care about tomorrow.
1. Congress Plays 'The Guessing Game' with the Estate Tax Laws.
Retirement Savings and Pension Reform.
Marginal Tax Rates.
Education Funding Incentives.
Business and Corporate Tax Relief.
Estate, Gift, and Generation-Skipping Transfers.
2. Estate Planning: You Need ItHere's Why.
What Is Estate Planning?
The Benefits of Estate Planning.
The Nightmares of Poor Planning.
The Myths of Estate Planning.
Guidelines for Successful Estate Planning.
3. The Estate Tax System: How Much Are You Really Worth?
Determining Your Estate Net Worth.
Understanding the Estate Tax System.
Your Estate Tax Picture.
Your Future Estate.
Overview of Estate Planning Strategies.
4. Investment Strategies for Maximizing Estate Growth.
Growth Strategy with a Safety Net.
Prioritizing Your Investment Dollars.
Retirement Planning: Choosing the Best Investment Environments.
Some Final Thoughts on Investing.
5. Retire with Dignity: How Much Is Enough?
Your Retirement Requirements.
6. You Don't Have a Will? Big Trouble!
Property Transfers at Death.
Transfers via Probate.
Direct Transfers by Title.
Other Methods of Property Ownership.
Choosing the Best Methods of Ownership.
Setting Estate Planning Goals.
7. Where There's a Will, There's Your Way!
What Is a Will?
Types of Wills.
Advantages and Disadvantages of Wills.
Intelligent Decisions Concerning Your Will's Basic Provisions.
Executing Your Will.
Where to Store Your Will.
Other Important Documents.
Working with Your Attorney.
When to Review Your Estate Plan.
8. Using Trusts in Your Estate Plan.
The Credit Shelter Trust Will.
9. Understanding the Living Trust.
Advantages of Living Trusts.
Disadvantages of Living Trusts.
How a Living Trust Operates.
Transferring Property into Your Living Trust.
Types of Property Likely to Be Transferred.
Living Trust Myths.
Transacting Business with Your Trust.
10. Using Insurance in Your Estate Plan.
Using Life Insurance to Replace Income.
How Much Life Insurance Do You Need?
What Type of Life Insurance Is Best for You?
Insurance on a Homemaker.
Insurance on Adult Children.
How to Get the Best Deal on Term Life Insurance.
Using Life Insurance for Estate Liquidity.
How Much Is Enough?
What Type of Life Insurance Is Best for Estate Liquidity?
The Irrevocable Life Insurance Trust.
Getting Your Life Insurance into Your Trust.
Using Life Insurance to Leverage Your Estate.
About Your Cash Values.
Long-Term Care Insurance.
11. Smart Strategies for Gifting Assets to Family Members.
The Annual Gift Tax Exclusion.
Filing a Gift Tax Return.
The Lifetime Applicable Exclusion Amount.
When the Donee Is a Minor.
Other Tax-Free Gifts.
Family Gifts Utilizing Trusts.
Grantor Retained Annuity Trust.
Grantor Retained Unitrust.
Qualified Personal Residence Trust.
Taking Advantage of Generation Skipping Transfers.
Sales to Family Members.