In the unfortunate event of a relative passing, the remaining family members will have to go through the task of arranging the transfer of their assets. The aim of an estate plan is to preserve the maximum amount of wealth of the assets in question for the identified beneficiaries as different factors such as federal and state tax laws can greatly affect the overall value of the said assets. Without the correct information, the family in question can be led astray by outside parties, which in some cases can affect the outcome of the estate plan and how it is shared in comparison to how the deceased wished. Here you will find a wide range of informative articles on estate planning from the way in which the process works, different factors to take into consideration and how to find the correct legal aid to help you with the plan. Other factors related to estate planning such as trusts and wills are also covered, helping make those difficult times slightly easier to handle.
Estate Planning Articles
Top 10 Uses of Life Insurance in a Family Business Succession Plan
25th March 2010A key part of estate planning for business owners who want to keep their business in the family is deciding when and to whom to transfer the business. The particular tools and techniques used in a business succession plan will vary based on the goals and ...
Author: Julius Giarmarco, Esq.
Private Annuities and Self-Canceling Installment Notes
25th March 2010Private annuities and self-canceling installment notes (“SCINs”) are both effective wealth transfer planning techniques. There is a present lapse in the estate and generation-skipping transfer taxes, but it’s likely that Congress will re...
Author: Julius Giarmarco, Esq.
Nonqualified Deferred Compensation Plans for Family Businesses
25th March 2010Broadly defined, a nonqualified deferred compensation (NQDC) plan is a contractual agreement in which an employer agrees to pay an employee later for services rendered currently. The NQDC benefits typically commence upon the employee’s retirement (a...
Author: Julius Giarmarco, Esq.
Installment Sales to Grantor Trusts
25th March 2010An installment sale to a "grantor trust" can provide valuable income, gift and estate tax benefits. If the assets sold produce a total return (income and appreciation) in excess of the interest rate on the note, substantial wealth can be removed from the ...
Author: Julius Giarmarco, Esq.
How to "HEET" up an Estate Plan
25th March 2010Under IRC Sections 2503(e) (concerning gift taxes) and 2611(b)(1) (concerning generation skipping transfer ("GST") taxes) (hereafter the "IRC exclusion provisions") all "qualified transfers" for tuition or medical expenses are excluded from both gift and ...
Author: Julius Giarmarco, Esq.
GRATS, Sales to Grantor Trusts, or Private Annuities: Which One is Best?
25th March 2010This article will compare three popular wealth transfer techniques that all produce potential estate tax savings by removing future appreciation from the transferor's estate, but without generating significant taxable gifts. Because these techniques produ...
Author: Julius Giarmarco, Esq.
Grantor Retained Annuity Trusts
24th March 2010A Grantor Retained Annuity Trust or “GRAT” is one of the most powerful and tax efficient wealth transfer tools available today. A GRAT allows a person to transfer the future appreciation of an asset to his/her children with little or no gift t...
Author: Julius Giarmarco, Esq.
Estate Planning for Unmarried Couples - Part Three
24th March 2010Part One of this article addresses non-tax estate planning issues confronted by unmarried couples; and Part Two this article deals with basic gifting strategies for unmarried couples. This article discusses several advanced gifting strategies that high ne...
Author: Julius Giarmarco, Esq.
Estate Planning for Unmarried Couples - Part Two
24th March 2010Part One of this article deals with non-tax estate planning issues facing unmarried couples. This article focuses on some basic gifting strategies that unmarried couples can utilize to reduce or eliminate death taxes. Part Three of this article examines s...
Author: Julius Giarmarco, Esq.
Estate Planning for Unmarried Couples - Part One
24th March 2010Whether of same-sex or opposite-sex unions, unmarried couples face many estate planning issues (and opportunities). Although unmarried couples clearly face challenges that married couples do not, most are challenges that can be overcome with planning. How...
Author: Julius Giarmarco, Esq.
Estate Planning with Family Partnerships
24th March 2010For estate planning purposes, a family partnership is typically a limited liability company or a limited partnership. A limited liability company (“LLC”) is an entity that combines the limited liability of a corporation with the “pass-th...
Author: Julius Giarmarco, Esq.
A Guide on Preparing Last Will and Testament Forms
23rd March 2010A help from an advocate is very valued in order that you can bring ahead the written material suitably as showed by the law. This kind of written material wants to be brought ahead validly and accordingly to the justice foundation on real estate rights. I...
Author: Arun
Single Family Will
22nd March 2010Writing your Will is often seen as a difficult task, it's ascertained that seventy pc of us are yet to make one. Obviously no one likes to discuss death, particularly their own. Yet writing a Will is an important step in your family's future to guarantee ...
Author: Michael Flowers
Buy-Sell Agreements
19th March 2010There are several reasons for business owners to enter into buy-sell agreements with their partners or co-shareholders: (1) to create a market for the owner's business interest at certain triggering events such as death, disability or retirement; (2) to f...
Author: Julius Giarmarco, Esq.
How to Choose Your Estate Planning Attorney
18th March 2010Planning your estate is something that will eventually touch every part of your life, so you will be discussing everything with your attorney. They'll need to know about medical conditions, family issues, business, insurance, finance and more. It can ...
Author: Johnson