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Articles, tagged with "grantor", page 1
Legal
Estate planners use trusts to protect beneficiaries from their inability, their disability, their creditors and their predators. Included under "creditors" are the IRS and divorced spouses. Most traditional trusts distribute the assets when the beneficiar...
Author: Julius Giarmarco, Esq.
Beneficiary-Controlled Trusts
19th May 2010Estate planners use trusts to protect beneficiaries from their inability, their disability, their creditors and their predators. Included under "creditors" are the IRS and divorced spouses. Most traditional trusts distribute the assets when the beneficiar...
Author: Julius Giarmarco, Esq.
Estate Planning
In Estate of Knipp v Commissioner, 25 T.C. 153 (1955), the decedent was a 50% partner in a general partnership that was owner and beneficiary of 10 life insurance policies on his life. The policies were purchased for business purposes. The court ruled tha...
Author: Julius Giarmarco, Esq.
Planning Opportunities with Partnership-Owned Life Insurance
26th March 2010In Estate of Knipp v Commissioner, 25 T.C. 153 (1955), the decedent was a 50% partner in a general partnership that was owner and beneficiary of 10 life insurance policies on his life. The policies were purchased for business purposes. The court ruled tha...
Author: Julius Giarmarco, Esq.
Estate Planning
A “Crummey” Trust is a popular device used in making gifts that qualify for the $13,000/ $26,000 annual exclusion from gift tax. Most other forms of gifts that qualify for the annual exclusion require an immediate or at least a very early (i.e...
Author: Julius Giarmarco, Esq.
Spousal Lifetime Access Trusts
25th March 2010A “Crummey” Trust is a popular device used in making gifts that qualify for the $13,000/ $26,000 annual exclusion from gift tax. Most other forms of gifts that qualify for the annual exclusion require an immediate or at least a very early (i.e...
Author: Julius Giarmarco, Esq.
Estate Planning
Estate planners use trusts to protect beneficiaries from their inability, their disability, their creditors and their predators. Included under "creditors" are the IRS and divorced spouses. More sophisticated estate planners generally create multi-generat...
Author: Julius Giarmarco, Esq.
Using Trusts to Protect Heirs
25th March 2010Estate planners use trusts to protect beneficiaries from their inability, their disability, their creditors and their predators. Included under "creditors" are the IRS and divorced spouses. More sophisticated estate planners generally create multi-generat...
Author: Julius Giarmarco, Esq.
Trusts
A Qualified Personal Residence Trust (QPRT) is an excellent tool for persons with large estates to transfer a principal residence or vacation home at the lowest possible gift tax value. The general rule is that if a person makes a gift of property in whic...
Author: Julius Giarmarco, Esq.
Qualified Personal Residence Trusts
25th March 2010A Qualified Personal Residence Trust (QPRT) is an excellent tool for persons with large estates to transfer a principal residence or vacation home at the lowest possible gift tax value. The general rule is that if a person makes a gift of property in whic...
Author: Julius Giarmarco, Esq.
Trusts
Estate planners use trusts to protect beneficiaries from their inability, their disability, their creditors and their predators. Included under “creditors” are the IRS and divorced spouses. More sophisticated estate planners generally create m...
Author: Julius Giarmarco, Esq.
Using Trusts to Protect Heirs
19th March 2010Estate planners use trusts to protect beneficiaries from their inability, their disability, their creditors and their predators. Included under “creditors” are the IRS and divorced spouses. More sophisticated estate planners generally create m...
Author: Julius Giarmarco, Esq.
Taxes
One of the least-understood tax rules is the federal gift tax. Gift taxes are paid by the grantor, not the recipient. But taxes are seldom owed, even on substantial gifts, because everyone gets a credit that exempts up to $1 million of taxable gifts over...
Author: versatile
Tax Tip on The Gift Tax: Use It or Lose It
16th December 2009One of the least-understood tax rules is the federal gift tax. Gift taxes are paid by the grantor, not the recipient. But taxes are seldom owed, even on substantial gifts, because everyone gets a credit that exempts up to $1 million of taxable gifts over...
Author: versatile
Trusts
If you consider protecting your wealth, take into account creating a beneficiary trust. This trust is an irrevocable process since you agree to give up control over your welfare in your beneficiary's behalf. A beneficiary can be anyone you wish. This pers...
Author: Klik Sail
Protect Your Welfare With A Beneficiary Trust.
25th November 2009If you consider protecting your wealth, take into account creating a beneficiary trust. This trust is an irrevocable process since you agree to give up control over your welfare in your beneficiary's behalf. A beneficiary can be anyone you wish. This pers...
Author: Klik Sail
Trusts
A good thing to use when it comes to getting assets protected for someone is that of a trust. Irrevocable trusts can be even more beneficial for many reasons. It can work to keep assets secure and to reduce estate taxes. It can also help to get a benefici...
Author: FrankRod
Features And Advantages That Work With Irrevocable Trusts
24th November 2009A good thing to use when it comes to getting assets protected for someone is that of a trust. Irrevocable trusts can be even more beneficial for many reasons. It can work to keep assets secure and to reduce estate taxes. It can also help to get a benefici...
Author: FrankRod
Legal
A trust is a device used to store assets and divvy them out under certain rules. Trusts contain any asset type a trustor (the person forming the trust, also referred to as grantor) chooses to put in it. Many trusts are setup with loved ones in mind, provi...
Author: Kevin Johnson
Creating a Trust in Canada
28th July 2009A trust is a device used to store assets and divvy them out under certain rules. Trusts contain any asset type a trustor (the person forming the trust, also referred to as grantor) chooses to put in it. Many trusts are setup with loved ones in mind, provi...
Author: Kevin Johnson
Taxes
New businesses spring up each and everyday, and while the product or service you plan to provide might be revolutionary, there are risks with all business ventures. Generally speaking, it is ideal to separate your personal finances and assets from that ...
Author: businessfundingrevealed
The Importance of a Tax ID Number
10th July 2009New businesses spring up each and everyday, and while the product or service you plan to provide might be revolutionary, there are risks with all business ventures. Generally speaking, it is ideal to separate your personal finances and assets from that ...
Author: businessfundingrevealed
Legal
The only difference between dying and living is that when one is alive you tend to do things one at a time but when the time comes for you to die you do things all at one time. So the best thing is for you to take care of everything while well and in good...
Author: Jinky Mesias
THINGS TO DO BEFORE DYING
03rd August 2005The only difference between dying and living is that when one is alive you tend to do things one at a time but when the time comes for you to die you do things all at one time. So the best thing is for you to take care of everything while well and in good...
Author: Jinky Mesias