Presenting a live 90-minute webinar with interactive Q&A. Today s faculty features:

Size: px
Start display at page:

Download "Presenting a live 90-minute webinar with interactive Q&A. Today s faculty features:"

Transcription

1 Presenting a live 90-minute webinar with interactive Q&A Estate Planning with Education Trusts and 529 Plans Establishing Education Trusts for Tax Savings, Drafting Education Provisions in Revocable Trusts, and Incorporating 529 Plans WEDNESDAY, JANUARY 9, pm Eastern 12pm Central 11am Mountain 10am Pacific Today s faculty features: Gregory Herman-Giddens, President, TrustCounsel, Chapel Hill, N.C. Robert Deschene, Attorney, Deschene Law Office, North Attleborough, Mass. The audio portion of the conference may be accessed via the telephone or by using your computer's speakers. Please refer to the instructions ed to registrants for additional information. If you have any questions, please contact Customer Service at ext. 10.

2 Sound Quality If you are listening via your computer speakers, please note that the quality of your sound will vary depending on the speed and quality of your internet connection. If the sound quality is not satisfactory and you are listening via your computer speakers, you may listen via the phone: dial and enter your PIN when prompted. Otherwise, please send us a chat or immediately so we can address the problem. If you dialed in and have any difficulties during the call, press *0 for assistance. Viewing Quality To maximize your screen, press the F11 key on your keyboard. To exit full screen, press the F11 key again.

3 FOR LIVE EVENT ONLY For CLE purposes, please let us know how many people are listening at your location by completing each of the following steps: In the chat box, type (1) your company name and (2) the number of attendees at your location Click the SEND button beside the box

4 If you have not printed the conference materials for this program, please complete the following steps: Click on the + sign next to Conference Materials in the middle of the lefthand column on your screen. Click on the tab labeled Handouts that appears, and there you will see a PDF of the slides for today's program. Double click on the PDF and a separate page will open. Print the slides by clicking on the printer icon.

5 Estate Planning with Education Trusts and 529 Plans January 9, 2013 Robert Deschene, Attorney at Law Massachusetts Rhode Island Church Street North Attleborough MA Material in this PowerPoint is drawn from Incorporating Education Trusts and 529 Plans in in Estate Plans, by Gregory Herman-Giddens Used with permission for educational purposes. All rights reserved.

6 Advantages of Education Trusts Disadvantages of Non-Trust Education Funds Coverdale Education Savings Accounts Annual contributions limited to only $2000 Custodial Accounts (under UGMA or UTMA) Parents contribution irrevocable & nonrefundable by child/beneficiary Trust assets included in parents taxable estate (until child is 18 or 21) Child can use money as he wishes after reaching age of majority Trust assets treated as child s assets for financial aid purposes, and therefore higher percentage counted as available (35% or 20%) 6 6

7 Advantages of Education Trusts Non-Trust Education Fund (cont.) 2503(c) Trusts (or Minor s Trusts ) Only one trust beneficiary allowed Beneficiary must be given right to withdraw all trust assets at age 21 Any undistributed income held in the trust is taxed at high graduated trust rates (i.e., 35% in 2012 for income of $12,650) 7 7

8 Advantages of Education Trusts Advantages of 529 Plans over Education Funds State-operated education savings programs, and donor can choose which states plan to use, not only home state) Donor maintains total control over trust funds, and how they are managed and invested Donor may change investment strategies at any time Donor may recoup contributions for personal use if necessary (subject to income tax and 10% penalty) 8 8

9 Advantages of Education Trusts Advantages of 529 Plans over Education Funds (cont.) Annual right to rollover to another State s 529 Plan Right to change beneficiary (provided new beneficiary is qualified family member) Plans can be created to benefit not only minor family members, but adults or non-relatives No income tax on withdrawals if used for qualified higher education expenses Plan assets treated as parents assets for financial aid purposes, so only 5.6% counted, not 35% or 20% 9 9

10 Advantages of Education Trusts Advantage of Education Trusts 2 types of education trusts: Education Trusts Owning 529 Plans Trusts Tuition-Only Trusts Education Trusts Owning 529 Plans 529 Plans alone normally offer only limited trust asset protection from creditor claims Trust owning a 529 Plan contains spendthrift language to protect against creditors of donor and beneficiaries 10 10

11 Advantages of Education Trusts Avoids ownership of the 529 Plan by an individual, who may die or become incapacitated, instead allowing seamless control of 529 Plan by successor trustee Distributions for non-qualified (viz., non-educational) purposes can be retained in trust: Prevents their re-inclusion in donor s taxable estate Protects them from beneficiary s creditor claims Trustee manages Plan under fiduciary duty 11 11

12 Advantages of Education Trusts Tuition-Only Trusts (HEET Trusts) IRC 2503(e) makes any direct tuition payments to an educational institution excludible from gift tax and/or (if the beneficiary is a skip person ) excludible from the generation-skipping transfer (GST) tax No need to allocate GST exemption to HEET trust Trust can provide for more than one beneficiary Trust may own 529 Plans if distributions for tuition only Trust can be used for all educational levels, not only higher education 12

13 Estate Planning with Education Trusts and 529 Plans January 9, 2013 Gregory Herman-Giddens, JD, LLM, TEP, CFP Attorney at Law North Carolina Florida New York Main Office 205 Providence Rd., Chapel Hill, NC Gregory Herman-Giddens

14 Structuring Education Trusts Drafting an Education Clause in an RLT Defining Education Generally Included in standard HEMS distribution clauses Education is an ascertainable standard under IRC 2041 and 2514 Include a general definition in the trust (See Appendix 1) Include more than traditional academic courses? Room and board Fees Supplies Tutoring Transportation 14

15 Structuring Education Trusts Specific Education Clauses For trust grantors who desire to fund only certain types of education and/or levels of achievement Factors to consider What levels/types of education? Primary, secondary, college, grad school Community college or trade school Beauty school Certain institutions only All or only certain courses of study Certain GPA required? Time period What happens if the beneficiary doesn t meet conditions See Appendix

16 Structuring Education Trusts Standalone Education Trusts Practical considerations Amount funded Trustee 529 Plan Trusts Include provision expressly authorizing 529 Plans See Exhibit C Advantages discussed earlier 16 16

17 Structuring Education Trusts 529 Plan Trusts (cont.) Disadvantages Tax Complications Gift GST Income Funds not accessible by donor/grantor Financial aid Beneficiary s interest in trust counted at 35% 2008 IRS Advance Notice of Proposed Rulemaking Proposal only Prohibits trust ownership of 529 Plans Only transfers by current account owner treated as basis 17 17

18 Structuring Education Trusts Tuition Only Trusts Health and Education Exclusion Trusts (HEETS) IRC 2503(e) exempts direct payments for tuition/healthcare from GST HEET Trusts do not require allocation of GST exemption Can be for tuition only or include medical payments Include charity as beneficiary to avoid GST taxable termination Can be used for primary and secondary education, unlike 529 Plans Can invest in 529 Plans with limitations to use of those funds for college tuition only 18 18

19 Incorporating 529 Plans in Education Trusts 529 Plans in General State-run college education savings programs Post secondary education expenses only Qualified Higher Education Expenses (QHEE) College, grad or professional school, community college Expenses for room and board permitted Not limited to state of residence No limits on out of state colleges Contribution limits Vary, but usually $ K 19 19

20 Incorporating 529 Plans in Education Trusts 529 Plans in General (cont.) Federal guidelines for state operation 1998 Notice of Proposed Rulemaking 2008 Advance Notice of Proposed Rulemaking Guidance Notices Final regulations pending Direct sold vs. Advisor sold 20 20

21 Incorporating 529 Plans in Education Trusts Features of 529 Plans Wide investment choices Conservative to aggressive Target date (college start) Online management Reallocation of investments Contributions Withdrawals/payments 21 21

22 Incorporating 529 Plans in Education Trusts Features of 529 Plans (cont.) Donor retains full control Ability to change beneficiaries (within family) Right to withdraw funds for any purpose Ability to rollover to another plan (once annually) 22 22

23 Incorporating 529 Plans in Education Trusts Gift Tax Considerations Contributions qualify for annual exclusion 5 year gift tax annual exclusion front-loading Not for gifts to trust directly Estate Tax Considerations Excluded from estate of owner Included in taxable estate of beneficiary 23

24 Incorporating 529 Plans in Education Trusts Income Tax Considerations Growth tax-free if used for QHEE 10% penalty and tax on withdrawals otherwise Not deductible for federal income tax purposes Some states allow limited income tax deduction Trust rates for undistributed income Top federal rate of 39.6% at about $12,000 income 3.8 Medicare surtax starting in 2013 Grantor trust treatment may be advisable 24 24

25 Incorporating 529 Plans in Education Trusts Asset Protection Federal Law - No protection Exception bankruptcy State law About one-half of states provide some protection Significant advantage of ownership in irrevocable trusts Include Spendthrift provision 25 25

26 Incorporating 529 Plans in Education Trusts Financial aid considerations 529 Plans considered asset of parent for FAFSA purposes Assessed at 5.6% Student asset rate is 35% Independent students 20% Trust assets Beneficiary s interest in a trust assessed at 35% Cannot practically draft around issue 26 26

27 Resource on 529 Plans SavingForCollege.com run by CPA Joe Hurley - State-by-state comparisons - Q & A - Calculators 27

28 Contact Information Gregory Herman-Giddens, JD, LLM, TEP, CFP Attorney at Law (NC, FL, TN, NY) Offices in North Carolina, Miami and New York City Thank You for Attending! 28 28

29 Tax Implications and Benefits Custodial Accounts (UGMA/UTMA) Income taxation: Taxed to child/beneficiary up to threshold ($1900 in 2012), then at donor/parent s rate Estate/Gift taxation: Trust assets included in parent/donor s taxable estate until beneficiary reaches majority 2503(c) Trusts ( Minors Trusts ) Income taxation: Retained income taxed at higher trust rates 29 29

30 Tax Implications and Benefits Taxation of 2503(c) Trusts ( Minors Trusts ) (cont.) Estate/gift taxation: 529 Plans Contributions qualify for annual gift tax exclusion ($14K in 2013) Income taxation: Tax-free growth if distributions for educational purposes Non- educational distributions are taxable, with 10% penalty Contributions not deductible for federal tax, maybe for some States income tax 30 30

31 Tax Implications and Benefits Taxation of 529 Plans (cont.) Estate/gift taxation: Removed from donor s taxable estate (but retains control) Change of beneficiary to qualified family member has no tax consequences (but: if to skip person, then GST tax?) Contributions qualify for the annual gift tax exclusion ($14K) Lump-sum initial front-loaded contribution of 5 years of annual exclusion (or $70,000) permitted (note: must file election) But note: If donor fails to survive 5 years, portion of excluded assets pulled back into donor s taxable estate 31 31

32 Tax Implications and Benefits Trusts Owning 529 Plans Income taxation: If created as grantor trust, then taxed to donor/parent No state income tax deduction allowed for contributions Estate/gift taxation: Excluded from donor s taxable estate (provided donor does not serve as trustee) Non-qualified distributions can be held in trust, rather than being pulled back into donor s taxable estate Contributions qualify for annual gift tax exclusion ($14K), provided beneficiary is given Crummey right of withdrawal 32

33 Tax Implications and Benefits Taxation of Trusts Owning 529 Plans (cont.) No 5-year front-loading of annual exclusion is available (as with 529 Plans) Tuition-Only Trusts (HEET Trusts) Income taxation: If non-grantor trust, taxed to trust, but with charitable deduction if distributions to charitable beneficiary If grantor trust, taxed to donor (not trust), and since tax payments not treated as gift, allows trust corpus to grow faster Estate/gift taxation: Contributions subject to estate and gift tax (but ways to avoid or minimize) 33

34 Tax Implications and Benefits Taxation of Tuition-Only Trusts (HEET Trusts) (cont.) No Gift/GST tax if structured so that: No distributions are made to any skip person for other than qualified educational (or medical) purposes; and The trust has at least one non- skip person (e.g., a charity) as a beneficiary, thereby avoiding potential for taxable termination for GST tax purposes Generation-Skipping Tax & Education Trusts Education trusts for benefit of any skip person (viz., family members more than one generation younger than donor (e.g., grandchild), or other beneficiaries who are more than 37½ years younger than donor) 34

35 Tax Implications and Benefits Generation-Skipping Tax & Education Trusts (cont.) Applies to any gifts made to skip persons exceeding lifetime GST tax exemption Gifts made pursuant to the annual exclusion ($14K in 2013) not subject to GST tax provided: Trust is for skip person s benefit only; and Trust assets will be includable in skip person s taxable estate, or skip person s death will be a taxable termination Allocate lifetime GST tax exemption to ensure trust has GST tax exclusion ratio of zero 35

36 Contact Information Robert Deschene Attorney at Law (MA & RI) Thank You for Attending! 36 36

Estate Planning With Education Trusts and 529 Plans

Estate Planning With Education Trusts and 529 Plans Presenting a live 90-minute webinar with interactive Q&A Estate Planning With Education Trusts and 529 Plans Establishing Education Trusts for Tax Savings, Drafting Education Provisions in Revocable Trusts,

More information

Presenting a live 90-minute webinar with interactive Q&A. Today s faculty features: Dean C. Berry, Partner, Cadwalader Wickersham & Taft, New York

Presenting a live 90-minute webinar with interactive Q&A. Today s faculty features: Dean C. Berry, Partner, Cadwalader Wickersham & Taft, New York Presenting a live 90-minute webinar with interactive Q&A Estate Planning Involving Resident and Non-Resident Aliens Navigating Estate, Gift and GST Tax Rules, and Leveraging Estate and Lifetime Gifting

More information

Marital Deduction Revocable Trusts: Funding Formulas to Minimize Tax and Maximize Spousal Benefits

Marital Deduction Revocable Trusts: Funding Formulas to Minimize Tax and Maximize Spousal Benefits Presenting a live 90-minute webinar with interactive Q&A : Funding Formulas to Minimize Tax and Maximize Spousal Benefits Selecting, Structuring, and Applying Pecuniary Marital, Non-Marital and Fractional

More information

Grantor Retained Annuity Trusts: Tax-Efficient Estate Planning Techniques

Grantor Retained Annuity Trusts: Tax-Efficient Estate Planning Techniques Presenting a live 110-minute teleconference with interactive Q&A Grantor Retained Annuity Trusts: Tax-Efficient Estate Planning Techniques Leveraging GRATs to Preserve and Transfer Assets TUESDAY, JANUARY

More information

Captive Insurance Companies in Estate Planning: A Profit Maximization and Risk Reduction Tool

Captive Insurance Companies in Estate Planning: A Profit Maximization and Risk Reduction Tool Presenting a live 90-minute webinar with interactive Q&A Captive Insurance Companies in Estate Planning: A Profit Maximization and Risk Reduction Tool Leveraging the Benefits for Asset Protection, Wealth

More information

Estate and Trust Form 1041 Issues for Tax Return Preparers

Estate and Trust Form 1041 Issues for Tax Return Preparers Estate and Trust Form 1041 Issues for Tax Return Preparers Allocating Income and Deductions, Calculating DNI, Understanding Reporting Rules for Trusts, and More WEDNESDAY, FEBRUARY 27, 2013, 1:00-2:50

More information

Presenting a live 90-minute webinar with interactive Q&A. Today s faculty features:

Presenting a live 90-minute webinar with interactive Q&A. Today s faculty features: Presenting a live 90-minute webinar with interactive Q&A Estate Planning Involving Resident and Non-Resident Aliens Navigating Estate, Gift and GST Tax Rules and Leveraging Estate and Lifetime Gifting

More information

Rising tuition for college education is a daunting

Rising tuition for college education is a daunting By Sharon L. Klein Paying for the (Grand) Kids College Know all the options and combinations thereof Rising tuition for college education is a daunting reality for many parents and grandparents. Even the

More information

BUILDING FLEXIBILITY INTO THE TYPICAL IRREVOCABLE LIFE INSURANCE TRUST

BUILDING FLEXIBILITY INTO THE TYPICAL IRREVOCABLE LIFE INSURANCE TRUST BUILDING FLEXIBILITY INTO THE TYPICAL IRREVOCABLE LIFE INSURANCE TRUST Presented to the Kentucky Society of Certified Public Accountants, 48 th Annual Kentucky Institute on Federal Taxation, November 18,

More information

Allocating Capital Gains to Distributable Net Income in Estates and Trusts: Achieving Optimal Tax Treatment

Allocating Capital Gains to Distributable Net Income in Estates and Trusts: Achieving Optimal Tax Treatment Presenting a live 110-minute webinar with interactive Q&A Allocating Capital Gains to Distributable Net Income in Estates and Trusts: Achieving Optimal Tax Treatment WEDNESDAY, JULY 1, 2015 1pm Eastern

More information

Divorce: When a Spouse Files Bankruptcy

Divorce: When a Spouse Files Bankruptcy Presenting a live 90-minute webinar with interactive Q&A Divorce: When a Spouse Files Bankruptcy Dischargeability of Domestic Support Obligations and Property Settlements WEDNESDAY, FEBRUARY 15, 2012 1pm

More information

LIFE INSURANCE TRUSTS

LIFE INSURANCE TRUSTS LIFE INSURANCE TRUSTS Robert M. Mendell, JD, CPA* Robert M. Mendell, Attorney at Law, P.C. 908 Town & Country Blvd. Suite 120 Houston, Texas 77024 (713) 888-0700 Fax: (713) 888-0800 Email: rmendell@mendellgroup.com

More information

Estate Planning Using LLCs and Limited Partnerships Achieving Estate Tax Savings Through Valuation Discounts, Protecting Against Creditor Claims

Estate Planning Using LLCs and Limited Partnerships Achieving Estate Tax Savings Through Valuation Discounts, Protecting Against Creditor Claims Presenting a live 90-minute webinar with interactive Q&A Estate Planning Using LLCs and Limited Partnerships Achieving Estate Tax Savings Through Valuation Discounts, Protecting Against Creditor Claims

More information

The Revocable Trust in Florida

The Revocable Trust in Florida The Revocable Trust in Florida The revocable, or living, trust is often promoted as a means of avoiding probate and saving taxes at death. The revocable trust has certain advantages over a traditional

More information

Overcoming Ethical Challenges for Multi-Firm Lawyers and Their Firms: Fiduciary Duty, Conflict, Fee-Splitting and More

Overcoming Ethical Challenges for Multi-Firm Lawyers and Their Firms: Fiduciary Duty, Conflict, Fee-Splitting and More Presenting a live 90-minute webinar with interactive Q&A Overcoming Ethical Challenges for Multi-Firm Lawyers and Their Firms: Fiduciary Duty, Conflict, Fee-Splitting and More TUESDAY, SEPTEMBER 16, 2014

More information

Presenting a live 90-minute webinar with interactive Q&A. Today s faculty features:

Presenting a live 90-minute webinar with interactive Q&A. Today s faculty features: Presenting a live 90-minute webinar with interactive Q&A Drafting and Negotiating Convertible Preferred Stock Provisions: Protecting Interests of Businesses and Investors Structuring Liquidation and Distribution

More information

IRREVOCABLE LIFE INSURANCE TRUST CAUTION:

IRREVOCABLE LIFE INSURANCE TRUST CAUTION: CHERRY CREEK CORPORATE CENTER 4500 CHERRY CREEK DRIVE SOUTH #600 DENVER, CO 80246-1500 303.322.8943 WWW.WADEASH.COM DISCLAIMER Material presented on the Wade Ash Woods Hill & Farley, P.C., website is intended

More information

M&A Auctions: Successful Bidding Strategies

M&A Auctions: Successful Bidding Strategies Presenting a live 90-minute webinar with interactive Q&A M&A Auctions: Successful Bidding Strategies Planning and Executing Winning Bids, Minimizing Costs of Losing Bids THURSDAY, JANUARY 8, 2015 1pm Eastern

More information

Advanced Estate Planning

Advanced Estate Planning Advanced Estate Planning October 7, 2014 Presented by Gregory E. Lambourne, Esq. Brown & Streza LLP Irvine, CA Review of Basic Estate Planning Health Care Directives Powers of Attorney The Probate Process

More information

Business Entity Conversions: Income Tax Consequences You May Not Anticipate

Business Entity Conversions: Income Tax Consequences You May Not Anticipate Presenting a live 110-minute teleconference with interactive Q&A Business Entity Conversions: Income Tax Consequences You May Not Anticipate Understanding and Navigating Complex Federal Income Tax Implications

More information

Spousal Access Trusts Access To Cash Value Potential Through Flexible Trust Planning

Spousal Access Trusts Access To Cash Value Potential Through Flexible Trust Planning SALES STRATEGY Guiding you through life. ESTATE PLANNING Spousal Access Trusts Access To Cash Value Potential Through Flexible Trust Planning The Concerns Many clients who are concerned about maximizing

More information

IRREVOCABLE TRUST CAUTION: The purposes of this memorandum are to assist you and the trustee of your irrevocable trust in:

IRREVOCABLE TRUST CAUTION: The purposes of this memorandum are to assist you and the trustee of your irrevocable trust in: CHERRY CREEK CORPORATE CENTER 4500 CHERRY CREEK DRIVE SOUTH #600 DENVER, CO 80246-1500 303.322.8943 WWW.WADEASH.COM DISCLAIMER Material presented on the Wade Ash Woods Hill & Farley, P.C., website is intended

More information

ERISA Retirement Plans: Fiduciary Compliance and Risk Management for Investment Fund Selection and Fee Disclosures

ERISA Retirement Plans: Fiduciary Compliance and Risk Management for Investment Fund Selection and Fee Disclosures Presenting a live 90-minute webinar with interactive Q&A ERISA Retirement Plans: Fiduciary Compliance and Risk Management for Investment Fund Selection and Fee Disclosures Discharging Fiduciary Duties

More information

Estate Tax Overview. Emphasis on Generation Skipping Transfers

Estate Tax Overview. Emphasis on Generation Skipping Transfers Estate Tax Overview Emphasis on Generation Skipping Transfers 1 A Brief History - 1916 The Revenue Act of 1916 (39 Stat. 756) created a tax on the transfer of wealth from an estate to its beneficiaries,

More information

Maximizing Wealth Transfer using Innovative Trust Designs

Maximizing Wealth Transfer using Innovative Trust Designs Maximizing Wealth Transfer using Innovative Trust Designs For For Producer or or Broker/Dealer Use Use Only. Only. Not Not for for Public Distribution. Why Life Insurance? Provides for: Personal family

More information

Negotiating EHR Agreements: Complying with HIPAA, Stark and AKS, Overcoming Privacy and Security Risks

Negotiating EHR Agreements: Complying with HIPAA, Stark and AKS, Overcoming Privacy and Security Risks Presenting a live 90-minute webinar with interactive Q&A Negotiating EHR Agreements: Complying with HIPAA, Stark and AKS, Overcoming Privacy and Security Risks Acquiring an EHR and Meeting Incentive Program

More information

Commercial Leases: Risk Mitigation Strategies for Landlords and Tenants

Commercial Leases: Risk Mitigation Strategies for Landlords and Tenants Presenting a live 90-minute webinar with interactive Q&A Commercial Leases: Risk Mitigation Strategies for Landlords and Tenants WEDNESDAY, OCTOBER 10, 2012 1pm Eastern 12pm Central 11am Mountain 10am

More information

Estate Planning Basics. An Overview of the Estate Planning Process

Estate Planning Basics. An Overview of the Estate Planning Process Estate Planning Basics An Overview of the Estate Planning Process What Is an Estate Plan? An estate plan is a map This map reflects the way you want your personal and financial affairs to be handled in

More information

CLIENT GUIDE. Advanced Markets. Estate Planning Client Guide

CLIENT GUIDE. Advanced Markets. Estate Planning Client Guide CLIENT GUIDE Advanced Markets Estate Planning Client Guide TABLE OF CONTENTS Why Create an Estate Plan?........................ 1 Basic Estate Planning Tools......................... 2 Funding an Irrevocable

More information

Generation Skipping Transfer Tax

Generation Skipping Transfer Tax Generation Skipping Transfer Tax Producer Guide For agent use only. Not for public distribution. Generation Skipping Transfer Tax Summary The generation skipping transfer (GST) tax is a complex tax. This

More information

FUTURE SCHOLAR 529 COLLEGE SAVINGS PLAN BECAUSE YOU CAN HELP MAKE THEIR DREAMS COME TRUE

FUTURE SCHOLAR 529 COLLEGE SAVINGS PLAN BECAUSE YOU CAN HELP MAKE THEIR DREAMS COME TRUE FUTURE SCHOLAR 529 COLLEGE SAVINGS PLAN BECAUSE YOU CAN HELP MAKE THEIR DREAMS COME TRUE CONTENTS 3 Welcome to the Future Scholar 529 plan 4 5 Tax advantages 6 7 Control and flexibility 8 9 Investment

More information

Sales Tax Audits in the Era of Digital Documentation Preparing for a Computer-Based Review Involving Electronic Invoices, Bills of Lading, Etc.

Sales Tax Audits in the Era of Digital Documentation Preparing for a Computer-Based Review Involving Electronic Invoices, Bills of Lading, Etc. Presenting a live 110-minute teleconference with interactive Q&A Sales Tax Audits in the Era of Digital Documentation Preparing for a Computer-Based Review Involving Electronic Invoices, Bills of Lading,

More information

IRREVOCABLE TRUSTS Memorandum to the Settlor and the Trustee

IRREVOCABLE TRUSTS Memorandum to the Settlor and the Trustee Memorandum to the Settlor and the Trustee by Layne T. Rushforth 1. GENERALLY This memorandum is for the settlor (creator) and the trustee (manager) of an irrevocable trust. There is a section for each

More information

Irrevocable Life Insurance Trust (ILIT)

Irrevocable Life Insurance Trust (ILIT) Irrevocable Life Insurance Trust (ILIT) Overview An irrevocable life insurance trust (ILIT) can be a useful vehicle to hold life insurance policies outside the grantor s taxable estate. When an insured

More information

Estate planning strategies using life insurance in a trust Options for handling distributions, rollovers and conversions

Estate planning strategies using life insurance in a trust Options for handling distributions, rollovers and conversions Estate planning strategies using life insurance in a trust Options for handling distributions, rollovers and conversions Life s better when we re connected Table of contents Find your questions review

More information

Structuring Rooftop Lease Agreements: Legal and Business Considerations

Structuring Rooftop Lease Agreements: Legal and Business Considerations Presenting a live 90 minute webinar with interactive Q&A Structuring Rooftop Lease Agreements: Legal and Business Considerations Negotiating Leases for Telecom Equipment, Solar Energy, Commercial Farming,

More information

State Bar of Texas Charitable Lead Trusts

State Bar of Texas Charitable Lead Trusts State Bar of Texas Charitable Lead Trusts Jeffrey N. Myers Bourland, Wall & Wenzel, A Professional Corporation Attorneys and Counselors 301 Commerce Street, Suite 1500 Fort Worth, Texas 76102 (817) 877-1088

More information

White Paper. Annuities As Trust Assets. Annuities. April, 2012. Your future. Made easier.

White Paper. Annuities As Trust Assets. Annuities. April, 2012. Your future. Made easier. White Paper Annuities As Trust Assets Annuities April, 2012 Your future. Made easier. TABLE OF CONTENTS 3 4 5 5 6 7 8 10 12 Trustees Legal Duties Who Are The Beneficiaries And When Do They Get Their Benefits?

More information

Advanced Markets Estate Planning for Non-Citizens in the United States

Advanced Markets Estate Planning for Non-Citizens in the United States Estate Planning for Non-Citizens in the United States SINGLE LIFE SPOUSAL ACCESS TRUSTS: A LIFE INSURANCE ALTERNATIVE As large numbers of people from other countries settle in the United States (U.S.),

More information

Builder's Risk Insurance for Construction Projects: Legal Issues

Builder's Risk Insurance for Construction Projects: Legal Issues Presenting a live 90-minute webinar with interactive Q&A Builder's Risk Insurance for Construction Projects: Legal Issues Evaluating Scope of Coverage, Policy Exclusions and Coverage Extensions and Sub-Limits

More information

IRREVOCABLE TRUSTS ADVANCED MARKETS. Using Transamerica s variable annuities in. Benefits of using variable annuities in irrevocable trusts

IRREVOCABLE TRUSTS ADVANCED MARKETS. Using Transamerica s variable annuities in. Benefits of using variable annuities in irrevocable trusts Using Transamerica s variable annuities in IRREVOCABLE TRUSTS The duties of a trustee can be challenging. Among their many responsibilities, trustees must act as fiduciaries in selecting trust investments

More information

Maximizing the Value of 529 Plans

Maximizing the Value of 529 Plans Maximizing the Value of 529 Plans Not FDIC Insured May Lose Value No Bank Guarantee INVESTMENT MANAGEMENT 529 Plans A Flexible Way to Invest for College 529 plans have come to be well known for the benefits

More information

Creating a Lasting Legacy

Creating a Lasting Legacy Picture Placeholder Creating a Lasting Legacy Strategies for effective estate and tax planning Jim Alverson, Director Wealth Planning Strategies Welcome to today s presentation This presentation (including

More information

A PROFESSIONAL S GUIDE TO EDUCATION SAVINGS

A PROFESSIONAL S GUIDE TO EDUCATION SAVINGS CPAs Attorneys Enrolled Agents Tax Professionals A PROFESSIONAL S GUIDE TO EDUCATION SAVINGS www.edwardjones.com/teamwork Professional Education Network TM CONTENTS 1 Introduction 2 Saving versus Borrowing

More information

M&A Purchase Price Adjustment Clauses

M&A Purchase Price Adjustment Clauses Presenting a live 90-minute webinar with interactive Q&A M&A Purchase Price Adjustment Clauses Crafting Provisions to Mitigate Buyers' Financial Risks and Achieve Fair Compensation for Sellers THURSDAY,

More information

Web: www.aldavlaw.com Blog: www.californiatrustestateandprobatelitigation.com GIFTS TO MINORS

Web: www.aldavlaw.com Blog: www.californiatrustestateandprobatelitigation.com GIFTS TO MINORS Web: www.aldavlaw.com Blog: www.californiatrustestateandprobatelitigation.com GIFTS TO MINORS Grandparents and other relatives and friends often desire to make lifetime gifts to or for the benefit of a

More information

Administrator. Any person to whom letters of administration have been issued to administer an intestate estate.

Administrator. Any person to whom letters of administration have been issued to administer an intestate estate. An Estate Planning Glossary The estate planning process is a complex one. During the course of your research into the firm to choose to handle your needs in administering your assets you will hear numerous

More information

Solar Leases: Legal Considerations for Property Owners

Solar Leases: Legal Considerations for Property Owners Presenting a live 90-minute webinar with interactive Q&A Solar Leases: Legal Considerations for Property Owners Analyzing Lease Sites and Deal Structures and Addressing Key Document Provisions WEDNESDAY,

More information

Negotiating EBITDA and Financial Covenants in Middle Market Loan Agreements

Negotiating EBITDA and Financial Covenants in Middle Market Loan Agreements Presenting a live 90-minute webinar with interactive Q&A Negotiating EBITDA and Financial Covenants in Middle Market Loan Agreements WEDNESDAY, OCTOBER 23, 2013 1pm Eastern 12pm Central 11am Mountain 10am

More information

Payment and Performance Surety Bonds in Construction Projects: Perspectives of Owners, Contractors and Sureties

Payment and Performance Surety Bonds in Construction Projects: Perspectives of Owners, Contractors and Sureties Presenting a live 90-minute webinar with interactive Q&A Payment and Performance Surety Bonds in Construction Projects: Perspectives of Owners, Contractors and Sureties Asserting and Defending Surety Bond

More information

New Partnership Debt for Equity Exchange Regulations Navigating Issues With COD Income, Gains and Losses, and Other Aspects of Sect.

New Partnership Debt for Equity Exchange Regulations Navigating Issues With COD Income, Gains and Losses, and Other Aspects of Sect. Presenting a live 110 minute teleconference with interactive Q&A New Partnership Debt for Equity Exchange Regulations Navigating Issues With COD Income, Gains and Losses, and Other Aspects of Sect. 108(e)(8)

More information

5 Generation-Skipping Transfer Tax Issues

5 Generation-Skipping Transfer Tax Issues 5 Generation-Skipping Transfer Tax Issues OVERVIEW OF CHAPTER This chapter 1 discusses selected key generation-skipping transfer (GST) tax issues concerning life insurance. 2 The GST tax is one of the

More information

for Landlords and Tenants Negotiating Insurance, Indemnity and Mutual Waiver of Subrogation Provisions

for Landlords and Tenants Negotiating Insurance, Indemnity and Mutual Waiver of Subrogation Provisions Presenting a live 90 minute webinar with interactive Q&A Commercial Leases: Risk Mitigation Strategies for Landlords and Tenants Negotiating Insurance, Indemnity and Mutual Waiver of Subrogation Provisions

More information

Introduction/Legal Note

Introduction/Legal Note Sponsored by Wealth Management Strategies: 529 Plans How To Maximize i Their Hidden Value in 2014 Presented by: Chris Stack, Esq. Managing g Consultant This presentation may not be reproduced or distributed

More information

Structuring Equity Compensation for Partnerships and LLCs

Structuring Equity Compensation for Partnerships and LLCs Presenting a live 90-minute webinar with interactive Q&A Structuring Equity Compensation for Partnerships and LLCs Navigating Capital and Profits Interests Plus Section 409A and Tax Consequences TUESDAY,

More information

Wealth Planning Year End Tax Tips. Income Tax Planning

Wealth Planning Year End Tax Tips. Income Tax Planning Wealth Planning Year End Tax Tips The end of every year poses a critical deadline for utilizing certain tax benefits. The following covers various items to address in your annual tax, estate, retirement

More information

HERMENZE & MARCANTONIO LLC ESTATE PLANNING PRIMER FOR MARRIED COUPLES 2015 (New York)

HERMENZE & MARCANTONIO LLC ESTATE PLANNING PRIMER FOR MARRIED COUPLES 2015 (New York) HERMENZE & MARCANTONIO LLC ESTATE PLANNING PRIMER FOR MARRIED COUPLES 2015 (New York) I. Purposes of Estate Planning. II. A. Providing for the distribution and management of your assets after your death.

More information

Structuring Covenants in Leveraged Loans and High Yield Bonds for Borrowers and Lenders

Structuring Covenants in Leveraged Loans and High Yield Bonds for Borrowers and Lenders Presenting a live 90-minute webinar with interactive Q&A Structuring Covenants in Leveraged Loans and High Yield Bonds for Borrowers and Lenders Analyzing Financial and Performance Covenants, Equity Cures,

More information

Tax Relief, Unemployment Insurance Re- Authorization and Job Creation Act of 2010 Generation Skipping Transfer-Tax Issues Estate and Gift Tax Planning

Tax Relief, Unemployment Insurance Re- Authorization and Job Creation Act of 2010 Generation Skipping Transfer-Tax Issues Estate and Gift Tax Planning Tax Relief, Unemployment Insurance Re- Authorization and Job Creation Act of 2010 Generation Skipping Transfer-Tax Issues Estate and Gift Tax Planning Robert A. DeVellis, Esq. Blair & Potts, PC 281 Tresser

More information

A case for 529 plans. Save for college as part of your broader financial plan INHERIT THE THINKING OF J.P. MORGAN

A case for 529 plans. Save for college as part of your broader financial plan INHERIT THE THINKING OF J.P. MORGAN A case for 529 plans Save for college as part of your broader financial plan INHERIT THE THINKING OF J.P. MORGAN INVESTMENTS ARE NOT FDIC INSURED, MAY LOSE VALUE AND ARE NOT BANK GUARANTEED. 0 NEW YORK

More information

The Revocable Trust in Florida

The Revocable Trust in Florida The Revocable Trust in Florida This pamphlet published as a public service for consumers by The Florida Bar 1 2 The revocable, or living, trust is often promoted as a means of avoiding probate and saving

More information

Leveraging wealth transfer using private financing

Leveraging wealth transfer using private financing Private Financing Strategy Leveraging wealth transfer using private financing Not a bank or credit union deposit or obligation Not insured by any federal government agency Not FDIC or NCUA/NCUSIF insured

More information

529 College Savings Plan

529 College Savings Plan 529 College Savings Plan MI 529 Advisor Plan Wealth Management Strategies: A Tax-Advantaged Way to Save and Invest for College NOTICE: MI 529 Advisor Plan accounts are not insured by any state, and neither

More information

Sales Strategy Sale to a Grantor Trust (SAGT)

Sales Strategy Sale to a Grantor Trust (SAGT) Estate planners have been using the Irrevocable Life Insurance Trust (ILIT) for many years, to increase wealth and liquidity outside the taxable estate. 1 However, transfers to ILITs One effective technique

More information

VA Benefits and Medicaid Eligibility Meeting Complex Requirements for Benefits Qualification and Application

VA Benefits and Medicaid Eligibility Meeting Complex Requirements for Benefits Qualification and Application Presenting a live 90 minute webinar with interactive Q&A VA Benefits and Medicaid Eligibility Meeting Complex Requirements for Benefits Qualification and Application WEDNESDAY, JANUARY 30, 2013 1pm Eastern

More information

Sales Strategy Estate Planning for Non-Citizens in the United States

Sales Strategy Estate Planning for Non-Citizens in the United States Sales Strategy Estate Planning for Non-Citizens in the United States SINGLE LIFE SPOUSAL ACCESS TRUST: A LIFE INSURANCE ALTERNATIVE As large numbers of people from other countries settle in the United

More information

Final Affairs: (Estate) Planning is a Good Thing

Final Affairs: (Estate) Planning is a Good Thing Final Affairs: (Estate) Planning is a Good Thing Senior Ministries of the Episcopal Diocese of Newark St. Luke s Episcopal Church Montclair, NJ March 14, 2015 Lance T. Eisenberg, Esq. Berkowitz, Lichtstein,

More information

Medical Expert Depositions in Workers' Comp Cases

Medical Expert Depositions in Workers' Comp Cases Presenting a live 90-minute webinar with interactive Q&A Medical Expert Depositions in Workers' Comp Cases Effective Techniques for Deposing Experts and Raising Strategic Objections TUESDAY, MARCH 11,

More information

USING A 529 PLAN TO PAY FOR COLLEGE

USING A 529 PLAN TO PAY FOR COLLEGE USING A 529 PLAN TO PAY FOR COLLEGE Through tax-free growth, 529s can help you save more money faster, making it a vehicle of choice when saving for higher education. USING A 529 PLAN TO PAY FOR COLLEGE

More information

Minimum Distributions & Beneficiary Designations: Planning Opportunities

Minimum Distributions & Beneficiary Designations: Planning Opportunities 28 $ $ $ RETIREMENT PLANS The rules regarding distributions and designated beneficiaries are complex, but there are strategies that will help minimize income and estate taxes. Minimum Distributions & Beneficiary

More information

Wealth Transfer Planning in a Low Interest Rate Environment

Wealth Transfer Planning in a Low Interest Rate Environment Wealth Transfer Planning in a Low Interest Rate Environment MLINY0508088997 1 of 44 Did You Know 1/3 of affluent households over the age of 50 do not have an estate plan in place 31% of households with

More information

Bypass Trust (also called B Trust or Credit Shelter Trust)

Bypass Trust (also called B Trust or Credit Shelter Trust) Davis & Graves CPA LLP Jerry Davis, CPA/PFS 700 N Main Gresham, OR 97009 503-665-0173 jerryd@davisgraves.com www.jjdcpa.com Bypass Trust (also called B Trust or Credit Shelter Trust) Page 1 of 9, see disclaimer

More information

HERMENZE & MARCANTONIO LLC ADVANCED ESTATE PLANNING TECHNIQUES - 2015

HERMENZE & MARCANTONIO LLC ADVANCED ESTATE PLANNING TECHNIQUES - 2015 HERMENZE & MARCANTONIO LLC ADVANCED ESTATE PLANNING TECHNIQUES - 2015 I. Overview of federal, Connecticut, and New York estate and gift taxes. A. Federal 1. 40% tax rate. 2. Unlimited estate and gift tax

More information

32 Types of Trusts. What Types of Trusts Do You Need. How Trusts are Taxed for Estate, Gift and Income Tax Purposes

32 Types of Trusts. What Types of Trusts Do You Need. How Trusts are Taxed for Estate, Gift and Income Tax Purposes 32 Types of Trusts What Types of Trusts Do You Need How Trusts are Taxed for Estate, Gift and Income Tax Purposes Kenneth R. Cohen, Esq. Davidson, Sochor, Ragsdale & Cohen, LLC 611 River Drive, Elmwood

More information

Modern Estate Planning Made Easy

Modern Estate Planning Made Easy Modern Estate Planning Made Easy Presented March 9, 2011 By Mark J. Bradley Ruder Ware 800-477-8050 mbradley@ruderware.com Ruder, Ware, L.L.S.C. 500 First Street, Suite 8000 P.O. Box 8050 Wausau, WI 54402-8050

More information

Understanding Irrevocable Life Insurance Trusts

Understanding Irrevocable Life Insurance Trusts Understanding Irrevocable Life Insurance Trusts Understanding Irrevocable Life Insurance Trusts DISCUSSION TOPICS What is an Irrevocable Life Insurance Trust? How Does an Irrevocable Life Insurance Trust

More information

Topic: Washington Report 13-08 : Best Practices in Insurance Trust Administration are Critical to Preserve Planning Benefits.

Topic: Washington Report 13-08 : Best Practices in Insurance Trust Administration are Critical to Preserve Planning Benefits. The trusted source of actionable technical and marketplace knowledge for AALU members - the nation s most advanced life insurance professionals. The AALU Washington Report is published by AALUniversity,

More information

The Legal Side of Estate & Succession Planning Peter B. Scott, Attorney Coan, Payton & Payne, LLC

The Legal Side of Estate & Succession Planning Peter B. Scott, Attorney Coan, Payton & Payne, LLC The Legal Side of Estate & Succession Planning Peter B. Scott, Attorney Coan, Payton & Payne, LLC Speaker Introduction Peter B. Scott, Attorney, Coan, Payton & Payne, LLC Greeley, CO Estate planning and

More information

Advanced Markets Combining Estate Planning Techniques A Powerful Strategy

Advanced Markets Combining Estate Planning Techniques A Powerful Strategy Life insurance can help meet many wealth transfer goals. The death benefit could cover estate taxes, for instance, avoiding liquidation of much of the estate to meet the estate tax bill. Even though a

More information

ABA WEALTH MANAGEMENT AND TRUST

ABA WEALTH MANAGEMENT AND TRUST ABA WEALTH MANAGEMENT AND TRUST A $10.00 shipping, recordkeeping and administrative fee will be added to all self-paced enrollments. Course Name Tuition Trust Fundamentals Introduction to Estate Planning

More information

IN THIS ISSUE: March, 2011 j Planning with the $5 Million Gift Tax Exemption

IN THIS ISSUE: March, 2011 j Planning with the $5 Million Gift Tax Exemption IN THIS ISSUE: Federal Gift, Estate and GST Exemptions and Tax Rates New York State Gift & Estate Tax March, 2011 j Planning with the $5 Million Gift Tax Exemption By: Louis W. Pierro, Esq., Philip A.

More information

Estate Planning. Some common tools used to help meet those particular needs include:

Estate Planning. Some common tools used to help meet those particular needs include: Estate Planning The Importance of Having an Estate Plan Having an estate plan is one of the most important things you can do for your family. It's not just about planning for estate taxes; it's about developing

More information

DC College Savings Plan Helping Children Reach a Higher Potential

DC College Savings Plan Helping Children Reach a Higher Potential 529 DC College Savings Plan Helping Children Reach a Higher Potential For Dealer and Financial Advisor Use Only. Not to be Distributed to the General Public. OVERVIEW The DC College Savings Plan is a Section

More information

CLIENT INSTRUCTIONS FOR IRREVOCABLE LIFE INSURANCE TRUSTS, ANNUAL EXCLUSION GIFTS & ADMINISTRATION

CLIENT INSTRUCTIONS FOR IRREVOCABLE LIFE INSURANCE TRUSTS, ANNUAL EXCLUSION GIFTS & ADMINISTRATION CLIENT INSTRUCTIONS FOR IRREVOCABLE LIFE INSURANCE TRUSTS, ANNUAL EXCLUSION GIFTS & ADMINISTRATION In General Life insurance ownership through an Irrevocable Life Insurance Trust ( ILIT ) can remove the

More information

SCINS and Private Annuities: Using Bet-to-Die Estate Planning Techniques

SCINS and Private Annuities: Using Bet-to-Die Estate Planning Techniques SCINS and Private Annuities: Using Bet-to-Die Estate Planning Techniques Wednesday, November 20, 2014 OUR EXPERTS: Robert S. Keebler Keebler & Associates, LLP, Green Bay, WI Steven J. Oshins Oshins & Associates,

More information

Robert J. Ross 1622 W. Colonial Parkway, Suite 201 (847) 358-5757 Inverness, Illinois 60067 Fax (847) 358-7088 Bob@RobertJRoss.com

Robert J. Ross 1622 W. Colonial Parkway, Suite 201 (847) 358-5757 Inverness, Illinois 60067 Fax (847) 358-7088 Bob@RobertJRoss.com Law Offices of Robert J. Ross 1622 W. Colonial Parkway, Suite 201 (847) 358-5757 Inverness, Illinois 60067 Fax (847) 358-7088 Bob@RobertJRoss.com ESTATE PLANNING Estate planning is more than simply signing

More information

Estates & Trusts. Rules. Release No. 13. Basic Wills. Durable. for Estates Irrevocable. Trusts Charitable. Trusts

Estates & Trusts. Rules. Release No. 13. Basic Wills. Durable. for Estates Irrevocable. Trusts Charitable. Trusts Durable Trusts Charitable Estates & Trusts Basic Wills for Estates Irrevocable Release No. 13 Statutes & LLCs & Rules Trusts ESTATES & TRUSTS FORMS MANUAL By Stanley Hagendorf and Wayne Hagendorf About

More information

Planning for the Home

Planning for the Home Planning for the Home What to Do With the Old One Wednesday, March 19, 2008 1:00 2:30 PM Eastern Emanuel J. Kallina, II, JD, LLM Kallina & Associates, LLC 1122 Kenilworth Drive, Suite 507 Towson, MD 21204

More information

NEW IRS RULING VALIDATES THE IRA INHERITANCE TRUST BY ROBERT S. KEEBLER, CPA

NEW IRS RULING VALIDATES THE IRA INHERITANCE TRUST BY ROBERT S. KEEBLER, CPA NEW IRS RULING VALIDATES THE IRA INHERITANCE TRUST BY ROBERT S. KEEBLER, CPA Why Name a Stand Alone Trust as an IRA Beneficiary? In the world of estate planning, one of the more complex technical areas

More information

The New Era of Wealth Transfer Planning #1. American Taxpayer Relief Act Boosts Life Insurance. For agent use only. Not for public distribution.

The New Era of Wealth Transfer Planning #1. American Taxpayer Relief Act Boosts Life Insurance. For agent use only. Not for public distribution. The New Era of Wealth Transfer Planning #1 American Taxpayer Relief Act Boosts Life Insurance For agent use only. Not for public distribution. In January 2013 Congress stepped back from the fiscal cliff

More information

Effective Planning with Life Insurance

Effective Planning with Life Insurance Effective Planning with Life Insurance The Tax Considerations... Ken Knox, CLU, ChFC Regional Director The Penn Mutual Life Insurance Company 1304529TM_Sept17 Retirement Planning Case Scenario #1... Client

More information

Benefits Of An Irrevocable Life Insurance Trust

Benefits Of An Irrevocable Life Insurance Trust 1 Benefits Of An Irrevocable Life Insurance Trust CHAPTER OVERVIEW Life insurance is the only asset that Congress has bestowed with most favored tax status. 1 No other investment provides the potential

More information

GIFTS: THE KEY TO ESTATE TAX SAVINGS

GIFTS: THE KEY TO ESTATE TAX SAVINGS GIFTS: THE KEY TO ESTATE TAX SAVINGS THE LAW FIRM OF ELLEN M. WINKLER 58 Atlantic Avenue Marblehead, MA 01945 Tel. 781-631-6404 Fax 781-631-7338 www.emwinklerlaw.com Estate taxes can take a significant

More information

PROFESSIONAL TAX & ESTATE PLANNING NOTES. Charitable Lead Trusts ISSUES IN THIS SERIES

PROFESSIONAL TAX & ESTATE PLANNING NOTES. Charitable Lead Trusts ISSUES IN THIS SERIES PROFESSIONAL TAX & ESTATE PLANNING NOTES 3 Charitable Lead Trusts October 2008 1 2 3 If you know of a colleague who would like to receive complimentary copies of Professional Notes, or if you wish to obtain

More information

COLLAPSING LIFE INSURANCE TRUSTS WHEN THEY ARE NO LONGER NEEDED

COLLAPSING LIFE INSURANCE TRUSTS WHEN THEY ARE NO LONGER NEEDED COLLAPSING LIFE INSURANCE TRUSTS WHEN THEY ARE NO LONGER NEEDED The client who is enamored initially with saving estate taxes on the proceeds of a life insurance policy by placing it in an irrevocable

More information

Estate Planning Strategies in a Low-Interest Rate Environment

Estate Planning Strategies in a Low-Interest Rate Environment Estate Planning Strategies in a Low-Interest Rate Environment In this current low interest rate environment, there are some very effective estate planning strategies for transferring substantial assets

More information

PART II GRANTOR RETAINED ANNUITY TRUST (GRAT)

PART II GRANTOR RETAINED ANNUITY TRUST (GRAT) PART II GRANTOR RETAINED ANNUITY TRUST (GRAT) By Leo J. Cushing, Esq., CPA, LLM Cushing & Dolan, P.C. Attorneys at Law 375 Totten Pond Road, Suite 200 Waltham, MA 02451 I. DESCRIPTION OF TECHNIQUE Donor

More information

SELECTING A DEATH BENEFICIARY FOR QUALIFIED PLAN BENEFITS CREATIVE FUNDING OF CREDIT SHELTER TRUSTS IN THE CONTEXT OF RETIREMENT BENEFITS

SELECTING A DEATH BENEFICIARY FOR QUALIFIED PLAN BENEFITS CREATIVE FUNDING OF CREDIT SHELTER TRUSTS IN THE CONTEXT OF RETIREMENT BENEFITS SELECTING A DEATH BENEFICIARY FOR QUALIFIED PLAN BENEFITS CREATIVE FUNDING OF CREDIT SHELTER TRUSTS IN THE CONTEXT OF RETIREMENT BENEFITS 2004 Julius H. Giarmarco, Esq. Prepared By: Julius H. Giarmarco,

More information

Continuing Education for CPAs

Continuing Education for CPAs UFS Making Sense of the Tax Rules Affecting Annuity Contracts L0712267374(exp0713)(all states) Metropolitan Life Insurance Company, New York, NY 10166. New England Financial is the registered mark for

More information

RETIREMENT PLANNING FOR THE SMALL BUSINESS

RETIREMENT PLANNING FOR THE SMALL BUSINESS RETIREMENT PLANNING FOR THE SMALL BUSINESS PI-1157595 v1 0950000-0102 II. INCOME AND TRANSFER TAX CONSIDERATIONS A. During Participant s Lifetime 1. Prior to Distribution Income tax on earnings on plan

More information