Avoiding Short Term Capital Gains
In the last few weeks, more than one person has called asking for a brilliant way to not pay short term capital gains after a taxable event has already occurred. Sadly, there are not a lot of good...
View ArticleTax Free IRA
For years, I have been telling people a little known secret of IRA’s. There is a way you can pass the benefit of your IRA to your heirs tax free. Recently Bob Carlson in his newsletter recently...
View ArticleWhat is a Trust?
What is a Trust? Trust Definition: A Trust is a contract that controls property. A Trust has three parties. First, there is the party who creates the trust. This party is typically called a...
View ArticleCommunity Property Planning
Marital Property Issues Estate planning is necessarily multi-disciplinary. It touches upon many aspects of law. It affects taxation, property, family, and business concerns. Marital Property rights...
View ArticleS Corporations and Charities
S Corporations and Charities S corporations and charities lie at the cross roads of advanced estate planning. Most new wealth is generated through corporate structures. Most corporations are S...
View ArticleQualified Charitable Distributions Win Win
Can I make Qualified Charitable Distributions from my IRA? For years, the politicians have been permitting Qualified Charitable Distributions from IRA accounts for one year, letting them expire, and...
View ArticlePrince The Idiot Savant
The Prince is Dead. Long live . . . ? Prince is dead. He died on April 21, 2016, at age 57. He had no children and no Will. Musically, Prince was a genius. Whether or not you enjoy his art, he was...
View ArticleExpatriation Exit Tax
Expatriation – Giving Up Your U.S. Citizenship Is a Taxing Experience Multi-national planning can include deciding choosing where you will be a citizen. Sometimes the tax grass appears greener on the...
View ArticleLLC Taxed as an S Corporation
LLC Taxed as an S Corporation An LLC taxed as an S corporation is a powerful tool for managing control, expenses, cash flow, taxes, operations, personnel, and business succession. Although by default...
View ArticleSpousal Lifetime Access Trust
What is a Spousal Lifetime Access Trust (SLAT)? A SLAT is an Irrevocable Trust that: Provides specific support for a spouse for life Is excluded from the taxable estates of both spouses If everything...
View ArticleLLC – Legal Services
Limited Liability Company (LLC) With rare exceptions, when we form an LLC, we prepare complete documentation as needed for the LLC to operate, function, and carry out its intended purposes. Forming an...
View ArticleGentrification of Philanthropy
In general, “gentrification” happens when older more affluent people move into a neighborhood previously occupied by younger less affluent people. That same change in the neighborhood is happening in...
View ArticlePhilanthropy Protection Act of 1995
HR 2519 RDS 104th CONGRESS1st SessionH. R. 2519IN THE SENATE OF THE UNITED STATESNovember 29, 1995Received AN ACTTo facilitate contributions to charitable organizations by codifying certain exemptions...
View ArticleSplit Interest Gifts
Split Interest Gifts An asset or property can be divided up in many ways. We can divide if geographically by putting a fence down the middle. We can dividing it over time by renting or leasing it. A...
View ArticleSECURE Act Estate Plan Update
No More IRA Stretch From One Generation to the Next Some people think that their IRA actually belongs to them. It does not. It belongs in part to the government. The politicians created IRA plans....
View ArticleSPLIT DOLLAR TAX PLANNING: A RETIREMENT PLAN FOR KEY EMPLOYEES AND HIGH NET...
SPLIT DOLLAR TAX PLANNING What is a Split Dollar Plan? Employers offer a Split Dollar Plan as a death benefit to Key Employees as an incentive for them to stay on with the Company for a longer period...
View ArticleDeferred Sales Trust
A Deferred Sales Trust is a device to defer the taxable gain on the sale of appreciated real property or the like. Typically, when appreciated property is sold, the gain is taxable. The tax on this...
View ArticleIncidents of Ownership
Why are “Incidents of Ownership” Important? This is a question that frequently arises in estate planning, particularly regarding life insurance. The reason this question is important is this: if the...
View ArticleDomicile In Florida
No Tax States Clients frequently ask where they can move to reduce their local income tax. There are several states that have either very low or no income tax including as of this article Alaska,...
View ArticleIntentionally Defective Grantor Trust
What is an Intentionally Defective Grantor Trust? A Trust can be subject to multiple kinds of taxes, and can be taxed in different ways. To make sense of what an “Intentionally Defective Grantor...
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