Looking for a stimulus package for your estate plan?

The current economic woes present an extraordinary estate planning opportunity: low interest rates combined with depressed stock and real estate prices make it an ideal time to transfer wealth to children and grandchildren. This article discusses the benefits of gifting and using grantor retained annuity trusts.
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Know the basics of basis

To transfer wealth in the most cost-effective manner, it’s important to understand how an asset’s income tax basis affects an estate plan. The basis a beneficiary receives in an asset depends on how a person transfers it, and this can have a large impact on the recipient’s income tax bill. This article explains what basis is and how it affects estate planning.
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A matter of principle — A principle trust can help achieve your estate planning goals

For many, an important estate planning goal is to encourage their children or other heirs to lead responsible, productive lives. A tool for achieving this goal is a principle trust. This trust type guides the trustee’s decisions by setting forth the principles and values a person hopes to instill in his or her beneficiaries. This article details principle trusts.
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Estate Planning Pitfall — You haven’t planned for GST tax traps

The federal generation-skipping transfer (GST) tax is a flat tax, in addition to the estate tax, imposed at the highest marginal estate tax rate. It applies to certain transfers to “skip persons,” which include grandchildren and other family members who are two or more generations below the transferor. The GST tax applies to direct gifts to skip persons as well as to certain trust distributions. This short article explains GST tax traps to avoid.
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Upcoming Tax Deadlines

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