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School funding daze:
educate yourself on combining college funding with estate
planning
Education
funding tools, such as Section 529 plans, Coverdell
Education Savings Accounts and direct payment of tuition,
can also help achieve estate planning goals. This article
explains the basics of each tax-advantaged option and
details how they can benefit an estate plan.
Full Article
Sharing the wealth —
Estate planning with business ownership interests
To
lessen the estate tax burden on the families of successful
business owners, the owners should consider reducing
the value of their estates by divesting themselves of
some of their business interests during their lifetimes.
This article explores ways owners can divest their business
interests.
Full Article
Liquidity issues? Consider
buying a second-to-die life insurance policy to pay
estate taxes
If
a married couple has a substantial estate but illiquid
assets, their executor may need additional funds to
pay the estate tax due on the surviving spouse¨ªs death.
Using a second-to-die life insurance policy to cover
the estate tax can be a powerful estate planning strategy.
This article explains second-to-die life insurance.
Full Article
Estate Planning Pitfall
— You don¨ªt take required minimum distributions
If
a person doesn¨ªt need his or her traditional IRA funds
to live on during retirement, he or she may be tempted
to avoid taking withdrawals and allow the funds to grow
to later pass on to his or her children. But after age
70 1/2, a person must take required minimum distributions
(RMDs) annually. If RMDs aren¨ªt taken, a person will
face a 50% penalty on the amount he or she should have
taken but didn¨ªt. This short article details why a better
strategy is to take the annual RMDs and make $12,000
annual exclusion gifts to the children.
Full Article
