Estate Planning

The Basics

1. Do I need estate planning?

2. When should you review your estate planning?

Estate Taxes

1. Overview

2. What assets are included in the federal estate tax?

3. Are assets held in trust subject to the federal estate tax?

4. Is jointly owned property subject to the federal estate tax?

5. Is life insurance subject to the federal estate tax?

6. Is there an estate tax on property passing to a spouse?

7. What is the amount of property exempt from estate taxes?

Family Limited Partnerships

A Family Limited Partnership can allow you to keep control of your assets while at the same time gain substantial protection of these assets from creditors, avoid probate, reduce your taxable estate for estate tax purposes which reducing your overall income tax liability. It is somewhat complex and involves significant legal and tax planning.

1. Overview

2. What is a Family Limited Partnership

3. How is a Family Limited Partnership organized?

4. Does a Family Limited Partnership provide asset protection?

5. What are the advantages of Family Limited Partnership gift giving?

6. For what purposes can a Family Limited Partnership be set up?

Irrevocable Life Insurance Trusts

1. Overview

2. What is a "Crummey Power"?

3. From where did the name "Crummey" come?

4. Does the trust immediately protect the life insurance proceeds from estate taxes?

Gifts

1. Overview

2. How much can I give away without incurring a gift tax?

3. Can spouses use two gift tax exemptions if only one of them pays for the gift?

4. Who files the gift tax return?

5. If a name is added to a joint bank account, is that a taxable gift?

6. If gifts are made to a trust, how many exemptions are allowed?

How to Avoid Probate

1. Overview

2. What is probate and what does it involve?

3. What are probate assets?

4. What is a living trust?

5. What is the probate procedure for small estates?

Trusts

1. Overview

2. What is the difference between a testamentary trust and a living trust?

3. What is the difference between a living trust and an intervivos trust?

4. If I have a trust, do I need a will?

5. Does a trust protect my assets from creditors?

6. How do I avoid estate taxes?

7. What is a Qualified Domestic Trust?

8. What is a special needs trust?

9. What is a Qtip Trust

10. What is a charitable remainder trust?

11. Is it important to put assets into my trust during my lifetime?