This discussion considers some of the key differences
that affect post-mortem planning when looking at entity selection.
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Topics
Estate Planning
Split-dollar agreements and estate inclusions: Estate of Cahill
As a recent Tax Court case demonstrates, when dealing with property interests in certain cases, advisers must carefully consider whether Sec. 2036(a) can cause an estate inclusion of the property interests.
Top 5 things for clients to consider now that they are divorced
After a divorce is finalized, the client must consider some key questions: What can I afford? How do I make my cut of the pie last? Will I be able to retire?
Taxpayer can deduct settlement payment to ex-husband
The Eleventh Circuit holds a taxpayer is entitled to a deduction under Sec. 1341 for a payment made
to reimburse her ex-spouse for a portion of a settlement in an excess-compensation lawsuit.
Estate planning for the other 99%
The implications of the TJCA’s large increase in the estate and gift tax exemption are complex and affect estate planning for everyone, not just the small percentage of the population who will still file estate tax returns.
Estate planning for digital assets
A well-drafted estate plan should address the management and distribution of digital assets to mitigate additional administrative burdens on fiduciaries.
Using trusts to shift income to children
Use of a Sec. 2503(c) or minor’s trust allows for transfers of property (and income shifting) to children, while parents maintain control of the property at least until the child reaches age 21.
Missed opportunities in estate planning: Beyond wills and trusts
An estate plan is incomplete without a detailed list of instructions that explains how to carry it out.
Divorce post-TCJA: unexpected consequences
This article discusses changes that might affect clients that are divorced, are in the process of divorcing, or that have prenuptial or post-nuptial agreements.
Tax planning following the Tax Cuts and Jobs Act
This column discusses advising clients on the implications for choice-of-entity decisions, charitable
giving strategies, and estate, retirement, and higher education planning.
Divorce and taxes: Hidden traps and your map around them
CPAs are in a key position to assess tax implications
of property divisions and must consider professional responsibility standards if the ex-spouses both want
to remain clients.
The Illiquid Marital Estate: Navigating the Division of Marital Residences and Retirement Accounts
This item focuses on the pitfalls and potential opportunities to consider in the illiquid marital estate arena.
Form 8332 Challenges for Divorced Couples
When parents divorce without a meeting of the minds or a well-crafted agreement, issues can result as to who is entitled to the tax benefits from supporting their children.
Planning for Divorce-Related Stock Redemptions
A transfer of ownership of a closely held business in divorce does not trigger gain or loss if it is directly between the spouses.
Common Mistakes in Life Insurance Arrangements
Familiarity with life insurance will elevate a practitioner’s service from being compliance-oriented to being consultative.
Tax Considerations for Divorcing Spouses
During the divorce proceedings, it is critical for each taxpayer to work with a tax adviser to understand the estate, gift, and income tax consequences of the marriage dissolution.
Taking Control of the Final Form 1040
Follow these tips for using the final tax return for tax planning post-mortem.
Advising Clients in Later-Life Divorce
CPAs are in a unique position to have a profoundly positive influence on the financial consequences of Baby Boomer divorces.
Navigating Through Divorce: Top Five Financial Planning and Tax Considerations
Advisers must consider a number of issues when helping a client navigate through a divorce. Emotions are at their peak, but careful thought and planning must take place before the divorce agreement is finalized, to prevent future financial and legal headaches. This item discusses the five top issues that financial advisers and CPAs should consider throughout a client’s divorce negotiations.
CPAs’ Evolving Role as Estate Planners
Understanding the tax changes under ATRA alone does not prepare practitioners for how dramatically their role in the estate planning process has changed.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
