Business entity selection after the TCJA: Post-death considerations
This discussion considers some of the key differences that affect post-mortem planning when looking at entity selection.
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.
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.
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.
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.
Common Mistakes in Life Insurance Arrangements
Familiarity with life insurance will elevate a practitioner’s service from being compliance-oriented to being consultative.
Taking Control of the Final Form 1040
Follow these tips for using the final tax return for tax planning post-mortem.
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.
Gift and Estate Tax Planning Considerations
With thoughtful planning, taxpayers can minimize gift and estate taxes while retaining some control of transferred assets by establishing trusts or limited partnerships and using the annual gift tax exclusion.
Advising Nonresidents and Recent U.S. Residents on Estate Tax Issues
Understanding the intricacies of residency and domicile is necessary to understand what will be included in a decedent’s estate for U.S. estate tax purposes.
Formula Marital Deduction Clause Not a Guaranteed Estate Tax Shelter
The Turner cases highlight the importance of properly transferring FLP interests during life in a way that avoids the trap of creating an estate tax when the decedent planned to have none.
Recent Developments in Estate Planning: Part II
This article covers recent developments in estate tax, including the portability election, proposed regs. on the alternate valuation date, FLPs.
Lifetime Tax Planning for LLC Owners
Several steps can be taken before a LLC member’s death to reduce estate and income taxes and to plan for an orderly succession.
Estate Planning for International Clients
It is essential for clients with multiple citizenship or residency to understand that the timing and manner of cross-border wealth transfers fundamentally affect their ability to minimize tax burdens.
The 10 Most Powerful Postmortem Planning Pointers for Trusts and Estates
Taking control of the postmortem planning process can be a powerful way to save tax dollars for the decedent’s estate and family.
Generations of Wealth in Marcellus Shale
Many in the Marcellus shale areas are being faced with difficult financial decisions due to the newfound wealth associated with the sudden interest in the Marcellus formation.
Estate Tax Planning for a U.S. Citizen with a Noncitizen Spouse
Under current U.S. tax law, a U.S. citizen may transfer property to his or her U.S. citizen spouse without any tax consequence or limitation. However, a U.S. citizen married to a noncitizen can make only a limited amount of bequests to his or her spouse.
