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作者 Fishkind, Russell J
書名 Estate and Business Succession Planning : A Legal Guide to Wealth Transfer
出版項 New York : John Wiley & Sons, Incorporated, 2001
國際標準書號 9780471438069 (electronic bk.)
book jacket
版本 1st ed
說明 1 online resource (383 pages)
text txt rdacontent
computer c rdamedia
online resource cr rdacarrier
系列 J. K. Lasser Pro Ser. ; v.5
J. K. Lasser Pro Ser
附註 Estate & Business Succession Planning -- Contents -- Acknowledgments -- Introduction -- Chapter 1 The Heart of the Estate Plan -- Redefining Priorities -- What Is Estate Planning? -- What Is Business Succession Planning? -- Fact Gathering -- Designing and Implementing the Plan -- The Team of Advisers -- Capturing the Heart of the Plan -- Chapter 2 Your Last Will and Testament -- Twenty Factors to Consider in Preparing a Last Will and Testament -- Assembling the Team -- Change of Life Circumstances -- Creating the Structure of Your Last Will and Testament -- Executing the Will -- Choosing Fiduciaries -- Testamentary Age-Terminating Trusts for Minor Children -- Bequests to Friends and Grandchildren -- Passing of Real Estate -- Personal Property Memorandum -- Disinheriting a Spouse and/or Family Members -- Children from Prior Marriages -- Who Will Take Care of Your Pets? -- Funeral and Burial Arrangements -- Letter to One's Executor -- Chapter 3 Power of Attorney -- Durable Power of Attorney -- Springing Durable Power of Attorney -- Limited Power of Attorney -- Power of Attorney and Gifting -- Selecting an Attorney-in-Fact -- Possible Abuses -- Chapter 4 Advance Directive for Health Care-Your Living Will -- Ignoring Right-to-Die Orders -- Instruction Directives or Living Wills -- Proxy Directives -- Appointing a Health-Care Agent -- Formalities -- Conclusion -- Chapter 5 Utilization of the Exemption Equivalent and Annual Exclusion -- Exemption Equivalent Defined -- Applicable Credit and Exemption Equivalent During One's Lifetime (Inter Vivos) -- Applicable Credit and Exemption Equivalent upon Death -- Estate Equalization -- Annual Exclusion -- Gifting for Education and Health Care -- Choosing the Appropriate Assets to Gift -- Conclusion -- Chapter 6 Spousal Planning -- Outright Transfer -- Qualified Terminable Interest Property (QTIP) Trust
Estate Trust -- Qualified Domestic Trust (QDOT) -- Power of Appointment Trust -- Conclusion -- Chapter 7 Irrevocable Life Insurance Trusts -- Factors to Consider Before Creating an Irrevocable Life Insurance Trust -- The Three-Year Look-Back -- Incidents of Ownership -- Crummey Notices -- Hanging Powers -- Administration of the Life Insurance Trust -- Second-to-Die (Survivorship) Life Insurance Trust -- Provisions to Include in the Life Insurance Trust -- Irrevocable Trust versus Beneficiaries Owning the Life Insurance Policy -- Conclusion -- Chapter 8 Generation-Skipping Transfer Tax -- Direct Skips -- Taxable Terminations -- Taxable Distributions -- Predeceased Ancestor Exception -- Annual and Lifetime Exclusions from GST Tax -- Computation of GST Tax Liability -- Effective Use of the Lifetime Generation-Skipping Transfer Tax Exemption -- Practical Considerations -- Chapter 9 Transferring Wealth to Minors -- Introduction -- Uniform Gifts to Minors Act Account -- Trust Created Under Code Section 2503(c) -- Trust Created Under Code Section 2503(b) (Mandatory Income Trust) -- Crummey Trust -- Conclusion -- Chapter 10 Integrating Retirement Planning with Estate Planning -- Introduction -- Minimum Distribution Rules -- Death of the Plan Owner Prior to Required Beginning Date -- Estate Planning with Retirement Plan Assets -- Funding a QTIP Trust with Plan Assets -- Charitable Remainder Trust -- Conclusion -- Chapter 11 Charitable Planning -- Introduction -- Common Forms of Charitable Planning -- Qualifying Charities -- How Do You Determine the Amount of the Charitable Deduction? -- Conclusion -- Chapter 12 Supplemental Needs Trusts -- Safeguarding the Trust -- Medicaid -- Sources of Funding -- Choosing a Testamentary Trust -- Trustees -- Chapter 13 Qualified Personal Residence Trust -- The Savings You Can Expect -- The Drawbacks -- Personal Residences
Death of the Grantor Prior to the End of the QPRT Term -- During the QPRT Term -- The Expense Factor -- Sale, Destruction, or Damage of the Residence -- Post Survival of the QPRT Term -- Chapter 14 Integrating the Titling of Assets with the Intent of the Estate Plan -- Introduction -- Titling Faux Pas -- Jointly Held Property -- Tenants in Common -- Pay-on-Death Accounts -- Life Insurance -- Revocable Inter Vivos Trusts -- UGMA Accounts -- Life Insurance in Matrimonial Actions -- IRAs and Qualified Plans -- Conclusion -- Chapter 15 Business Succession Planning -- Introduction -- What Is Business Succession Planning? -- Who Is Responsible for Planning? -- Commitment and Execution Are Pivotal -- Seeking Professional Counsel -- Chapter 16 Start with a Business Valuation -- General Valuation Comments and Observations -- Estate and Gift Tax Implications -- Fundamental Factors of the Business Valuation -- Valuation Discounts -- Conclusion -- Chapter 17 Buy-Sell Agreements -- Introduction -- Use of a Buy-Sell Agreement upon the Death of a Shareholder -- Use of a Buy-Sell Agreement in Determining Price for the Stock of a Deceased Shareholder -- Acceptance of Price Determination Methods by the IRS -- Cross-Purchase versus Redemption Agreements -- Conclusion -- Chapter 18 Funding Buy-Sell Agreements -- Introduction -- Can Life Insurance Help? -- Disability Buyout Insurance -- Retirement -- Valuation Updates -- Chapter 19 Transference of Business Interests -- Factors to Be Considered Before Gifting Company Stock -- Enhanced Estate Liquidity -- Planning for Control of Family Business -- Loss of Step-Up in Basis -- Loss of Control over Property -- Methods of Transfer -- Conclusion -- Chapter 20 Family-Owned Business Exclusion -- Introduction -- Deduction Amount -- Initial Qualifying Rules -- The 50% Test -- Existence of Trade or Business -- Ownership Test
Qualified Heir Test -- Material Participation -- Recapture Rules -- Conclusion -- Chapter 21 Family Limited Partnerships -- Introduction -- Who Controls the Partnership? -- Discounting the Value of the Limited Partnership Interest -- Should You Form an Entity to Serve as the General Partner? -- Asset Protection -- Conclusion -- Chapter 22 Grantor Retained Annuity Trusts and Grantor Retained Unitrusts -- Introduction -- What Is a GRAT? -- What Is a GRUT? -- GRAT OR GRUT-Which One Should You Choose? -- Assets to Be Placed in the GRAT or GRUT -- Qualified Annuity Interests/Fixed Term -- Minimizing the Mortality Risk of a GRAT/GRUT -- Sale of the GRAT Remainder Interest to a Dynasty Trust -- Conclusion -- Chapter 23 Intentionally Defective Grantor Trusts -- Introduction -- The Major Benefit of an IDGT -- Implementation of an IDGT -- Drafting the IDGT Trust Agreement -- IDGT versus GRAT -- Conclusion -- Chapter 24 Split Dollar Life Insurance -- Introduction -- The Split Dollar Financing Arrangement -- Benefits of a Split Dollar Arrangement -- Tax Consequences -- Ownership of the Life Insurance Through an Irrevocable Life Insurance Trust -- Different Types of Split Dollar Arrangements -- Loans from the Cash Value in the Life Insurance Policy -- Private Split Dollar -- Conclusion -- Chapter 25 Self-Canceling Installment Notes and Private Annuities -- Introduction -- Selling Assets as an Estate Planning Tool -- Self-Canceling Installment Note -- Private Annuities -- Conclusion -- Chapter 26 Conclusion -- Introduction -- Fact Pattern #1 -- Fact Pattern #2 -- Fact Pattern #3 -- Fact Pattern #4 -- Fact Pattern #5 -- Conclusion -- Appendix A -- Appendix B -- Index
Written by two attorneys who specialize in estate planning, this book clarifies all the issues involved in planning an estate and transferring wealth. It offers comprehensive estate planning guidelines, including creating a will, designating power of attorney, trusts, and life insurance, and includes up-to-date estate and inheritance tax information
Description based on publisher supplied metadata and other sources
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2020. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries
鏈接 Print version: Fishkind, Russell J. Estate and Business Succession Planning : A Legal Guide to Wealth Transfer New York : John Wiley & Sons, Incorporated,c2001 9780471396802
主題 Estate planning -- United States.;Family-owned business enterprises -- Succession -- United States
Electronic books
Alt Author Kautz, Robert C
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