This Alert examines how a tax-deferred annuity may not be the best solution for senior clients. It demonstrates how a single premium immediate annuity, or “SPIA” may be a better alternative for clients, especially if the client is in a lower tax bracket than the children who will inherit it. Often seniors invest in tax-deferred annuities as a safe, tax-deferred investment to pass on to their children. But many seniors are in relatively low income tax brackets. Often the annuity salesman does … [Read more...] about Annuity Maximization
Double Disclaimer Saves Millions in Estate and GST Tax
This month’s Alert examines how effective use of disclaimers can save millions in taxes. The Alert examines a ruling request presented to the IRS involving such a situation. Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Often parents do not consider the potential future success of their children in structuring their own estate plan. If a child is fortunate enough to have a taxable estate (over $5,120,000 currently, scheduled to drop to $1 … [Read more...] about Double Disclaimer Saves Millions in Estate and GST Tax
TRA 2010 Creates Opportunity for New Planning Strategy – The FlexTrust
The question of whether to fund a credit shelter trust has long been a central question in estate planning. With the new tax law and it’s temporarily increased exemption, the question is all the more relevant. This month’s alert discusses a new method of adding flexibility to your clients’ trust. The FlexTrust allows an independent Trust Advisor to decide whether and to what extent the credit shelter trust should be funded. With the passage of The Tax Relief, Unemployment Insurance … [Read more...] about TRA 2010 Creates Opportunity for New Planning Strategy – The FlexTrust
