Volume 17 Issue 4 -- July/August 2013 What’s on the “A” List attached to your Revocable Living Trust (RLT)? Frequently RLTs have an attachment referred to as an “Asset” List or “A” List, which lists assets that have been, or should be, transferred to the RLT, such as real estate, closely held stock, security brokerage accounts, bank and savings accounts, and other assets of significant value.
July 1, 2013Volume 25 Issue 2 --March/April 2013 In many states, life estates in residences are a common estate planning tool.
March 1, 2013Volume 16 Issue 5 -- September/October 2012 Sam Savemoore saved more than most Army officers.
September 1, 2012Volume 24 Issue 1 -- January/February 2012 In the seemingly roulette-wheel like process that produces our ever changing estate tax laws, the 2010 Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act (the 2010 Act), created another option and possible source of confusion for executors and estate planners to gamble on — exclusion portability.
January 1, 2012Volume 23 Issue 6 -- November/December 2011 While most tax professionals are familiar with handling tax reporting for a typical revocable trust that is treated as a grantor trust for tax purposes, tax reporting for irrevocable grantor trusts can be more complicated.
November 1, 2011Volume 14 Issue 1 -- January/February 2010 In the last two issues we have been looking at some of the basic duties of a Trustee.
January 1, 2010Volume 13 Issue 6 -- November/December 2009 In the last issue we looked at the basic duty of a Trustee — to administer the Trust impartially.
November 1, 2009Volume 13 Issue 4 -- July/August 2009 Some law firms seem to operate, whether intentionally or not, in a manner that has the effect of generating two, or more, sets of legal fees for the estate of one person.
July 1, 2009Volume 13 Issue 1 -- January/February 2009 Remember the days of royalty and the old saying — the king’s debtor lies dying, the king shall be first paid? Now, in place of royalty we have governments but much the same rule applies.
January 1, 2009Volume 20 Issue 4 -- July/August 2008 Back in the 1940s, the Army football team had a “Mr.
July 1, 2008Volume 11 Issue 6 -- November/December 2007 The health of Ferdinand (hereafter, “Ferd”) is failing, after his reaching age 85.
November 1, 2007Volume 10 Issue 3 -- May/June 2006 One of the banes of professionals who do estate planning is the oft heard phrase “well, I have a Will, therefore I don’t need to do anything else.” As indicated by a number of the newsletters on our website, having a Will often is not the equivalent of thoughtful estate planning.
May 1, 2006Volume 18 Issue 1 -- January/February 2006 In the distress that usually accompanies the death of a business owner, there is often confusion about the roles and capacities of the survivors. It is easy for the business associates or the family survivors of a deceased owner to become confused about who does what to whom and for what reason.
January 1, 2006Volume 9 Issue 5 -- September/October 2005 In the last newsletter, we talked generally about the probate process and the duties of a Personal Representative (“PR”).
September 1, 2005Volume 9 Issue 4 -- July/August 2005 “Probate,” also sometimes called “estate administration,” is the legal term for the process of settling the affairs of a deceased person.
July 1, 2005Volume 9 Issue 1 -- January/February 2005 No, the title does not mean that you should have confidence in your Will. What the title refers to is Trust provisions contained in a Will. Let’s look first at the components of a Trust.
January 1, 2005Volume 8 Issue 4 -- July/August 2004 “I’m sure we all agree upon, and will remember, the important elements of this meeting and our understanding; therefore, there is no need to put pen to paper.” Surprisingly, there are people who have enough faith in the future to believe that an understanding, like the oral one above, will be carried through indefinitely and that the memories of those participating in the meeting will not fail or falter.
July 1, 2004Volume 7 Issue 6 -- November/December 2003 Here’s a quick refresher on Trusts. There are three parts to all Trusts.
November 1, 2003Volume 7 Issue 4 -- July/August 2003 Recently, in the companion newsletter, Tax & Business Insights, there was a discussion about business succession in families and small groups. Those newsletters prompted some useful input from a family business consultant named Rosamond Tompkins, here in Manassas .
July 1, 2003Volume 15 Issue 2 -- March/April 2003 In the past two issues we have looked at some ways that NEB, a business owner, could transfer his business to his son, STUD, a next-generation owner. This time, we will review one more method and then consider some general problems that commonly arise.
March 1, 2003Volume 15 Issue 1 -- January/February 2003 In Part I of this series, we discussed one way that a business owner (“NEB”) can bring his son (“STUD”) into his stucco business (“Studco”) by making gifts of stock to him. This time, we will look at some other ways NEB can transfer ownership and control of Studco to STUD.
January 1, 2003Volume 6 Issue 6 -- November/December 2002 It is not uncommon to find individuals who have decided to approach estate planning by putting real estate, often a home, in joint ownership, usually with a husband and wife, and an adult child or children. Is this a good idea?
November 9, 2002Volume 14 Issue 6 -- November/December 2002 This is the first in a series of three newsletters on “Small Business Succession” and bringing the younger generation into ownership. Because the subject matter is so broad, it is impossible to cover the basic concepts in one issue.
November 1, 2002Volume 6 Issue 5 -- September/October 2002 During the past 32 months, I have become a reluctant authority on Medical Directives; my knowledge being obtained during my mother’s long, and ultimately unsuccessful, bout with Parkinson=s Disease.
September 1, 2002Volume 6 Issue 3 -- May/June 2002 Recently, a client of mine passed away, and her relatives immediately called me and asked, "What do we need to do?" Their concerns and questions made me realize that a practical guideline to refer to during such a stressful time would be very useful.
May 1, 2002Volume 6 Issue 1 --January/February 2002 How do you handle yourself? I am not talking about dealing with your weight or other sensitive issues. I mean, how do you deal with business issues involving your work, real estate and other activities? Sometimes a different — or reconstructive — approach to handling your affairs and an ounce of planning can save a ton of money in taxes and avoid headaches.
January 1, 2002Volume 5 Issue 5 -- September/October 2001 With the advent of the new, bizarre Federal estate tax structure — discussed in the May/June 2001 issue, Don’t Die Yet — Wait Until 2010 — what is a person to do regarding estate planning?
September 1, 2001Volume 4 Issue 2 -- March/April 2000 The paper upon which many family business agreements are written is extremely thin.
March 1, 2000Volume 12 Issue 1 -- January/February 2000 On the death of an "S" corporation shareholder, the shareholder's estate or heirs will get a step-up in basis in the stock to the fair market value (FMV) of the stock as of the date of death.
January 1, 2000Volume 11 Issue 1-- January/February 1999 This is the last in a series of newsletters outlining practical approaches to answering your clients’ estate-planning questions, even if estate planning is not your forte.
January 1, 1999Volume 10 Issue 6-- November/December 1998 In our previous issue, we talked about what to do if you are not a whiz at estate planning and a client asks you to examine his Will and Trust.
November 1, 1998Volume 10 Issue 5-- September/October 1998 What do I do with these?
September 1, 1998Volume 2 Issue 4-- July/August 1998 Many family businesses evolve.
July 1, 1998Volume 10 Issue 2 -- March/April 1998 The final topic in our series of newsletters on business succession will, fittingly, be ruling from the grave. When planning for business succession, the first generation will, far too frequently, reflexively want the children or surviving spouse to assume control of the business.
March 1, 1998Volume 10 Issue 1 -- January/February 1998 Remember our last newsletter about the LONG TRIP TO TIBET?
March 1, 1998Volume 9 Issue 6 -- November/December 1997 What if I Never Returned?
November 1, 1997
