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Estate Planner

Here’s a glance at what you’ll find in the November/December 2005 edition of the Estate Planner...

Build a stronger ILIT
Protect assets from gift and estate taxes with an irrevocable life insurance trust
Some relief from federal gift and estate taxes is available in the forms of the $1 million gift tax exemption, the $1.5 million estate tax exemption and the $11,000 annual gift tax exclusion. But, for some, that might not provide enough cover. Thankfully, a properly structured irrevocable life insurance trust (ILIT) can shield transfers beyond those previously mentioned. This article identifies the vital building blocks of an ILIT.

Keeping private matters private
5 ways to structure your assets to avoid probate
In a nutshell, probate is a court-supervised process to protect the rights of creditors and beneficiaries and to ensure the orderly transfer of assets. But because probate can be time-consuming, expensive and public, most people probably will want to avoid having it be part of their estate plan. This article explains five strategies to avoid probate.

Is your IRA protected against creditors?
For many people, interests in retirement plans — including employer-sponsored plans, such as a 401(k), and IRAs — are among their largest assets. So the extent to which these plans are protected against creditors’ claims is critical to their family’s security. This article details the misconceptions about IRA protection and the expanded protection under the new bankruptcy law.

Estate planning red flag
Joint home ownership with a child
Many people consider adding their adult children to the title of their homes as joint tenants. This can be an appealing strategy because under the right of survivorship, a home automatically passes to the child after his or her parents die. But this strategy can result in some unintended consequences. This short article reviews the pitfalls.

To view/download a PDF of the Estate Planner, click on the links below:

Estate Planner November/December 2005

Estate Planner September/October 2005

Estate Planner July/August 2005

Estate Planner May/June 2005

Estate Planner - March/April 2005

Estate Planner - January/February 2005

Estate Planner - November/December 2004

Estate Planner - September/October 2004

The best way to use this guide is to identify those areas that may have the greatest effect on you or your business and discuss them with your tax or financial advisor. The information in this guide is not intended for use without personalized professional assistance. If you need to discuss any issues in this guide, please contact your tax or financial advisor.

Preplanning Necessities - Easements By: Susan H. Confair