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1. Estate Planning in Uncertain Times
The definitive guide to advanced estate planning in uncertain times.
2. The Transfer for Value Tax Trap
As a general principle, the proceeds of a life insurance policy paid by reason of the insured`s death are exempt from federal income tax. The transfer for value rule is an exception to this general principle and is discussed in this article.
3. High Net Worth Clients: How to Find Them, How to Service Them
Here, as always, knowledge is power. For prospecting HNWs, the first thing to know is where and how to find them, so that is where we begin. However, once you`ve found them the key thing is to know their psychology.
4. Failure to Use Inside Procedure Spoils 1035 Exchange
The transaction was not characterized as a 1035 exchange because there was no direct exchange or assignment of the original contract.
5. Book Review - A Practical Guide to Estate Planning For a Family with a Special Needs Child
The book covers key tax and non-tax issues involved in special needs planning, and always with an eye to practice points and useful checklists.
6. The 2009 Top 40
Just what the title says.
7. Estate Tax Chaos
Most commentators thought that Congress would act in 2009 to enact permanent estate tax reform before the repeal took effect. But that did not happen.
8. Notice 2010-06 Offers Guidance on Correcting Document Failures Under Section 409A
Companies should review all of their nonqualified deferred compensation plans to identify documentary failures and then correct them in accordance with Notice 2010-06.
9. The Estate Planning Process
The disposition of many of a clients assets at death will be directed not by the clients will or revocable trust agreement but by beneficiary designations.
10. Do not Overlook NUA Tax Break on Lump Sum Distributions of Employer Stock
Upon receipt of a lump sum distribution a tax break may be available to the plan participant when the distribution includes appreciated stock of the employer.
11. Lapse of the Estate and GST Taxes in 2010
What planning steps should clients consider in early 2010, when there is the possibility of having no estate or GST tax system in place?
12. Professional Alliances
Alliances with other professionals can bring rich rewards, but can be difficult to acquire or maintain. The methods presented in this article, centered on client service, should make both of these tasks easier.
13. The Will Approach
The will approach is based upon one of two major assumptions. At the time of the interview, either the prospect has a will or doesn`t - there`s no middle ground.
14. Do Not Pitch
HNWs have been hit on so often that their first reaction to any financial advisor is mistrust. Your mission is to overcome that mistrust. How do you do it?
15. Liberalized IRA to Roth IRA Conversion Rules in 2010
Certain high income clients who have not previously made deductible IRA contributions ought consider opening a traditional IRA this year and contributing the largest allowable nondeductible contribution they can manage.
16. U.S. Estate and Gift Tax Consequences for Non-U.S. Citizens
A decedent who at the time of death was not a resident or citizen of the United States, may nonetheless be subject to U.S. estate tax if at the time of death he or she owned property in the United States.
17. Two Tax Doctrines: Constructive Receipt and Economic Benefit
The constructive receipt and economic benefit doctrines have an important bearing on non-qualified deferred compensation arrangements.
18. Fully Insured Plans
A fully insured plan is a defined benefit plan that is fully funded by life insurance, annuities, or a combination of both.
19. IRS Issues Three Revenue Rulings and Four Notices Affecting Retirement Plans
The technical guidance expands the choices available to plan participants.
20. HSA Employer Comparable Contributions
This article discusses the latest set of final comparability regulations regarding health savings accounts (HSAs). These regulations apply to employers making comparable contributions not through a cafeteria plan.
21. Coordinating Retirement Accounts with Estate Planning
A substantial portion of the wealth possessed by Americans today consists of IRAs, 401(k)s and 403(b)s. This article covers all the distribution rules and all aspects of trusts as beneficiaries of tax deferred retirement accounts including sample forms.
22. Trust Owned Annuities and the Non-Natural Person Rule
Ownership of annuity contracts by trusts, is in many circumstances, a useful form of investment to meet the future needs of the trust beneficiaries. But what about the non-natural person rule?
23. Notice 2009-48 Provides Guidance on §101(j) EOLI Rules
The most important planning element that emerges from §101(j) is the need to obtain the consent of the insured party prior to the issuance of an EOLI policy.
24. Expiration of Policy Subject to Loan Triggered Taxable Income
Not only may cash values accumulate without current taxation, but this untaxed income may even be utilized by the policy owner, still without income recognition, in the form of policy loans. But what happens if the policy is terminated?
25. New Section 7520 Valuation Tables
The new valuation tables are generally effective for valuation dates after April 2009.
26. Don`t Overlook Beneficiary Designations and Settlement Options
Advisers do not always give as much attention as stellar service requires to ensuring that the client`s intentions for the disposition of the insurance estate are fully effected.
27. GST Tax Planning: The Key Question to Ask a Middle Generation Prospect
A middle-generation prospect who already has accumulated a substantial estate is among the most desirable of clients. But how do you find and market to this audience in these days of uncertainty over the estate tax, among so many other things?
28. Saving for College: State-Run Plans vs. Effective Estate Planning
For wealthier and more sophisticated investors 529 Plans may not be the best option to financially prepare for college.
29. Possible Tax Trap when Trustee of ILIT Disclaims Responsibility for Selection of Insurance Product
Despite the demise of the constructive transfer theory, it is still possible for the IRS to resume its attacks upon policies acquired by third parties within three years of the insured`s death on an alternative theory: agency.
30. What Split-interest Strategies Make Sense in a Low Interest Rate Economy?
The tables in this Current Comment provide some quick answers.
31. Rollovers of IRAs to Qualified Plans: An Overlooked Source of Planning Possibilities
Rollovers have been permitted from an IRA into a qualified plan since 2001. This rule liberalized employees ability to move funds from one kind of tax-favored account to another. Less noticed are the useful planning opportunities.