J.K. Lasser's New Rules for Estate, Retirement, and Tax Planning

ISBN-13: 9781119559139 / Angielski / Miękka / 2019 / 352 str.

Stewart H. Welch; Harold I. Apolinsky; Craig M. Stephens

Spis treści

Acknowledgments xiIntroduction xv1 Tax Cuts and Jobs Act of 2017 1Ordinary Income Tax Rates 2Capital Gains Tax Rates and Qualified Dividends 2Educational Provisions 2Business and Corporate Tax Relief 5Estate, Gift, and Generation-Skipping Transfers 6Dangers of Relying on Portability 9Limitations on Deductions 112 Estate Planning 15What Is Estate Planning? 15The Benefits of Estate Planning 16The Nightmares of Poor Planning 18The Myths of Estate Planning 19Guidelines for Successful Estate Planning 203 The Estate Tax System 23Determining Your Estate Net Worth 23Your Estate Tax Picture 29Your Future Estate 33Overview of Estate-Planning Strategies 354 Investment Strategies for Maximizing Estate Growth 37Growth Strategy with a Safety Net(r) 38Prioritizing Your Investment Dollars 43Retirement Planning: Choosing the Best InvestmentEnvironments 43Roth Conversions 46Some Final Thoughts on Investing 535 Retirement Planning: Living Your Dream 55Your Retirement Requirements 56Best Retirement Strategies 61Reverse Mortgages 67Social Security Strategies 70Customizing Your Health Care Plan 756 You Don't Have a Will? Big Trouble! 79Property Transfers at Death 80Transfers via Probate 81Direct Transfers by Title 84Other Methods of Property Ownership 88Choosing the Best Methods of Ownership 90Setting Estate-Planning Goals 917 Where There's a Will, There's Your Way! 93What Is a Will? 93Types of Wills 93Advantages and Disadvantages of Wills 95Intelligent Decisions Concerning Your Will's Basic Provisions 97Executing Your Will 110Where to Store Your Will 111Other Important Documents 111Working with Your Attorney 115When to Review Your Estate Plan 1218 Using Trusts in Your Estate Plan 125The Credit Shelter Trust Will 126Disclaimers 131Marital Trusts 132Spendthrift Trust 136Standby Trust 137Other Trusts 1379 Understanding the Living Trust 139Advantages of Living Trusts 139Disadvantages of Living Trusts 141How a Living Trust Operates 142Transferring Property into Your Living Trust 145Types of Property Likely to Be Transferred 148Living Trust Myths 150Transacting Business with Your Trust 15210 Using Insurance in Your Estate Plan 153Life Insurance 153Using Life Insurance to Replace Income 156How Much Life Insurance Do You Need? 157What Type of Life Insurance Is Best for You? 160Insurance on a Homemaker 161Insurance on Adult Children 161How to Get the Best Deal on Term Life Insurance 161What Type of Life Insurance Is Best for Estate Liquidity? 164The Irrevocable Life Insurance Trust 166Getting Your Life Insurance into Your Trust 167Using Life Insurance to Leverage Your Estate 170About Your Cash Values 17311 Smart Strategies for Gifting Assets to Family Members 179The Annual Gift Tax Exclusion 179Unintended Gifts 181Filing a Gift Tax Return 182The Lifetime Applicable Exclusion Amount 182Outright Gifts 183When the Donee Is a Minor 185Other Tax-Free Gifts 194Family Gifts Utilizing Trusts 195Grantor Retained Annuity Trust 195Grantor Retained Unitrust 197Qualified Personal Residence Trust 197Taking Advantage of Generation-Skipping Transfers 201Sales to Family Members 204Loans to Family Members 207Sales to Intentionally Defective Grantor Trusts 208The Legacy Trust 20812 Strategic Planning with Charities 219Outright Gifts to Charities 220Testamentary Gifts to Charities 223Gifts Using Charitable Trusts 223Using Your Charitable Trust for Retirement Planning 227The Private Foundation 23013 Family Limited Partnerships 235General Structure of the Family Limited Partnership 235Family Limited Partnership Rules 24014 Succession Planning for the Family Business or Farm 249Special Estate Tax Benefits for Farmers and Closely Held BusinessOwners 251Valuing Your Business or Farm 253Succession or Sale? 253Succession Planning: Keeping the Family Business in the Family 254Maximizing Your Business's Value through a Sale 255Structuring Your Buy-Sell Agreement 256Types of Buy-Sell Agreements 257Funding the Buy-Sell Agreement 258One Final Strategy--The Employee Stock Ownership Plan 26015 Asset Protection Strategies 263The Concept of Fraudulent Transfers 263A Word about Jointly Held Property 267Retirement Plans 267Life Insurance 269Using Trusts to Protect Assets 270Using Limited Liability Entities to Protect Assets 271Use of Multiple Limited Liability Entities 274Foreign Asset Protection Trusts 275Domestic Asset Protection Trusts 27716 Personal Business Planning Issues 281Choosing the Right Entity for Your Business 281Closing Thoughts 293Importance of a Business Plan 295Epilogue--Dealing with Parents and Their Money 297Appendix A--Professional Advisers 299Appendix B--Estate Planning Terms 303Appendix C--IRS Life Expectancy Table 309About the Authors 313Index 315

O autorze

STEWART H. WELCH, III, AEP(r), CFP(r), is a nationally recognized, fee-only financial advisor. The author of six books, he is founder of The Welch Group, which manages in excess of $1 billion for a nationwide clientele.J. WINSTON BUSBY, ESQ, LLM, counsels clients on tax and estate planning. He is co-author of the New Rules for Estate, Retirement, and Tax Planning, Fifth Edition, and writes regularly on income and transfer tax planning.