Learn how the Republican blueprint for tax reform would impact different families from an estate planning perspective. Read on to learn more. … [Read more...] about How Tax Reform Could Impact Various Families
Legal Education
Basics of Estate Planning: Lack of Coordination
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Perhaps the most common mistake in estate planning is a lack of coordination. This is not where the client, attorney, or advisor cannot walk and chew gum at the same time. This is a failure to consider all the different aspects of a plan and how they may (or may not) work together. An … [Read more...] about Basics of Estate Planning: Lack of Coordination
Basics of Estate Planning: Getting the Most out of Charitable Gifts
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Often, an individual wants to make a gift to charity. They don’t want something complicated, but they want to get the most bang for their buck. Estate planning attorneys and other financial professionals know the client could just contribute cash to the charity. Certainly, that would be … [Read more...] about Basics of Estate Planning: Getting the Most out of Charitable Gifts
Law in the U.S. can be Participatory
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. In some countries, like a dictatorship or a true monarchy (not a constitutional monarchy such as the United Kingdom), people do not really participate in making the law. The law is handed down by fiat. In the United States, our laws are enacted by our elected representatives. Sometimes, those laws may be viewed as violating the fundamental rights guaranteed to all … [Read more...] about Law in the U.S. can be Participatory
Basics of Estate Planning: Two Common Mistakes with Trusts
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Trusts are incredibly useful tools. But, like other useful tools, they do not fit every circumstance. They must be used appropriately. For example, a hammer is an exceptional tool to use when looking to drive a nail into a wall. But, if you hit the nail with a glancing blow, the nail will … [Read more...] about Basics of Estate Planning: Two Common Mistakes with Trusts
QDRO: Not Just for Divorce Anymore
Transferring an ERISA account, like a 401(k), from one spouse to another can have substantial tax benefits, by delaying Required Minimum Distributions or avoiding early withdrawal penalties. However, one cannot simply transfer an account from one spouse to another under most circumstances without triggering adverse tax consequences. A Qualified Domestic Relations Order or “QDRO” avoids those adverse consequences. While a QDRO is most commonly used in a divorce context, divorce is not a … [Read more...] about QDRO: Not Just for Divorce Anymore
Tax Reform and the Estate Tax
There’s a Republican blueprint for tax reform. Learn the general provisions of the plan and the uncertainties in it. Read on to learn more. … [Read more...] about Tax Reform and the Estate Tax
