These reports, published by the American Academy of Estate Planning Attorneys, are published semi-regularly and cover a wide range of subjects specific to the estate planning arena. Click on a report title to read more or to order a complimentary copy.
A
Special Child Needs Special Planning
While planning for the care of a special needs child certainly tops the list
of emotionally-charged topics, the peace of mind parents gain from a well-designed
estate plan, more than compensates them for having to plan for the unthinkable.
Asset
Protection: Reducing Risk, Promoting Peace of Mind
Every American adult shares a dubious characteristic—each is
a walking litigation target. Part of your birthright is that you may be sued
at any time, for any reason, and for any amount.
Beware
of Living Trust Scare Tactics!
There is so much conflicting information regarding estate planning
options, it’s difficult to know whom to trust. Don't be fooled by the
most common myths that authorities have used to scare the public.
Estate
Planning with Individual Retirement Accounts (IRA's)
At first glance, the concept of an Individual Retirement Account (IRA) seems
simple enough: a structured way to save for your golden years while deferring
taxes on your growing nest egg. Unfortunately, that simple idea becomes one
of the most complex areas of estate planning once IRS rules are applied. That
means that not only must an estate planner consider estate tax reduction techniques,
but also the amazingly complicated income tax rules the IRS has issued in
its Proposed Regulations. Do not let the term "proposed" concern you. The
agency issued the Proposed Regulations in 1987 and has told taxpayers they
may rely on the rules until Final Regulations are issued. This report is intended
to provide general guidance on the income and estate tax considerations involved.
It is not intended as legal advice. Only an analysis of a client's particular
financial and family considerations provides a sufficient foundation for an
estate planner to make appropriate planning recommendations.
Getting
The Most Out of Your Life Insurance: The Irrevocable Life Insurance Trust
If you own life insurance, congratulations. Sadly, most of us put off this
critical element in our family's financial planning, which may have devastating
consequences on the loved ones left behind.
Living
Trusts: Calculating the Benefits
Chances are, you've already heard a lot about the attributes of Living Trusts:
avoiding probate and legal quagmires, sometimes lowering estate and/or income
taxes and protecting privacy. Yet it's also important to receive solid estate
planning guidance before making final decisions, and to carefully weigh the
benefits and potential drawbacks.
Protecting
Your Assets with the Family Limited Partnership
Are you worried about being sued? Well, you should be. It is reported that
there are 18 million lawsuits in the United States each year. However, that
isn't the whole story. Have you ever heard of the “deep pocket" syndrome?
The deep pocket syndrome means that the person claiming to have been harmed
files a suit against anyone even marginally connected with the incident.
The
Trouble with Joint Tenancy
Joint tenancy ownership of property is sometimes used as a substitute for
an effective estate plan. Is this a good idea? Read this article to find out.
To My Dog Lucky, I Leave $10,000
If you have a dog, cat or other pet, you know that the unconditional love
and affection our pets devote to us improve the quality of our lives in ways
nothing else can. This is why they deserve our respect and dedication even
after we pass away or become incapacitated. Unfortunately, if a pet owner
becomes unable to care for his or her pets they often end up living on the
street. Thousands of pets are orphaned every year in the United States. To
prevent your pets from adding to this sad statistic, you need to plan now
for their care in the future.
Trust
Administration: Prior Planning Prevents Problems
Trust Administration is the process people often find themselves in unexpectedly,
after the death of a spouse or parent who created the trust prior to passing
on. It comes during a very emotional time, and often brings with it difficult
and complex financial and family issues. The task of reviewing the trust and
finding and valuing the assets of a recently deceased family member can be
daunting, as can be the complexities of estate tax law. What is important
to remember for anyone administering a trust is that there is a definite process
to follow, and resources to assist you as you assume this new role.
What
Every Senior Should Know About Probate
For Seniors, the debate over Wills versus Probate holds special meaning, because
the vast majority of Probate cases revolve around the affairs of those Americans
ages 60 and over.
