A Lawyer's Guide to Estate Planning

Name: A Lawyer's Guide to Estate Planning | Fundamentals for the Legal Practitioner, Fourth Edition
Brand: American Bar Association
Price: 87.99 EUR
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Fundamentals for the Legal Practitioner, Fourth Edition

Lara Rae Hunt III Leon Rushing Hunt(Autor*in)

American Bar Association (Verlag)

Erschienen am 7. Mai 2019

304 Seiten

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978-1-64105-029-6 (ISBN)

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Inhalt

Intro
Title Page
Copyright
Contents
Preface
About the Authors
Acknowledgments
1 Beginning the Process
1.1 Initial Client Contact
1.2 Initial Conference
1.21 Client's Side of the Desk
1.22 Lawyer's Side of the Desk
1.3 Formulating the Estate Plan
Appendix A
Family Questionnaire
Asset Questionnaire
Appendix B
Engagement Letter for Individual
Engagement Letter for Couple
Additional Terms and Conditions of Client Employment
Privacy Notice
Appendix C
Estate Tax Worksheet
Appendix D
Dispositive Checklist
Appendix E
Letter of Instructions
2 Estate Tax Overview
2.1 Introduction
2.2 Gross Estate
2.21 Gifts
2.22 Transfers with Control Retained by Decedent
2.23 Annuities and Retirement Benefits
2.24 Joint Interests
2.25 Powers of Appointment
2.26 Life Insurance
2.3 Adjusted Gross Estate
2.4 Taxable Estate
2.5 Net Estate Tax
2.6 Filing and Payment
Appendix A
Unified Transfer Tax Rate Schedule
3 Gift Tax Overview
3.1 Background
3.11 Gift Tax Overview
3.12 Advantages of Gift Giving
3.13 General Requirements
3.14 Special Considerations
3.141 Gifts of Services
3.142 Disclaimers
3.143 Assignment of Income
3.144 Delivery of the Gift
3.2 Annual Exclusion and Split Gifts
3.21 Annual Exclusion
3.22 Gift-Splitting
3.3 Income Tax Basis in Gift Property
3.4 Transfers Not Subject to Gift Tax
3.41 Marital Deduction
3.42 Charitable Deduction
3.43 Tuition and Medical Expenses
3.5 Gifts for the Benefit of Children
3.6 Special Situations
3.61 Net Gifts
3.62 Gift Subject to an Indebtedness
Appendix A
2018 Individual Income Tax Rate Schedules
APPENDIX B
2018 Income Tax Rate Schedules for Use by Estate and Nongrantor Trusts
4 Generation-Skipping Transfer Tax
4.1 Background
4.2 Overview
4.21 Skip Person
4.22 Transferor
4.23 Taxable Distribution
4.24 Taxable Termination
4.25 Direct Skip
4.3 Additional Cautions
4.31 Pot Trusts
4.32 Tax Apportionment Clauses
4.33 Disclaimer
4.34 Double Taxation
4.35 Portability
5 Trusts and Their Uses
5.1 Background
5.2 Types of Trusts
5.21 A-B Trust
5.22 QTIP Trust
5.23 Premarital Trust
5.24 Charitable Remainder Trusts
5.25 Special Needs Trust
5.26 Income-Only Trust
5.27 Crummey Trust
5.28 Disclaimer Trust
5.29 Generation-Skipping Trust
5.210 Living Trust
5.211 Minor's or 2503(c) Trust
5.212 Pot Trust
5.213 Spendthrift Trust
5.214 Standby Trust
6 Powers of Appointment
6.1 Background
6.2 Estate and Gift Tax Provisions
6.3 Effective Uses of Powers
6.31 Limited Power of Appointment
6.32 Power Limited to Ascertainable Standard
6.33 5 or 5 Power
6.4 Interpretation and Drafting Considerations
6.41 Miscellaneous Forms
7 Marital Deduction Planning
7.1 Background
7.2 Basic Requirements
7.21 Survived by a Spouse
7.22 Property Must Pass to Survivor
7.23 Includable in Gross Estate
7.24 Terminable Interest Rule
7.241 General Requirements
7.242 Exceptions
7.3 Marital Deduction and Portability
8 Life Insurance Planning
8.1 Basic Types of Life Insurance
8.11 Term Life Insurance
8.12 Whole Life Insurance
8.13 Universal Life Insurance
8.14 Variable Life Insurance
8.2 Taxation of Life Insurance Benefits
8.21 Benefits Received during Lifetime
8.22 Benefits Received following Death
8.3 Special Types of Life Insurance
8.31 Split-Dollar Insurance
8.32 Key-Man Insurance
8.33 Group Life Insurance
8.4 Life Insurance Trusts
8.41 Revocable Life Insurance Trusts
8.42 Irrevocable Life Insurance Trusts
Appendix A
Uniform Premiums for $1,000 of Group Term Life Insurance Protection
9 Charitable Giving
9.1 Background
9.2 Estate and Gift Tax Requirements
9.3 Income Tax Requirements
9.31 Cash and Ordinary Income Property
9.32 Long-Term Capital Gain Property
9.33 Tangible Personal Property
9.34 Future-Interest Property
9.35 Tax-Exempt Organizations
9.4 Special Types of Charitable Gifts
9.41 Remainder Interest in Farm or Personal Residence
9.42 Qualified Conservation Contributions
9.43 Gift Annuities
9.44 Gift of Undivided Interest
9.45 Pooled Income Fund
9.5 Charitable Remainder Trusts
9.6 Charitable Lead Trust
9.7 IRA Distribution
10 Business Buy-Sell Agreements
10.1 Background
10.2 Redemption and Cross-Purchase Agreements
10.21 General Considerations
10.22 Establishing the Sales Price
10.3 Specific Considerations
10.31 Insurance
10.32 Income Tax Basis
10.33 Dividend Problems with Redemption Agreements
10.331 General Considerations
10.332 Attribution Rules
10.34 AMT Problems with Redemption Agreements
10.35 Partnerships
11 Retirement Plans and Benefits
11.1 Background
11.2 Types of Retirement Plans
11.21 Pension Plans
11.22 Profit-Sharing Plans
11.23 Money-Purchase Plans
11.24 401(k) Plans
11.241 Simple 401(k) Plan
11.25 Self-Employed Persons
11.26 SEP
11.27 IRA
11.271 Roth IRA
11.272 SIMPLE IRA
11.3 Participation, Vesting, and Nondiscrimination
11.4 Top-Heavy Plans
11.5 Social Security Integration
11.6 Penalty Taxes
11.61 Premature Distributions
11.62 Minimum Distributions
11.7 Distributions
11.71 Distributions during Lifetime
11.72 Distributions at Death
12 Valuation of Assets
12.1 Background
12.2 Real Estate
12.21 Cost Method
12.22 Market Data Approach
12.23 Income Approach
12.24 Special-Use Valuation
12.3 Tangible Personal Property
12.4 Intangible Personal Property
12.41 Valuation of Closely Held Stock
12.411 Book-Value Approach
12.412 Capitalization-of-Income Approach
12.413 Discounts
12.414 Buy-Sell Agreements
13 Postmortem Estate Planning
13.1 Background
13.2 Qualified Disclaimers
13.3 Will and Estate Litigation
13.4 Considerations Affecting the Estate Taxes
13.41 Alternate Valuation Date
13.42 Section 303 Stock Redemption
13.43 Special-Use Valuation
13.44 Deferred Payment of Estate Taxes
13.5 Considerations Affecting Income Taxes
13.51 Medical Expenses
13.52 Series E and EE U.S. Savings Bonds
13.53 Selection of Estate's Tax Year
13.54 Filing Joint Returns
13.55 Administrative Expenses
13.56 Termination of the Estate
13.57 Waiver of Executor's Fee
14 Choosing Executors and Trustees
14.1 Choosing an Executor
14.2 Choosing a Trustee
14.3 Trustee Removal
14.4 Individual Trustees
14.41 Powers over Principal
14.42 Power to Discharge Trustee's Obligation of Support
14.43 Power to Sprinkle Income
14.44 Life Insurance on Trustee's Life
15 Sample Forms
15.1 Corporate Redemption Agreement
15.2 Stockholder Cross-Purchase Agreement
15.3 A-B Trust Planning Approach: Equalization of Estate between Husband and Wife
15.4 Marital Deduction Planning with Disclaimer Trust
15.5 Minor's or Educational Trust
15.6 Irrevocable Life Insurance Trust
15.7 Will, Trust, and Premarital Agreement
15.8 Special Needs Trust for Handicapped Child
15.9 Income-Only Trust
15.10 Charitable Remainder Trusts
15.11 Standby Trust
15.12 Living Trust
Index

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