There's been a big change to the estate and gift tax rules for 2018. We'll focus on the Louisiana components first, and then the federal components. The Louisiana aspects to gift and estate tax are pretty simple. Louisiana no longer has either a state gift tax, or a state estate tax. While Louisiana, at one point, assessed a state inheritance tax when Louisiana residents died, that Louisiana inheritance tax no longer exists. From a federal standpoint, the gift tax present interest annual exclusion increased from $14,000 to $15,000 in 2018. It gets adjusted every few years for inflation, but in $1,000 increments. The confusion comes in when people make gifts that in excess of the $15,000 present interest annual exclusion. Some people mistakenly believe that if a gift is made in excess of this amount, that someone owes tax. This belief is wrong. By making a gift in excess of $15,000 to someone in 2018, the person making the gift will simply be using some of their $11.2 million estate tax exemption - which they can use either during their lifetime or at their death. So, there will be no gift tax due (unless the gifted amounts exceed $11.2 million). People refer to the gift in excess of $15,000 as a "taxable gift." But that is a misnomer. I believe the gift in excess of $15,000 should be referred to as a "Reportable Gift," because in almost every instance, no tax is due by anyone. The federal exemption for 2018 skyrocketed from the 2017 amount of $5.49 million to $11.2 million. However, for your rich folk, the exemption is scheduled to revert back in 2025 to about $6 million (hard to predict because of the inflation adjustment). Bottom line: almost no one (except for the uber-wealthy) need to worry about paying either gift or estate tax. The public mistakenly think that taxes are due when a gift exceeds $15,000 (the present interest annual exclusion), but those thoughts are wrong. The gift in excess of $15,000 should be referred to as a "Reportable Gift" instead of a "Taxable Gift," which infers that tax is due as a result of the gift. This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship. Paul Rabalais Louisiana Estate Planning Attorney www.RabalaisEstatePlanning.com Phone: (225) 329-2450
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Learn the basics about trusts and how they are used in estate planning. What is a trust? What type of trust do you need? Watch and learn here. NOTE: NOT LEGAL ADVICE! For informational purposes only. Contact our office at (248)278-1511 if you would like legal advice specific to your situation.
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We explain how to avoid #EstateTax, including "what is estate tax?", the use of AB #Trusts to double your estate tax exemption, Irrevocable Life Insurance Trusts, #GiftingStrategies, and generation skipping trusts. Subscribe: https://www.youtube.com/channel/UCY4QhGg-zwgUIthoK3EdyjA?sub_confirmation=1 Read the article: Link y More Learn About Law videos, podcasts, and articles: http://www.learn-about-law.com Schedule a Free Consultation or Learn More about O'Flaherty Law: http://www.oflaherty-law.com Please call us today at (630)324-6666 to schedule a free consultation. Like us on Facebook for weekly videos: https://www.facebook.com/oflahertylaw/ O'Flaherty Law has convenient offices located in Downers Grove, Elmhurst, Naperville, Tinley Park, St. Charles, and Lake in the Hills, Illinois, serving DuPage County, Will County, Cook County, Lake County and McHenry County. Its attorneys focus on providing quality legal work, above-and-beyond customer service, and affordable rates in the following practice areas: divorce & family law; estate Planning, wills & trusts; probate & estate administration; litigation, civil law & dispute resolution; business representation & corporate law; guardianship, elder law & special needs law; residential & commercial real estate law; immigration; bankruptcy; and DUI law and traffic & criminal defense.
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In estate law, trusts are taxed differently depending on whether they are revocable or irrevocable trusts. Learn how a trust is taxed from an estate planning and probate lawyer in this free video on estate law. Expert: Brad Wiewel Contact: www.texastrustlaw.com Bio: Brad Wiewel is board certified in estate planning and probate by the Texas Board of Legal Specialization and has been practicing law since 1978. Filmmaker: Demand Media
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NOTE: This is the older version of this content. The more recent version, which features up to date materials and improved audio quality, can be found here: https://youtu.be/1vseUMGPipQ This lesson is based off of Chapter 30 of the text for Finance 418. Professor Bryan Sudweeks of Brigham Young University teaches this lesson. Guest Speaker: Kurt Johnson, Estate Planning Lawyer. All lesson materials are available online at: http://personalfinance.byu.edu/content/30-estate-planning-basics Objectives of this lesson: A. Understand the Principles of Estate-Planning B. Understand the Importance of Estate Planning and the Goals of Estate Planning C. Understand the Estate-Planning Process D. Know How Trusts Can Be Used to Your Advantage in Estate Planning E. Understand the Importance of Wills and Probate Planning
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In the final instalment, for now, in our series on trusts and their uses, I cover off how trusts can be used in your lifetime to reduce your inheritance tax bill using a Loan Trust or a Discounted Gift Trust. These are just two of the schemes that use trusts to achieve a personal financial aims.
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No one likes to think about death, but it’s important to plan for it in order to protect your wealth for the ones you love. This episode breaks down wills, trusts, naming beneficiaries and common pitfalls to avoid when it comes to your estate plan. Nicole Newman, Attorney at Law joins the show to discuss some of the biggest estate planning mistakes she sees every year. Find out how to get your estate plan in order and help ensure your legacy lasts among the ones you love most. Important Points: 1:14 “He [Prince] died with about a $300,000,000 estate (and no will!)” 1:35 “64% of Americans do not have any type of estate plan.” (Source: online survey by Harris Poll on behalf of Rocket Lawyer, 2015) 3:07 “Should you have a will or a trust? Which is going to be better for you?” 5:02 “For many of you, a trust is going to be the way to go because you’re going to have the disposition of the assets that you want and it’s going to be a private matter…it also happens quicker than a will.” 5:47 “If you look at what probate is all about and what the expenses are, we have an example because I think people get confused here. It’s not necessarily what your net worth is - it’s what your gross assets are.” 6:11 “Probate fees are based on the gross estate.” 8:35 “Putting my money in a trust will ensure my children will receive the money instead of my creditors (True or False?).” 10:45 “When people fail financially, it’s because they hear the speculation and get out of their portfolio at the wrong time…you have to stay the course.” 12:52 “It’s not only a problem when someone dies without a will, but it’s also a problem when someone dies with just a will... it’s a problem because they are not avoiding probate.” 13:43 “Here in California, what will usually trigger the need for a trust is when we have real estate and/or children. That’s when I usually highly recommend exploring a trust.” 14:36 “The big problem with outright distributions can be certain beneficiaries.” 19:12 “You do have to change the title of your assets because if you don’t, those assets are going to go through probate.” 21:26 “We put together an Estate Plan Organizer – this is the first step for you to start organizing your estate.” If you would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-assessment/ Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.” Channels & show times: yourmoneyyourwealth.com https://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
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Dr William Raabe adds some final thoughts on how to use fiduciary entities (trusts and estates) as part of a broader tax planning initiative. Topics include the entity's tax rate structure and termination date. Also addressed is the use of trusts for the post-mortem care of a decedent's surviving pets.
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How do you plan for your future financial peace of mind? The first big step comes with knowing the basics of Trust and Estate Planning. This installment of the Zions Bank webinar series is presented by Zions Trust President Rebecca K. Robinson and explores general concepts and strategies. Tune in for important insights that will help determine your own estate planning needs. You can register to attend the next live webinar session by visiting https://www.zionsbank.com/learning-center/webinars.jsp. Download the presentation slides here: https://www.zionsbankblog.com/retirement/webinar-trust-and-estate-planning/ Zions First National Bank operates locations in communities throughout Utah and Idaho, and more than 150 ATMs in the two states. In addition to a wide range of traditional banking services, Zions offers a comprehensive array of investment and mortgage services, and has a network of loan origination offices for small businesses nationwide. The company is also a leader in providing electronic banking services, including electronic municipal bond trading. Connect with Zions Bank: Like Zions Bank on Facebook: https://facebook.com/zionsbank Follow @ZionsBank on Twitter: http://twitter.com/ZionsBank Zions Bank Official Website: https://www.zionsbank.com/ Zions Bank Mobile: https://www.zionsbank.com/personal/mobile-banking.jsp Find a Branch or ATM near you: https://www.zionsbank.com/locations/branch-atm-locator.jsp This complimentary interactive webinar is sponsored by Zions Bank and is offered for informational purposes only, and should not be construed as legal or other professional advice. Consult with an attorney or other professional concerning your own needs and circumstances. By utilizing the information provided by Zions Bank, you acknowledge and agree this does not constitute any legal commitment to become a customer of any bank including Zions Bank and its affiliates nor does it constitute an offer of any extension or modification of any credit to you by Zions Bank or its affiliates. IMPORTANT NOTE: Trust and cash management services are offered through Zions Trust, National Association (Zions Trust). Zions Trust is a subsidiary of Zions First National Bank (Zions Bank). Zions Bank is part of Zions Bancorporation family of banks. Zions Trust is part of the wealth management arm of the Zions Bancorporation. Investments are NOT insured by the FDIC or any federal or state governmental agency, are NOT deposits or other obligations of, or guaranteed by, Zions Bank, its affiliates or any other bank within Zions Bancorporation, and may be subject to investment risks, including the possible loss of principal value or amount invested.
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We welcome realtor, Steve Ploetz, and estate attornies, Lisa Samuth and Julie Dewberry, to explain what people need to know about having a trust and why it is important for California residents. Questions for Steve? 760 525 5917 Questions for Lisa and Julie? 858 793 0300 Filmed by www.smartersandiego.com
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As we discuss an estate planning program with our clients, some of our clients that they would like to arrange their estate to avoid the court-supervised probate estate administration at their death, but they are concerned about how setting up a Revocable Living Trust might affect their income tax situation during their lifetime. When you create a Revocable Living Trust, you will be what's referred to as the "Grantor" or "Settlor." You can amend or revoke the trust at anytime, and you are entiled to receive all of the income that the trust assets produce during your lifetime. While there are many different types of trusts, this type is arranged so that you are still taxed on all income earned by the trust assets. You continue to use your Social Security Number on all trust bank and investment accounts. The trust does not need its own Tax Identification Number. As long as you live, all of the income is reported on your own personal income tax return, so you won't need to file a separate trust tax return. Some people like that their trust does not complicate or change their tax status, but the assets in the trust will avoid the Louisiana court-supervised probate estate administration upon their death. www.RabalaisEstatePlanning.com Share and Subscribe
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Overview of the estate tax. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/taxes-topic/taxes/v/tax-brackets-and-progressive-taxation?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/taxes-topic/taxes/v/alternative-minimum-tax?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Benjamin Franklin (and several other writers/philosophers) tells us that "In this world nothing can be said to be certain, except death and taxes." He's right. This tutorial focus on personal income tax. Very important to watch if you ever plan on earning money (some of which the government will take for itself). About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy’s Finance and Capital Markets channel: https://www.youtube.com/channel/UCQ1Rt02HirUvBK2D2-ZO_2g?sub_confirmation=1 Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy \
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3 Benefits of Trust Planning (Other Than Avoiding Estate Taxes) We've spent a lot of time talking about trust planning as it relates to estate tax avoidance and reduction, and I wanted to take a little time to talk about some benefits of trusts outside of the estate tax arena. Some people either don't qualify or don't care about estate taxes, but that doesn't mean you should just write off trust planning altogether. Here are a few things we talk about in today's show: 1. Asset Protection from Creditors 2. Probate Avoidance 3. Asset Protection from Divorce If you are thinking about creating a trust as part of your estate plan but aren't sure if you need it, listen to this episode and then reach out and schedule a strategy session to talk about. I promise by the time we're done you'll have a plan you're happy with. And if you want an estate planning attorney that is "reassuringly expensive," click here to book a strategy session and we'll talk. - Christopher Small wants to help you live a rich life now and leave a rich legacy. Estate Planning TV is all about one thing - getting you to realize how important estate planning is to you while you are alive, and the power estate planning can have in shaping your legacy. You'll find information here on estate planning, financial planning, productivity, finance, self-improvement, family protection, tax avoidance, retirement planning, estate taxes, charitable giving, investing, life insurance, asset protection, and much much more! Christopher is the owner of CMS Law Firm LLC, a Seattle estate planning law firm. CMS Law Firm does three things really well: (1) estate planning; (2) probate; and (3) trust administration. Christopher is a speaker, a blogger, a husband, a father, a golfer, and really good at helping people create the life of their dreams. Find Christopher here: Website: http://cmslawfirm.com/christopher Facebook: http://facebook.com/cmslawfirm Twitter: http://twitter.com/richlifelawyer Instagram: http://instagram.com/richlifelawyer
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SPECIAL FREE BONUS – For Instant FREE Access to The 10 Hour Real Estate Fast Track Weekend Online Video Home Study Valued At $497.00! -http://www.realestatedvd.com.au/absolutely-free-access-2016/ LIVE EVENT FREE TICKETS – For FREE tickets to attend the next live Melbourne educational event – The Real Estate Investing Fast Track Weekend - http://www.realestatefasttrack.com.au/?utm_source=Youtube Watch Steven Molnar from Investors Prime and Expert Guest Speaker Matienne Angelique from Savvi Accounting for an exclusive 1.5 hour live Webinar where you will discover the advantages and disadvantages of buying investment properties in trusts compared to your personal name. More specifically Martienne will cover the implications of using trusts with regards to Negative Gearing, Land Tax, Capital Gains Tax, and Asset Protection. The implications of setting up these structures correctly for property investors are very substantial and getting this one part of your overall investment strategy wrong could set you back tens of thousands and in some cases hundreds of thousands of dollars payable in tax, and wipe years off your investment time line horizon...in fact, incorrectly structuring your Property Portfolio could even cost you double the amount of tax. This Webinar will teach you the critical things you need to know to structure your assets for protection and maximum profit, so reserve your place right now! Martienne Angelique is a Chartered Accountant with more than 20 years'...of technical taxation, accounting structuring and advising experience. She is a Visionary, Entrepreneur, Speaker, published Author, Property and Wealth Creation Specialist and an Asset Protection and Structuring Expert. Her passion for property and wealth creation began at a young age, buying her first property when just 20 years old. Martienne founded the Savvi Group which is a leading edge business paving the way to a new approach to serving clients. The business offers a comprehensive range of services to allow clients to build their financial success through a full spectrum of financial services and expertise to PLAN & BUILD & PROTECT their wealth and success. Martienne has a unique ability to inspire others to achieve success, and with her specialised skills coupled with her passion for property means she has an excellent base for advising on Advanced Wealth Creation strategies. For dates and venues to the latest Real Estate Investing Fast Track Weekend Live Event go to; http://www.realestatefasttrack.com.au/?utm_source=Youtube To access the latest projects offered by Investors Prime Real Estate go to; http://www.investorsprime.com.au For further education on how to build and structure a Multi-Million Dollar Property Portfolio from Scratch go to;http://www.RealEstateDVD.com.au To keep up to date with the latest videos, blogs, eBooks, from Konrad Bobilak go to; http://www.konradbobilak.com.au
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2018 brings some changes to the estate planning horizon. The following are four tips that you can take advantage of to protect your estate in 2018. (1) Taxes. With the new law changes, there will be less emphasis on gift and estate tax avoidance, and more emphasis on capital gains tax and income tax avoidance. Smart married planners will ensure that their estate gets the valuable "double step-up in basis" (doesn't happen automatically), while other smart planners will arrange their affairs so that they and their heirs and beneficiaries minimize the income tax burden of a transfer of retirement accounts and other valuable assets. (2) You're Living Longer. Because you are living longer, you need to protect your estate if you get sick for a prolonged period, or, if your mind becomes demented. Arranging all of your assets so that your trusted loved ones have access when you can't, and, for some, protecting your estate from nursing home poverty, is critical. To protect your estate from when you are sick, you must take action while you are well. (3) Simplify Your Estate Settlement. Many Louisiana families want to arrange their estate so that judicially-supervised court proceeding (some call it "Probate;" other Louisianians call it "Succession"). Whether it's utilizing a revocable living trust or other probate avoidance strategies, act in 2018 to make estate settlement simple. In addition, have conversations with participants in your estate settlement - before your estate settlement. This can go a long way toward having an amicable estate settlement. (4) Get Started. Procrastination is a big obstacle to estate planning. Put it on your "To Do" list, and then get started so you can check it off your "To Do" list. You'll feel great knowing you have all your legal affairs in order for yourself and your family. Happy New Year! Make 2018 your best ever. Paul Rabalais www.RabalaisEstatePlanning.com Law Office locations: All over south Louisiana Toll-free phone: 866-491-3884
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The Tax Policy Center estimates that only .14% of estates will now pay a federal estate tax. But state income taxes are on the rise. Advisors need to be aware of how state income taxes affect the trust's investment returns and whether such taxes can be reduced or avoided. In today's session we will review the advantages of situs in a state without state income tax and whether such situs can reduce or avoid state income tax in the grantor's home state. We'll also highlight the constitutional challenges to the continuing taxation of a trust long after the grantor has moved or died.
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Contact http://www.scriberlaw.com/ or call (404) 939-7562 http://www.scriberlaw.com/estate-planning/ Transcript: Young parents with young children have specific concerns. Perhaps more than any other group of people, it is important for parents of young children to plan their estates at the earliest possible moment. First and foremost, you must consider the care of your children if a tragedy were to strike you. Who will take care of them? How will the emotional and financial void be filled? When we are no longer part of this world, what will the people who depended on you say? Will they say that you loved them so much that you took care of them, even when you couldn’t be there? Or will they be saddened that you left them on their own? A tragedy can happen to us at any age. But if you But if you really want to live life on your terms, then take action today to make sure that you do that, all the way to the end. About Stephen Scriber: Stephen Scriber, a graduate of Duke University School of Law, is an experienced wills, trusts, and estate planning practitioner, with offices in Marietta and Midtown Atlanta. He believes in serving his client’s needs with commitment, integrity, and honesty while minimizing costs and stress. In addition to running a growing practice, he has numerous involvements with charitable and nonprofit organizations in Atlanta, serving as Vice President/incoming President of the Stonewall Bar Association of Georgia. He also is a member of the Atlanta Leadership Committee of Lambda Legal, the Atlanta Bar Association, the Gate City Bar Association, and the Duke Club of Atlanta. Marietta Office 707 Whitlock Avenue SW Suite D32 Marietta, GA 30064 Phone: (404) 939-7562 Atlanta Office 1100 Peachtree Street NE Suite 200 Atlanta, GA 30309 Phone: (404) 939-7562 https://www.linkedin.com/in/scriberlaw https://www.facebook.com/scriberlaw https://twitter.com/scriberlaw https://plus.google.com/113216768644911023936/about https://www.youtube.com/user/scriberlaw https://www.avvo.com/attorneys/30064-ga-stephen-scriber-4008677.html
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Roger McEowen, interviewed by Janet Adkison. The Tax Cuts and Jobs Act (TCJA) represents a major change to many provisions of the tax Code that impact individuals and business entities. The TCJA also makes substantial changes with respect to the income taxation of trusts and estates. Those changes could have an impact on the use of trusts as an estate planning/wealth transfer device. Professor McEowen discusses the impact of the tax cuts legislation on trusts and also estates. Roger McEowen is the Kansas Farm Bureau Professor of Agricultural Law and Taxation at Washburn University School of Law in Topeka, Kansas. From RFD-TV Market Day Report, May 29, 2018; uploaded with permission.
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What happens when someone dies? What returns need to be filed? When are they due? Who pays tax on the income or gets the benefit of the deductions? Are there opportunities to reduce the tax liability? This session is a mock client interview dealing with all of the issues related to filing the final returns for the decedent, returns for the estate or trusts, and the impact on the beneficiaries.
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If You Have a Revocable Living Trust, Watch This Now! Congratulations. You took some major steps toward making settling your estate easier. The Probate can be difficult, it takes longer than people want. It's expensive, a hassle, it's a court proceeding. There's a big estate planning problem out there. The titling process is getting neglected causing families to go through probate. However, when the revocable living trust is fully funded, the estate settlement is a beautiful thing. But your living trust is only as effective as the assets that you title into it. Many fully funded trusts are settled without attorney involvement. The surviving spouse maintains access to assets. The surviving spouse can sell the home and buy another, and can access all financial accounts. Even when probate is avoided, survivors are having to deal with funeral homes, death certificates, the Social Security office, the VA, financial institutions that hold IRAs, bills that keep coming in, and insurance companies if the deceased had life insurance or annuities. Then, when you add on top of that the requirement of a probate when it was unexpected, then that sometimes is that straw that broke the camel’s back – survivor’s are fragile – going through grief and stress of the loss of a loved one. There are a few reasons that trusts don’t get funded. People forget they owned that piece of property. People thought they had beneficiaries on all accounts. People didn’t think about buying the new property in the name of their trust. People didn’t think about opening that new account in the name of their trust. People may not have known that they needed to transfer their LLC to their trust. They kept a minimal amount of shares out of the trust. They thought their attorney was going to handle getting everything in the trust, but an attorney can only transfer certain assets into your trust. Do these three things: (1) Share this information. Surely you know other friends and colleagues that can benefit from this information. If you are an estate planning attorney, share with your clients along with a note to contact you if they need legal help. If you are a financial advisor, share with your clients and prospective clients along with a note to contact you if they need help titling and beneficiary designations. (2) Fund your trust. While the process isn’t difficult, it’s easy to get sidetracked or procrastinate. Just make funding your trust a priority and keep going until you’re finished. Take a look at everything you have this is titled. Determine whether assets are probate or nonprobate. Probate assets, in general, go in your trust. There are many excellent attorneys around the country willing to help. If you need a lawyer’s help, get it. While you are at it, update your beneficiary designations. (3) Write a Comment. if this video can help one person avoid probate and make things easier for their survivors, it’s worth it. Comment with your positive comments and experiences on youtube or linkedin or wherever else you might see or hear this, so that others can and will benefit from your experience. Now go leave a legacy! Your family will thank you for it. This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship. Paul Rabalais Louisiana Estate Planning Attorney www.RabalaisEstatePlanning.com Phone: (225) 329-2450
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Learn from Brian D. Lerner, Estate Planning Attorney from the Law Offices of Brian D. Lerner, APC how a Marital Deduction works and what it is used for and how to avoid the Estate Taxes. Please call our office at (562) 495-0554 or visit our website at www.californiaimmigration.us
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Connecticut residents face both a Federal estate tax and a Connecticut estate tax when they pass away. The federal estate tax threshold is $11.18 million. The Connecticut estate tax threshold is $2.6 million. If your estate is lower than these two amounts, you have nothing to worry about! But if your estate falls above either threshold, you should watch this video. In it, Paul discusses portability of the Federal Exemption and how it can be used to save money in your estate. He also discusses how using a trust can help protect your money. For more in-depth information and some examples, take a look at this blog post: https://www.czepigalaw.com/blog/2017/01/06/federal-connecticut-estate-tax-tension-2-big-reasons-add-trust-estate-plan/
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A brief excerpt from Quimbee's tutorial video on the basic rules and concepts of estate taxation. Watch more at https://www.quimbee.com/courses/17/tutorials/84. This video is just one of five videos in our "Estate Planning and Administration" tutorial, in which you'll learn about the process of arranging for and carrying out the disposition of an estate after death and the various aspects of this process, such as probate, non-probate transfers, the power of appointment, and estate taxation. "Estate Planning and Administration" table of contents: 1. Probate 2. Nonprobate Transfers 3. Power of Appointment 4. Estate Taxation The "Estate Planning and Administration" tutorial also contains quizzes and a test to gauge your understanding of the concepts discussed in the videos. You can even earn the "Estate Planning and Administration" merit badge.
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http://bazikyanlaw.com/areas-of-practice/estate-planning/funding-living-trust-assets-attorney-ca/ Estate Planning Attorney Probate Attorney Trust Administration Attorney Asset Protection Attorney With offices in both Glendale, California and Sherman Oaks, California. Contact us for a free consultation. Sherman Oaks Location 15300 Ventura Boulevard, Suite 305 Sherman Oaks, CA 91403 Glendale Location 450 N. Brand Blvd., Suite 600 Glendale, CA 91203 (818) 649-9110 Office (818) 945-0990 Fax
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Susan Fincher-Stoll with Harrison Pensa LLP Western Fair District Farm Show Farms.com
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A family estate trust helps married couples retain an estate tax exemption and protects from remarriages taking money from the family. Find out what a family estate trust is from an estate planning and probate lawyer in this free video on estate law. Expert: Brad Wiewel Contact: www.texastrustlaw.com Bio: Brad Wiewel is board certified in estate planning and probate by the Texas Board of Legal Specialization and has been practicing law since 1978. Filmmaker: Demand Media
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Learn from estate planning attorneys Neal Bartlett and Stefanie Herrington about how to use AB Trust to Minimize Estate Tax Obligations. Schedule a planning session with our experienced attorneys today to learn how we can help you and your family set up living trusts, wills, power of attorneys, healthcare directives in Carpinteria, Santa Barbara, Ventura and Montecito: (805) 576-7693. Bartlett & Herrington, P.C. 4299 Carpinteria Ave. Suite 101 Carpinteria, CA 93013 (805) 576-7693 firstname.lastname@example.org Website: http://www.lawbh.com/ Facebook: https://www.facebook.com/BartlettHerr... Yelp: https://www.yelp.com/biz/bartlett-and... Disclaimer: The materials contained on this channel is provided solely for informational purposes, are not legal advice, and do not create an attorney-client relationship between you and the law firm or any of its attorneys.
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THIS POSITION AVAILABLE FOR LEASE - 747-300-5595 Will Trust Estate Inheritance Tax Planning - All CPA Firm Services San Diego California and offers Full-Cycle Accounting, Payroll and Bookkeeping Services San Diego, Estate & Tax Strategies, Home-based Business Tax Consulting, Corporate Tax Guidance, IRS Tax Preparation, Real Estate Planning & Tax Strategies Services and much more. For the best Certified Public Accountancy Firm in the San Diego Area contact us. https://www.youtube.com/watch?v=6HPZ27XJlxw YouTube Channel: https://www.youtube.com/channel/UChui-8CWPkllM-wZr2NgOoA
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Advanced financial advice to ensure maximum asset protection from lawsuits, divorce and Medicaid spend down. For more information call (888) 938-5872 or go to: http://irrevocable-trust.ultratrust.com/irrevocable-trust-tax-benefits.html If you enjoyed the video, please add your comments below and subscribe to our channel.
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Joe Anderson invites special guest Nicole Newman, Esq. to discuss the ten most common estate planning mistakes she comes across as an estate planning attorney. Important Points (00:55) Mistake #1: Dying Intestate (01:38) Mistake #2: Having an “I Love You” Will (02:20) Mistake #3: Owning Real Property Jointly (04:07) Mistake #4: Giving Property Outright to Heirs (15:45) Mistake #4: Other Options (17:55) Mistake #5: Not Having the Right Trust (18:50) Mistake #6: Not Funding the Trust Properly (19:54) Mistake #7: Not Updating Your Estate Plan (21:00) Mistake #8: Doing It Yourself (21:40) Mistake #9: Believing a Trust Alone is Enough (24:40) Mistake #10: Believing the Biggest Enemy is … Uncle Sam If you would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-assessment/ Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.” https://www.youtube.com/subscription_center?add_user=PureFinancialCFP "Your Money, Your Wealth" channels & show times: http://yourmoneyyourwealth.com https://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
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Let me talk to you for a minute about the trusts and what trusts can do, what trusts can't do, the different types of trusts. Probably the most common type of trust that you've heard about is a typical living trust or a revocable trust. And a reason that people create a revocable trust are many-fold. One would be to avoid the probate process when you pass away, which works as long as the assets were held in the name of the trust. Sometimes people create trust and don't fund them and that objective isn't met. But if, to the extent, the assets were held in a trust, the trust can avoid probate. There can be some great tax planning available with a trust. But the tax laws have changed recently, and so the need for trust to take advantage of the tax planning opportunities is much reduced now. And as a matter of fact, sometimes, some of the old terms of the trust under the old laws, before 2010, for instance, might need to be updated and reviewed because they may be more cumbersome than you really need. Gunderson, Denton & Peterson, P.C. http://gundersondenton.com Phoenix Location: 40 N. Central Avenue, Suite 1400-1532 Phoenix, AZ 85004 Phone: 480-325-9937 Mesa Location: 1930 North Arboleda, Suite 201 Mesa, AZ 85213 Phone: 480-655-7440 Fax: 480-655-7099 Social Media: Linkedin: https://www.linkedin.com/company/gunderson-denton-&-peterson-pc GDP's Google+: https://plus.google.com/+Gundersondenton Brent Gunderson's Google+: https://plus.google.com/+BrentGunderson Blog: http://gundersondenton.com/blog Twitter: https://twitter.com/gundersondenton Facebook: http://www.facebook.com/gundersondenton Avvo: http://www.avvo.com/attorneys/85213-az-brent-gunderson-392212.html Related Links: http://gundersondenton.com/arizona-estate-planning-lawyer/phoenix http://gundersondenton.com/arizona-estate-planning-lawyer https://www.linkedin.com/company/phoenix-estate-planning-lawyer
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Inheritance taxes, or death taxes, are federal taxes imposed when someone dies. Get the scoop on federal inheritance taxes from an estate planning and probate lawyer in this free video on estate law. Expert: Brad Wiewel Contact: www.texastrustlaw.com Bio: Brad Wiewel is board certified in estate planning and probate by the Texas Board of Legal Specialization and has been practicing law since 1978. Filmmaker: Demand Media
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Do you plan on transferring your business to a loved one upon retirement? In this video, you will understand how to transfer your business by utilizing an Estate Freeze and learn about the proper steps on how to implement one in the future. 0:27 - 1. Mistakes You Can Make When Transferring a Business 2:04 - 2. Use an Estate Freeze 2:26 - 3. How to Implement an Estate Freeze 2:30 - 4. Step 1) Create a Family Trust 3:10 - 5. Step 2) Cancel your old shares for new preferred shares 3:36 - 6. Step 3) Issue common shares to Family Trust Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video. Music: Perspectives by Incompetech Animation: Created with GoAnimate
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Note: these are my show notes - a general outline of the episode. If you want all of the information, you MUST listen to the episode. "Anyone may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes." - Learned Hand Before we get started, some ground rules. First, this is not a political show. Second, this is not a show about whether or not Trump is a good person. Third, what we’re here to do today is look at the ways that Trump avoided estate taxes. We’re doing this for three reasons: 1. so you can learn a little about how estate taxes work; 2. so you can see the value in using a good estate planning attorney; and 3. I think it’s interesting, and this is my show. Fourth, before we get into all of it I do want to point out one key factor that made a lot of this possible for the Trumps - they are business owners. This afforded them the flexibility to do some of the things they wanted to do. Fifth, here we go! This information comes from a New York Times article published earlier this week (October 2018). I thought it would be fun to break down exactly what they were talking about for you… To begin, let’s start at the end. Fred and Mary Trump’s estate valued at 1 billion. With 55% tax rate should have paid 550MM. But they ended up paying $52.2MM, or about 5% (one-tenth of the max they could pay). Method 1 - transfer of wealth via salary (income tax going to be significantly lower than 55%). Donald was Fred’s employee, property manager, landlord, banker, and consultant… Method 2 - create companies in kids’ names - dad runs them (build the assets from the beginning with kids involved) - this is where All County Building Supply & Maintenance issue comes up. Important note with first two methods - this takes PLANNING. You have to think about this and work on it - it doesn’t just happen. If you can find some way to get interested in this, to make it a game, to make it fun, you’ll make a lot more progress, and pass down a lot more wealth. I was going to say save more on taxes - but it’s not really about that… Method 3 - “loans” that were never repaid and never pursued by Fred and Mary Method 4 - GRATs = Grantor Retained Annuity Trust. Okay, we’re about to get in the weeds on this one… First, it’s an irrevocable trust. Once created and funded, there is no going back. Second, the goal is to shift wealth to the next generation with ZERO estate or gift tax ramifications. Third, here’s how it works: - the creator of the trust moves a specific asset into the trust and gets back an annual payment for a certain number of years (plus interest). When the term of the annuity payments end, what is left in the trust is out of the creator of the trust’s estate and passes on without estate or gift tax. - the amount of the annuity payment interest is based on a rate created by the IRS (or can be zeroed out). - once out all growth is estate tax free. Method 5 - yearly gift allowance ($15K/year per person - $30K/year if married) Method 6 - gifting shares of businesses to create fractional interests, thereby reducing the value of the asset. Method 7 - other trust planning (ground trusts - buy land, move into trust with kids as beneficiaries, and then lease the ground to Trump companies for $$$$$ - all going to the kids). Method 8 - created “family mortgages” with higher interest rates that were purchased by trusts and partnerships Fred set up and seeded with money Method 9 - “buying” interests in kids’ businesses for huge money and then “selling” back shares at low valuations (or exchanging old debts for shares and doing the same thing)… THE KEY - most of these didn’t amount to huge shifts in interest. But each of these methods was employed again and again and again, adding up to huge shifts in interest. THE STICKING POINT - property valuations… If you want to learn more about this, give me a call. Cheers. Christopher Small If you need an estate plan the first step is a conversation (over the phone or in person). Click the link to set your strategy session up today. http://cmslawfirm.com/scheduleasession And, if you want more estate planning greatness (translation - learn more about living a great life, protecting your family, making more money, and creating a lasting legacy) check out our Facebook page. https://www.facebook.com/cmslawfirm - LINKS Schedule a Strategy Session - https://cmslawfirm.com/scheduleasession Facebook: http://facebook.com/cmslawfirm MY NEWEST ARTICLE https://cmslawfirm.com/blog Christopher is the owner of CMS Law Firm LLC, a Seattle estate planning law firm. CMS Law Firm does two things really well: (1) estate planning and (2) probate. Christopher is a speaker, a blogger, a husband, a father, a golfer, and really good at helping people create the life of their dreams.
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2017 GOP Tax Reform Framework explained by Ron Aucutt, tax and estate expert lawyer and Fellow with The American College of Trust and Estate Counsel. Hear analysis of Big Six tax reform plan and effects on individuals and businesses. How will reform impact estate tax? Is timing realistic? Learn more... ACTEC Trust & Estate Talk offers professionals best practice advice, insights, and commentary on subjects that effect the profession and clients. ACTEC, a professional society of peer elected trust and estate lawyers, is passionate about estate and trust issues including elder law, estate planning, wealth planning, probate law, wills, living wills, power of attorney, guardianship, medical power of attorney, trusts, irrevocable trusts, special needs trusts, charitable trusts, trust funds, Rockefeller trusts, marital trusts, asset protection, family partnerships, estate taxes, gift taxes, tax legislation, tax law, and tax reform.
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Bobby explains how federal estate taxes work and how you can take steps to reduce your estate's exposure to these taxes. Bobby uses a supermarket analogy to show how the federal government reviews your estate at "check out" time and what estate planning tools can be utilized to get a "coupon" on your estate valuation. Learn more here: https://insightlaw.net/legal-services/estate-planning
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The UltraTrust® is the best irrevocable trust asset protection plan to prevent estate taxes. The estate is everything you own after you die and assessed at fair market value. The estate tax is the only voluntary tax within the IRS. Without good estate planning and without an asset protection strategy (the UltraTrust® irrevocable trust) the estate tax of the IRS will force you to sell your estate at the worst of times. However, you must be able to separate yourself from your assets. The UltraTrust® irrevocable trust asset protection plan will not allow you to own the assets any longer. If you cannot separate yourself from your assets then somebody has to pay the estate taxes, the lawyers, the accountants, the government and the legal system. Each state has its own taxation with regards to your estate that resides in those states. Estate planning with the UltraTrust ® irrevocable trust will help protect your assets from the estate taxes.
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http://www.asset.inhouseattorneys.com,will,trust,trust company,estate planning,durable power of attorney,asset protection,estate tax,estate planning attorney,estate tax calculator,revocable living trust
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Contact http://www.scriberlaw.com/ or call (404) 939-7562 http://www.scriberlaw.com/estate-planning/basic-elements-estate-plan/ Transcript: The first thing I would recommend is to research your lawyer. Google them. Be prepared to ask about your lawyer’s experience. You’ll benefit if your lawyer has worked with estates similar to yours. Complete your questionnaire to the best of your ability. It’ll save us a lot of time at the meeting and allow us to get the most out our time together. Be clear on what estate planning documents are included in your estate plan and what your lawyer will charge to complete those documents. Get an estimate of how much your complete estate plan will cost. Discuss estate taxes with your lawyer. Estate tax law is in a state of flux. Your lawyer can help you figure out whether your estate is likely to have to pay estate taxes and, if so, how to minimize or avoid them. Discuss any special circumstances with your lawyer. Do you have a family business? An heir with a disability? Children from a prior marriage or relationship? Your lawyer needs to know your needs in order to plan your estate. Be prepared to discuss, estate planning goals. List the contact information for your favorite charities. Prepare a written list of your questions or concerns. About Stephen Scriber: Stephen Scriber, a graduate of Duke University School of Law, is an experienced wills, trusts, and estate planning practitioner, with offices in Marietta and Midtown Atlanta. He believes in serving his client’s needs with commitment, integrity, and honesty while minimizing costs and stress. In addition to running a growing practice, he has numerous involvements with charitable and nonprofit organizations in Atlanta, serving as Vice President/incoming President of the Stonewall Bar Association of Georgia. He also is a member of the Atlanta Leadership Committee of Lambda Legal, the Atlanta Bar Association, the Gate City Bar Association, and the Duke Club of Atlanta. Marietta Office 707 Whitlock Avenue SW Suite D32 Marietta, GA 30064 Phone: (404) 939-7562 Atlanta Office 1100 Peachtree Street NE Suite 200 Atlanta, GA 30309 Phone: (404) 939-7562 https://www.linkedin.com/in/scriberlaw https://www.facebook.com/scriberlaw https://twitter.com/scriberlaw https://plus.google.com/113216768644911023936/about https://www.youtube.com/user/scriberlaw https://www.avvo.com/attorneys/30064-ga-stephen-scriber-4008677.html
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There are three tax traps for international couples including the gift and estate tax limits that apply to non U.S. citizens and U.S. citizens leaving money to a non-U.S. citizen spouse. We will discuss these issues as well as the need and structure of a Qualified Domestic Trust (QDOT) designed to defer the federal estate tax when a U.S. citizen dies and leaves money to a spouse who is not a U.S. citizen.
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