This article examines the appeal of the McCord decision, in which the Fifth Circuit reversed the Tax Court decision and allowed formula value clauses. The decision allows you to tie the amount of the gift to the value of the underlying asset, such as an FLP interest. So, it could say, I give $1 million […]

The article examines the IRS’ recent issuance of proposed regulations cracking down on Private Annuity Trusts used for income tax avoidance. The article looks at why PATs are still a viable tool in estate planning.

When people think about estate planning, they typically think of who will get   their possessions. Upon further thought, they recognize that the most important   decisions they make will be the identity of trusted decision makers like guardians,   executors, trustees, and agents. If the individual has a Will, an executor or personal representative […]

If you are a Medicare beneficiary, it is time to review your Medicare prescription drug plan options. The Medicare Part D open enrolment period began November 15, 2006, and ends December 31, 2006. During this period you can sign up for a prescription drug plan if you don’t have one or you can switch to […]

If you have thought about creating an ethical will but didn’t know where or how to begin, this guide can serve as a great starting point. An ethical will is not a legal document — it is a letter to your descendants that enables you to pass along information. You can use it for many […]

Whether your client is a parent with future educational obligations for young ones, or perhaps a loving aunt, uncle, grandparent, or stepparent, now more than ever 529 plans are an attractive tool for the escalating costs of education, as well as for income and estate planning purposes. This is because one of the hidden gems […]