Tag Archives: Crummey Notices

The Crummey Notice Requirement – What is the Point and When is it Necessary?

One of the primary techniques used to reduce a person’s taxable estate is making gifts during his or her life to other individuals, usually children or grandchildren, using the annual gift tax exemption ($14,000 in 2017). An individual can make … more

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Year-End Estate Planning To-Do List

> Familiarity with the terms of your documents is an essential part of having an up-to-date estate plan.   > If you do not have an estate plan in place, the end of the year is an ideal time to … more

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The Biggest Wastes of Money in Estate Planning

POWER POINTS: You are better off doing your estate planning right the first time. Estate planning must be customized to your needs in order to be effective. The estate planning process of basic planning, funding and advanced planning and maintenance … more

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Three Reasons Irrevocable Trusts Fail

All trusts fall under one of two categories: revocable or irrevocable.  These trusts differ in several significant ways, including their purpose, asset ownership and use, tax treatment and annual maintenance requirements.  This newsletter will briefly discuss the differences between a … more

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Significant Gifting Opportunity to Expire

With the lifetime Gift Tax exemption at the highest it has ever been ($5,120,000 in 2012)1 and Gift Tax rates (capped at 35% in 2012) and Applicable Federal Rates being historically low, 2012 is a perfect storm of gifting opportunity … more

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Estate Planning With Life Insurance

Life insurance can serve many purposes.  Whether you own a policy as income replacement security for your family, through your employer or as an investment asset, life insurance can be a multi-dimensional tool.  However, with all of the financial planning … more

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Asset Protection Through Estate Planning

It is a natural inclination to want to protect the assets that you have worked hard to obtain.  There are many levels of asset protection and the proper method must be determined depending not only on the type of asset, … more

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Stunning Decision Regarding Notice Requirement

The United States Tax Court has issued a stunning decision regarding the notice requirement for present interest gifts.  As discussed in the December 2010 Newsletter, a present interest gift is one in which the beneficiary has an immediate, unrestricted right … more

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Definition of the Month: Present Interest Gift

In order for a gift to qualify for the annual ($13,000) or lifetime ($1 million) Gift Tax exemptions, it must be a present interest gift.  A present interest gift is one in which the beneficiary has an immediate, unrestricted right … more

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The Notice Requirement for Gifts in Trust

One of the primary techniques used to reduce a person’s taxable estate is for him or her to make gifts during life to other individuals, usually children or grandchildren, using the annual gift tax exemption ($14,000 in 2014).  An individual … more

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