Current, relevant estate, retirement and tax planning strategies with expert insight and advice
JK Lasser's New Rules for Estate, Retirement and Tax Planning is the authoritative guide to estate, retirement and tax planning, fully updated to reflect new changes and legal updates. Written by some of the most recognized experts in the field, this book offers useful planning advice for people of various ages and income levels, including information on retirement planning, trusts, charitable contributions, gifts, life insurance, and wills. In this guide, you'll find up-to-the-minute facts, valuable insight, and solid strategies to help you preserve your wealth and plan your estate under current tax rules. The helpful companion website provides spreadsheets, tools, and additional reading to help you get organized, while the book's expert guidance provides the background information you need to prepare properly.
Estate planning is a complex topic, made even more complex by constantly changing laws. Failing to plan properly can result in your loved ones losing out on much of your hard-earned assets, and researching the topic on your own can be a minefield of assumptions, misunderstandings, and potential legal consequences. New Rules for Estate, Retirement and Tax Planning helps you sidestep the confusion, distilling the information down to what's relevant and current. This practical resource covers a wealth of important issues, including:
Estate planning, taxation, and investing for maximum growth
The role of wills, executors, and trusts, and how to treat charitable contributions
Life insurance, retirement planning, Social Security claiming strategies and the do's and don'ts of gifting
Business planning, including succession, asset protection, and family limited partnerships
You've worked hard your entire life. You managed to accumulate assets. New Rules for Estate, Retirement and Tax Planning will help you maximize the transfer of your assets to the people and charities you love rather than the federal government in the form of taxes.
Table of contents
- Chapter 1: American Taxpayer Relief Act of 2012
- Chapter 2: Estate Planning
- Chapter 3: The Estate Tax System
- Chapter 4: Investment Strategies for Maximizing Estate Growth
- Chapter 5: Retirement Planning: Living Your Dream: How Much Is Enough?
- Chapter 6: You Don't Have a Will? Big Trouble!
- Chapter 7: Where There's a Will, There's Your Way!
- Chapter 8: Using Trusts in Your Estate Plan
- Chapter 9: Understanding the Living Trust
Chapter 10: Using Insurance in Your Estate Plan
- Life Insurance
- Using Life Insurance to Replace Income
- How Much Life Insurance Do You Need?
- What Type of Life Insurance Is Best for You?
- Insurance on a Homemaker
- Insurance on Adult Children
- How to Get the Best Deal on Term Life Insurance
- Insurance Warnings!
- Using Life Insurance for Estate Liquidity
- How Much Is Enough?
- What Type of Life Insurance Is Best for Estate Liquidity?
- The Irrevocable Life Insurance Trust
- Getting Your Life Insurance into Your Trust
- Using Life Insurance to Leverage Your Estate
- About Your Cash Values
- Long-Term Care Insurance
Chapter 11: Smart Strategies for Gifting Assets to Family Members
- The Annual Gift Tax Exclusion
- Unintended Gifts
- Filing a Gift Tax Return
- The Lifetime Applicable Exclusion Amount
- Outright Gifts
- When the Donee Is a Minor
- Other Tax-Free Gifts
- Family Gifts Utilizing Trusts
- Grantor Retained Annuity Trust
- Grantor Retained Unitrust
- Qualified Personal Residence Trust
- Taking Advantage of Generation-Skipping Transfers
- Sales to Family Members
- Loans to Family Members
- Sales to Intentionally Defective Grantor Trusts
- The Legacy Trust
- Chapter 12: Strategic Planning with Charities
- Chapter 13: Family Limited Partnerships
Chapter 14: Succession Planning for the Family Business or Farm
- Special Estate Tax Benefits for Farmers and Closely Held Business Owners
- Valuing Your Business or Farm
- Succession or Sale?
- Succession Planning: Keeping the Family Business in the Family
- Maximizing Your Business's Value through a Sale
- Structuring Your Buy-Sell Agreement
- Types of Buy-Sell Agreements
- Funding the Buy-Sell Agreement
- One Final Strategy—The Employee Stock Ownership Plan
- Chapter 15: Asset Protection Strategies
- Chapter 16: Personal Business Planning Issues
- Epilogue: Dealing with Parents and Their Money
- Appendix A: Professional Advisers
- Appendix B: Estate Planning Terms
- Appendix C: IRS Life Expectancy Table
- End User License Agreement
- Title: JK Lasser's New Rules for Estate, Retirement, and Tax Planning, 5th Edition
- Release date: October 2014
- Publisher(s): Wiley
- ISBN: 9781118929995
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