JK Lasser's New Rules for Estate, Retirement, and Tax Planning, 5th Edition

Book description

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

    1. Acknowledgments
      1. Harold Apolinsky, Esq., Estate Tax Law Specialist
      2. J. Winston Busby, Esq., LLM
      3. Stewart Welch III, Accredited Estate Planner, Certified Financial Planner™
    2. Introduction
    3. Chapter 1: American Taxpayer Relief Act of 2012
      1. Marginal Ordinary Income Tax Rates
      2. Capital Gains Tax Rates and Qualified Dividends
      3. Educational Provisions
      4. Business and Corporate Tax Relief
      5. Estate, Gift, and Generation-Skipping Transfers
      6. The 3.8 Percent Tax on Net Investment Income
    4. Chapter 2: Estate Planning
      1. What Is Estate Planning?
      2. The Benefits of Estate Planning
      3. The Nightmares of Poor Planning
      4. The Myths of Estate Planning
      5. Guidelines for Successful Estate Planning
    5. Chapter 3: The Estate Tax System
      1. Determining Your Estate Net Worth
      2. Understanding the Estate Tax System
      3. Your Estate Tax Picture
      4. Your Future Estate
      5. Overview of Estate-Planning Strategies
    6. Chapter 4: Investment Strategies for Maximizing Estate Growth
      1. Growth Strategy with a Safety Net®
      2. Prioritizing Your Investment Dollars
      3. Retirement Planning: Choosing the Best Investment Environments
      4. Some Final Thoughts on Investing
    7. Chapter 5: Retirement Planning: Living Your Dream: How Much Is Enough?
      1. Your Retirement Requirements
      2. Best Retirement Strategies
      3. Reverse Mortgages
      4. Social Security Strategies
      5. Customizing Your Health Care Plan
    8. Chapter 6: You Don't Have a Will? Big Trouble!
      1. Property Transfers at Death
      2. Transfers via Probate
      3. Direct Transfers by Title
      4. Other Methods of Property Ownership
      5. Choosing the Best Methods of Ownership
      6. Setting Estate-Planning Goals
    9. Chapter 7: Where There's a Will, There's Your Way!
      1. What Is a Will?
      2. Types of Wills
      3. Advantages and Disadvantages of Wills
      4. Intelligent Decisions Concerning Your Will's Basic Provisions
      5. Executing Your Will
      6. Where to Store Your Will
      7. Other Important Documents
      8. Working with Your Attorney
      9. When to Review Your Estate Plan
    10. Chapter 8: Using Trusts in Your Estate Plan
      1. The Credit Shelter Trust Will
      2. Disclaimers
      3. Marital Trusts
      4. Spendthrift Trust
      5. Standby Trust
      6. Other Trusts
    11. Chapter 9: Understanding the Living Trust
      1. Advantages of Living Trusts
      2. Disadvantages of Living Trusts
      3. How a Living Trust Operates
      4. Transferring Property into Your Living Trust
      5. Types of Property Likely to Be Transferred
      6. Living Trust Myths
      7. Transacting Business with Your Trust
    12. Chapter 10: Using Insurance in Your Estate Plan
      1. Life Insurance
      2. Using Life Insurance to Replace Income
      3. How Much Life Insurance Do You Need?
      4. What Type of Life Insurance Is Best for You?
      5. Insurance on a Homemaker
      6. Insurance on Adult Children
      7. How to Get the Best Deal on Term Life Insurance
      8. Insurance Warnings!
      9. Using Life Insurance for Estate Liquidity
      10. How Much Is Enough?
      11. What Type of Life Insurance Is Best for Estate Liquidity?
      12. The Irrevocable Life Insurance Trust
      13. Getting Your Life Insurance into Your Trust
      14. Using Life Insurance to Leverage Your Estate
      15. About Your Cash Values
      16. Long-Term Care Insurance
    13. Chapter 11: Smart Strategies for Gifting Assets to Family Members
      1. The Annual Gift Tax Exclusion
      2. Unintended Gifts
      3. Filing a Gift Tax Return
      4. The Lifetime Applicable Exclusion Amount
      5. Outright Gifts
      6. When the Donee Is a Minor
      7. Other Tax-Free Gifts
      8. Family Gifts Utilizing Trusts
      9. Grantor Retained Annuity Trust
      10. Grantor Retained Unitrust
      11. Qualified Personal Residence Trust
      12. Taking Advantage of Generation-Skipping Transfers
      13. Sales to Family Members
      14. Loans to Family Members
      15. Sales to Intentionally Defective Grantor Trusts
      16. The Legacy Trust
    14. Chapter 12: Strategic Planning with Charities
      1. Outright Gifts to Charities
      2. Testamentary Gifts to Charities
      3. Gifts Using Charitable Trusts
      4. Using Your Charitable Trust for Retirement Planning
      5. The Private Foundation
    15. Chapter 13: Family Limited Partnerships
      1. General Structure of the Family Limited Partnership
      2. Family Limited Partnership Rules
    16. Chapter 14: Succession Planning for the Family Business or Farm
      1. Special Estate Tax Benefits for Farmers and Closely Held Business Owners
      2. Valuing Your Business or Farm
      3. Succession or Sale?
      4. Succession Planning: Keeping the Family Business in the Family
      5. Maximizing Your Business's Value through a Sale
      6. Structuring Your Buy-Sell Agreement
      7. Types of Buy-Sell Agreements
      8. Funding the Buy-Sell Agreement
      9. One Final Strategy—The Employee Stock Ownership Plan
    17. Chapter 15: Asset Protection Strategies
      1. The Concept of Fraudulent Transfers
      2. A Word about Jointly Held Property
      3. Retirement Plans
      4. Life Insurance
      5. Using Trusts to Protect Assets
      6. Using Limited Liability Entities to Protect Assets
      7. Use of Multiple Limited Liability Entities
      8. Foreign Asset Protection Trusts
      9. Domestic Asset Protection Trusts
    18. Chapter 16: Personal Business Planning Issues
      1. Choosing the Right Entity for Your Business
      2. Closing Thoughts
      3. Importance of a Business Plan
    19. Epilogue: Dealing with Parents and Their Money
    20. Appendix A: Professional Advisers
    21. Appendix B: Estate Planning Terms
    22. Appendix C: IRS Life Expectancy Table
    23. Index
    24. End User License Agreement

    Product information

    • Title: JK Lasser's New Rules for Estate, Retirement, and Tax Planning, 5th Edition
    • Author(s): Stewart H. Welch III
    • Release date: October 2014
    • Publisher(s): Wiley
    • ISBN: 9781118929995