Simple Move Can Boost Your Estate-Tax Exemption – Barron’s

  Listen up, financial advisors: There’s a simple way to help wealthy clients shield more of their estates from taxes, yet it’s often overlooked. Newsletter Sign-up That’s according to InvestmentNews, which looks at what’s known as “portability” for married couples. This strategy allows a surviving spouse to inherit their deceased spouse’s estate-tax exemption, which – thanks to the 2017 tax law – currently stands at $11.4 million for individuals. That means the surviving spouse can pass down $22.8 million to … Continued

Estate Planning and Administration – Be Prepared for the Year That Follows the Death of a Loved One – Lexology

  The loss of a loved one is a traumatic event and it can be among the most challenging of times to make important financial decisions. Proactive planning with an attorney and financial planner can significantly lessen the burden. Here are a few things to consider. Be Prepared for the Immediate. Even if you have prepared, following a death, there are several steps that generally require immediate attention. These include (1) funeral arrangements, (2) guardianship of minors (3) liquidity needs … Continued

Lifetime Planning : Modern Machine Shop

  Joe has an estate plan that was completed 15 years ago. Now 66 years old and considering retirement, he recently reviewed the plan and found he was not comfortable with it. It includes a typical A/B trust for him and his wife Mary (age 64) and an irrevocable life insurance trust (ILIT) that holds a $4 million whole life policy on Joe. It does not, however, include provisions for supporting the couple during their lifetimes, nor does it maximize … Continued

Estate Planning in 2016: Here’s What You Need to Know — The Motley Fool

  Estate planning is a complex area of the law, with countless rules that can change from year to year. If you’re planning on doing estate planning for the first time in 2016, or merely want to make sure your current planning documents aren’t out of date, staying on top of the latest changes is crucial. Below, you’ll find some of the must-know facts that will affect estate planning in 2016. Estate Planning in 2016: Here’s What You Need to … Continued

A Wal-Mart Heir Is $27 Billion Poorer Than Everyone Thought – Bloomberg Business

WOW, how to lose $27 Billion in a flash.  I think I could get by with $5 Billion!!! Ever since Wal-Mart heir John T. Walton died 10 years ago in a plane crash, it’s been widely assumed that he passed the bulk of his vast estate to his widow, Christy. Turns out that was very wrong. In what’s been a closely guarded family secret, Walton gave half of his then-$17 billion estimated fortune to charitable trusts and a third to … Continued