Private annuities offer tax planning advantages
Article Abstract:
Private annuities provide taxpayers with the opportunity to transfer wealth to children or other beneficiaries without many of the tax consequences of lump-sum transfers or transfers at death. A person transfers property to the child for the child's promise to make annual payments to the person for life. This arrangement removes the property from the estate, and income tax liabilities on appreciated property can be spread out over the life of the annuity. The annuitant cannot retain any interest in the property and the income from the annuity cannot be tied to income earned by the property.
Publication Name: Taxes: The Tax Magazine
Subject: Business
ISSN: 0040-0181
Year: 1996
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Should a trust be used as a will substitute?
Article Abstract:
The decision to use a will, a living trust or both documents should be based on the particular needs and finances of individual clients. A trust alone may not be appropriate if the client has minor children, has contingent creditors, or owns assets that do not lend themselves to being held in trust. Trusts may be advantageous for clients that have substantial assets that may otherwise be subject to estate taxation or have real property that will trigger probate in multiple states. In many instances, both a trust and a will will be necessary.
Publication Name: Taxes: The Tax Magazine
Subject: Business
ISSN: 0040-0181
Year: 1997
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Web-based financial and estate planning tools
Article Abstract:
World Wide Web sites which contain information or services valuable to clients of estate or financial planners are presented. Planners may wish to help clients with their choices of Web sites and online financial services. General estate and financial planning information is available in addition to more specific information covering topics such as home buying.
Publication Name: Taxes: The Tax Magazine
Subject: Business
ISSN: 0040-0181
Year: 1999
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