Making estate planning fun (again?)

Article Abstract:

The author presents ways for attorneys who do estate planning to ease the stress of performing a job which involves constant change in laws and regulations.

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Capital gains rate cut: a mixed estate planning blessing

Article Abstract:

The Taxpayer Relief Act of 1997 has benefits for estate planning which are diminished by the extremely complex provisions. The reduction in the top long-term capital gains rate from 28% to 20% will benefit most estate plans. Estates containing high value gifts of appreciated properties will particularly benefit from the change especially if certain trust forms are utilized. Administrators of charitable remainder trusts which are taxed in tiers may have accounting problems trying to adjust the new rate to tier percentages.

Laws, regulations and rules, Capital gains tax

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State court approval results in estate tax exclusion of incompetent's gifts

Article Abstract:

The IRS in Letter Ruling 9839018 provides guidance regarding completed gift transactions made by guardians on behalf of incapacitated persons. The legal guardians in the ruling acted according to state law when they obtained advance court approval for their actions. The ruling provides hope for positive tax treatment in cases where estate planning instruments omit powers of attorney or other authorizations for gifting powers in cases of incapacity.

Personal Tax Planning, States, Methods, Planning, Personal finance, Tax planning, Influence, Capacity and disability, Guardian and ward, Guardianships

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