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J.K. Lasser's New Rules for Estate, Retirement, and Tax Planning


J.K. Lasser's New Rules for Estate, Retirement, and Tax Planning


J.K. Lasser 6. Aufl.

von: Stewart H. Welch, J. Winston Busby

16,99 €

Verlag: Wiley
Format: PDF
Veröffentl.: 05.02.2019
ISBN/EAN: 9781119559115
Sprache: englisch
Anzahl Seiten: 352

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Beschreibungen

<p><b>The popular handbook to estate planning, now updated for 2018</b></p> <p>Since its first publication in 2002, <i>New Rules for Estate, Retirement, and Tax Planning</i> has sold more than 40,000 copies, providing a solid, accessible introduction to estate planning for any age or income bracket. Now in its sixth edition, <i>Estate, Retirement, and Tax Planning</i> continues this tradition, covering such topics as trusts, donations, life insurance, and wills in easy-to-understand language that offers valuable insights and solid strategies to help you preserve your wealth and plan your estate so that your assets go where you want with a minimum of taxes and government interference. This comprehensive guide answers such common questions as: How much do I need to retire comfortably? How do I protect my children’s inheritance? How do I ensure planned donations are made after I’m gone? And many more.</p> <p>The Sixth Edition is also fully updated to reflect changes following the 2018 Tax Cuts and Jobs Act, so that you can learn how new regulations could impact your inheritance and trusts. Other notable features include advice on working with elderly parents and introducing financial planning to children and teenagers, in addition to a list of professional advisers and a glossary of estate planning terms.</p> <ul> <li>Understand estate planning and obtain solid strategies for growing your wealth</li> <li>Explore asset protection and succession planning strategies</li> <li>Discover how recent updates to the tax code could affect you and your heirs</li> <li>Stay informed of any relevant law changes with an author-managed web site</li> </ul> <p><i>Estate, Retirement, and Tax Planning </i>contains a wealth of valuable information for any adult who needs help planning their financial future, from the established professional heading toward retirement, to the young adult looking to understand the basics. Wherever you are in your journey, use <i>Estate, Retirement, and Tax Planning</i> to ensure your legacy is protected.</p>
<p>Acknowledgments xi</p> <p>Introduction xv</p> <p><b>1 Tax Cuts and Jobs Act of 2017 1</b></p> <p>Ordinary Income Tax Rates 2</p> <p>Capital Gains Tax Rates and Qualified Dividends 2</p> <p>Educational Provisions 2</p> <p>Business and Corporate Tax Relief 5</p> <p>Estate, Gift, and Generation-Skipping Transfers 6</p> <p>Dangers of Relying on Portability 9</p> <p>Limitations on Deductions 11</p> <p><b>2 Estate Planning 15</b></p> <p>What Is Estate Planning? 15</p> <p>The Benefits of Estate Planning 16</p> <p>The Nightmares of Poor Planning 18</p> <p>The Myths of Estate Planning 19</p> <p>Guidelines for Successful Estate Planning 20</p> <p><b>3 The Estate Tax System 23</b></p> <p>Determining Your Estate Net Worth 23</p> <p>Your Estate Tax Picture 29</p> <p>Your Future Estate 33</p> <p>Overview of Estate-Planning Strategies 35</p> <p><b>4 Investment Strategies for Maximizing Estate Growth 37</b></p> <p>Growth Strategy with a Safety Net® 38</p> <p>Prioritizing Your Investment Dollars 43</p> <p>Retirement Planning: Choosing the Best Investment</p> <p>Environments 43</p> <p>Roth Conversions 46</p> <p>Some Final Thoughts on Investing 53</p> <p><b>5 Retirement Planning: Living Your Dream 55</b></p> <p>Your Retirement Requirements 56</p> <p>Best Retirement Strategies 61</p> <p>Reverse Mortgages 67</p> <p>Social Security Strategies 70</p> <p>Customizing Your Health Care Plan 75</p> <p><b>6 You Don’t Have a Will? Big Trouble! 79</b></p> <p>Property Transfers at Death 80</p> <p>Transfers via Probate 81</p> <p>Direct Transfers by Title 84</p> <p>Other Methods of Property Ownership 88</p> <p>Choosing the Best Methods of Ownership 90</p> <p>Setting Estate-Planning Goals 91</p> <p><b>7 Where There’s a Will, There’s Your Way! 93</b></p> <p>What Is a Will? 93</p> <p>Types of Wills 93</p> <p>Advantages and Disadvantages of Wills 95</p> <p>Intelligent Decisions Concerning Your Will’s Basic Provisions 97</p> <p>Executing Your Will 110</p> <p>Where to Store Your Will 111</p> <p>Other Important Documents 111</p> <p>Working with Your Attorney 115</p> <p>When to Review Your Estate Plan 121</p> <p><b>8 Using Trusts in Your Estate Plan 125</b></p> <p>The Credit Shelter Trust Will 126</p> <p>Disclaimers 131</p> <p>Marital Trusts 132</p> <p>Spendthrift Trust 136</p> <p>Standby Trust 137</p> <p>Other Trusts 137</p> <p><b>9 Understanding the Living Trust 139</b></p> <p>Advantages of Living Trusts 139</p> <p>Disadvantages of Living Trusts 141</p> <p>How a Living Trust Operates 142</p> <p>Transferring Property into Your Living Trust 145</p> <p>Types of Property Likely to Be Transferred 148</p> <p>Living Trust Myths 150</p> <p>Transacting Business with Your Trust 152</p> <p><b>10 Using Insurance in Your Estate Plan 153</b></p> <p>Life Insurance 153</p> <p>Using Life Insurance to Replace Income 156</p> <p>How Much Life Insurance Do You Need? 157</p> <p>What Type of Life Insurance Is Best for You? 160</p> <p>Insurance on a Homemaker 161</p> <p>Insurance on Adult Children 161</p> <p>How to Get the Best Deal on Term Life Insurance 161</p> <p>What Type of Life Insurance Is Best for Estate Liquidity? 164</p> <p>The Irrevocable Life Insurance Trust 166</p> <p>Getting Your Life Insurance into Your Trust 167</p> <p>Using Life Insurance to Leverage Your Estate 170</p> <p>About Your Cash Values 173</p> <p><b>11 Smart Strategies for Gifting Assets to Family Members 179</b></p> <p>The Annual Gift Tax Exclusion 179</p> <p>Unintended Gifts 181</p> <p>Filing a Gift Tax Return 182</p> <p>The Lifetime Applicable Exclusion Amount 182</p> <p>Outright Gifts 183</p> <p>When the Donee Is a Minor 185</p> <p>Other Tax-Free Gifts 194</p> <p>Family Gifts Utilizing Trusts 195</p> <p>Grantor Retained Annuity Trust 195</p> <p>Grantor Retained Unitrust 197</p> <p>Qualified Personal Residence Trust 197</p> <p>Taking Advantage of Generation-Skipping Transfers 201</p> <p>Sales to Family Members 204</p> <p>Loans to Family Members 207</p> <p>Sales to Intentionally Defective Grantor Trusts 208</p> <p>The Legacy Trust 208</p> <p><b>12 Strategic Planning with Charities 219</b></p> <p>Outright Gifts to Charities 220</p> <p>Testamentary Gifts to Charities 223</p> <p>Gifts Using Charitable Trusts 223</p> <p>Using Your Charitable Trust for Retirement Planning 227</p> <p>The Private Foundation 230</p> <p><b>13 Family Limited Partnerships 235</b></p> <p>General Structure of the Family Limited Partnership 235</p> <p>Family Limited Partnership Rules 240</p> <p><b>14 Succession Planning for the Family Business or Farm 249</b></p> <p>Special Estate Tax Benefits for Farmers and Closely Held Business</p> <p>Owners 251</p> <p>Valuing Your Business or Farm 253</p> <p>Succession or Sale? 253</p> <p>Succession Planning: Keeping the Family Business in the Family 254</p> <p>Maximizing Your Business’s Value through a Sale 255</p> <p>Structuring Your Buy-Sell Agreement 256</p> <p>Types of Buy-Sell Agreements 257</p> <p>Funding the Buy-Sell Agreement 258</p> <p>One Final Strategy—The Employee Stock Ownership Plan 260</p> <p><b>15 Asset Protection Strategies 263</b></p> <p>The Concept of Fraudulent Transfers 263</p> <p>A Word about Jointly Held Property 267</p> <p>Retirement Plans 267</p> <p>Life Insurance 269</p> <p>Using Trusts to Protect Assets 270</p> <p>Using Limited Liability Entities to Protect Assets 271</p> <p>Use of Multiple Limited Liability Entities 274</p> <p>Foreign Asset Protection Trusts 275</p> <p>Domestic Asset Protection Trusts 277</p> <p><b>16 Personal Business Planning Issues 281</b></p> <p>Choosing the Right Entity for Your Business 281</p> <p>Closing Thoughts 293</p> <p>Importance of a Business Plan 295</p> <p>Epilogue—Dealing with Parents and Their Money 297</p> <p>Appendix A—Professional Advisers 299</p> <p>Appendix B—Estate Planning Terms 303</p> <p>Appendix C—IRS Life Expectancy Table 309</p> <p>About the Authors 313</p> <p>Index 315</p>
<p><b>STEWART H. WELCH, III, AEP<sup>®</sup>, CFP<sup>®</sup>,</b> is a nationally recognized, fee-only financial advisor. The author of six books, he is founder of The Welch Group, which manages in excess of $1 billion for a nationwide clientele. <p><b>J. WINSTON BUSBY, ESQ, LLM,</b> counsels clients on tax and estate planning. He is co-author of the<i> New Rules for Estate, Retirement, and Tax Planning, Fifth Edition,</i> and writes regularly on income and transfer tax planning.
<p>BUSINESS & ECONOMICS/PERSONAL FINANCE/TAXATION <p><b>The updated bestseller on growing and protecting your wealth</b> <p>You've worked hard your entire life and you've managed to accumulate assets. Don't let them go to taxes instead of the people and charities you love. This book helps you sidestep the minefield of confusion, assumptions, and misunderstanding to plan your financial future the way you want it, regardless of age or income level. 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 with information on retirement planning, trusts, charitable contributions, gifts, and wills. <p>This fully revised and updated sixth edition of <i>New Rules for Estate, Retirement, and Tax Planning</i> fully exposes how to keep your financial goals on track within The Tax Cuts and Jobs Act of 2017. Preserve your wealth and ensure your estate is managed to your wishes with the least possible taxes and government interference by: <ul> <li>Gaining a foundation in how the latest tax reform law impacts your inheritance and trusts</li> <li>Implement time-proven strategies for growing and managing wealth</li> <li>Avoid the most common pitfalls of retirement planning, creating wills and trusts, philanthropic donations, and much more</li> </ul>

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