Estate Planning

Inbunden, Engelska, 2016

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Beskrivning

Plan ahead: estate planning to secure your wishes Estate Planning is your overview of the estate planning concepts that are necessary to consider when advising your clients about the different facets of wealth transfer planning. This fundamental reference presents the basic estate, gift, and trust planning ideas in a descriptive and accessible manner—allowing you to easily and conveniently access the information you need when you need it. This essential text covers the development of estate planning strategies for your clients, the fundamentals of the federal transfer tax system, relevant federal income tax rules, lifetime donative asset transfers, gratuitous property transfers at death, generation-skipping transfers, special property transfer planning considerations, and post-mortem planning. When done effectively, estate planning enables your clients to make both lifetime and testamentary transfers of assets to beneficiaries of their choice. In the process, strategic, successful estate planning strategies conserve wealth for these beneficiaries, who are often family members of the client. Leveraging the right methods of estate planning can ensure that you achieve your client's objectives. Explore the fundamentals of estate planning as they relate to wealth transfer planningDive into special property transfer planning considerations, including community property, life insurance, charitable transfers, closely held corporations, etc.Better serve your clients by having access to relevant, easy to navigate information on estate planning best practicesReinforce these new ideas with a comprehensive test bankEstate Planning is your guide to estate planning concepts that help you protect your assets during wealth transfer—and prepare for your assets to change hands as smoothly as possible.

Produktinformation

Utgivningsdatum:2016-03-18
Mått:188 x 257 x 58 mm
Vikt:1 520 g
Format:Inbunden
Språk:Engelska
Serie:Wiley Corporate F&A
Antal sidor:736
Förlag:John Wiley & Sons Inc
ISBN:9781119157120

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Mer om författaren

WILLIAM P. STRENG is a professor at the University of Houston Law Center, where he teaches federal income taxation, corporate tax, international tax, and estate planning. During his career, he was deputy general counsel for the Export-Import Bank of the United States, an attorney with the U.S. Treasury Department, and taught at universities all over the world. He is the author of numerous books, portfolios, and articles dealing with a variety of tax subjects.

Innehållsförteckning

About the Author ixIntroduction 1Chapter 1 Estate Planning Objectives 3Notes 5Chapter 2 Inventory of the Client’s Assets and Objectives 9A. Scope of Factual Analysis 9B. Family 9C. Assets and Liabilities 10D. Cash Flow Analysis 11E. Present Objectives for Estate Disposition 11Notes 12Chapter 3 Preliminary Estate Planning Considerations 15A. Expanded Responsibilities of the Professional Tax Advisor 15B. Facilitating Lifetime Capital Formation 16C. Fundamental Federal Income Tax Planning 17D. Managing and Structuring the Closely Held Business Ownership: Family Business Succession Planning 18E. Additional Important Preliminary Planning Inquiries 19F. Financial Adequacy of the Estate 22G. Hypothetical Probate Administration 23H. Lifetime Asset Management 23Notes 24Chapter 4 The Basic Federal Transfer Tax and Income Tax Structure 29A. Estate, Gift, and Generation‐Skipping Transfer Taxes 29B. Related Federal Income Tax Considerations 45Notes 52Chapter 5 Fundamental Testamentary Planning 81A. Basic Mechanisms for Transferring Property 82B. Trusts 94C. Credit Shelter Trust 112D. Estate Tax Marital Deduction Transfers 114E. Powers of Appointment 158Notes 167Chapter 6 Lifetime Asset Transfers 223A. Lifetime Gifts—Arguments for and Against 223B. Basic Federal Tax Considerations 225C. Methods of Completing Gifts 232D. Specific Types of Gifts 234Notes 255Chapter 7 Intrafamily Transfer Alternatives to Gifts 285A. Intrafamily Sale/Leaseback or Gift/Leaseback 286B. Intrafamily Installment Sales 287C. Interest-Free Loans of Money 293D. Loans of Property or Credit 297E. Tax-Free Property Exchanges with Family Members 298F. Private Annuities 300G. Joint or Split Purchases 310H. Sale of Remainder Interest in Property 317I. Grantor Retained Annuity Trust and Unitrust 321J. Personal Residence Trusts 327K. Transfers of Family Properties Summarized 337Notes 337Chapter 8 Generation-Skipping Transfers 361A. Purpose of the Generation-Skipping Transfer Tax 361B. Definitional Provisions 362C. Tax Computation 365D. Exemptions 369E. GST Tax Planning Considerations 370Notes 371Chapter 9 Special Nonprobate Planning Situations 377A. Joint Property 377B. Community Property 383C. Life Insurance 394D. Commercial Annuities 408E. Charitable Transfers 411F. Foreign Trusts 426Notes 431Chapter 10 Special Business Planning Situations 475A. Family Business Planning Options 475B. Closely Held Family Corporations 476C. Closely Held Partnerships and Limited Liability Companies 492D. Special Valuation for Family Farms and Real Property 502E. Qualified Family‐Owned Business Interests 511Notes 514Chapter 11 Special Executive Compensation/Deferred Benefits Estate Planning 543A. Executive Compensation Planning 543B. Qualified Pension and Profit‐Sharing Plans 552C. Self‐Employed Individual 558D. Individual Retirement Account 559E. Business‐Originated Life Insurance 561Notes 569Chapter 12 Post‐Mortem Estate Planning 591A. Planning Options 591B. Income Tax Planning Opportunities 592C. Renunciations and Disclaimers 597D. Waiver of Fee by Fiduciary 600E. Solving Estate Liquidity Problems 601F. Alternate Valuation 609Notes 610Chapter 13 Estate Planner–Client Relationship 627A. Professional’s Responsibility 627B. Determining the Amount of the Estate Planner’s Fee 632C. Income Tax Deduction of Estate Planning Fees 633Notes 636Appendix: Worksheets 647Bibliography 721