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Full-Text Articles in Law
Gift Tax Returns As A Planning Strategy, Daniel J. Walsh
Gift Tax Returns As A Planning Strategy, Daniel J. Walsh
Marquette Elder's Advisor
Timely filing of a properly prepared gift tax return will begin the statute of limitations period for revaluing the gift for gift tax purposes, but not necessarily for estate tax purposes. Walsh describes how the Taxpayer Relief Act of 1997 (TRA'97) can provide a taxpayer with potential solutions and describes how the final regulations provide planning opportunities for attorneys to assist their clients.
Tax Rules Relating To The Sale Of A Principal Residence, Bradley Frigon
Tax Rules Relating To The Sale Of A Principal Residence, Bradley Frigon
Marquette Elder's Advisor
No abstract provided.
Retirement Account Distributions: A Journey Through The New Rules, Catherine M. Priebe Hertzberg
Retirement Account Distributions: A Journey Through The New Rules, Catherine M. Priebe Hertzberg
Marquette Elder's Advisor
This article examines new proposed regulations that make changes to minimum required distribution rules for IRAs and other retirement accounts
New Regulations Simplify Required Distributions From Iras And Certain Qualified Deferred Compensation Plans, Richard Mandel
New Regulations Simplify Required Distributions From Iras And Certain Qualified Deferred Compensation Plans, Richard Mandel
Marquette Elder's Advisor
In April 2002, the IRS released new regulations that greatly simplify the rules regarding required distributions from IRAs and certain qualified retirement plains. This articles summarizes these new rules by applying them to the two categories into which each retiree must fall and analyzing the effect of the four possible beneficiary designations available to retirees.
Post-Mortem Ira Planning For The Surviving Spouse, Greg Reymann
Post-Mortem Ira Planning For The Surviving Spouse, Greg Reymann
Marquette Elder's Advisor
In 2002, the IRS issued simplified regulations governing required minimum distributions (RMDs) for IRAs. The new rules make elections at the time of one's required beginning date obsolete, and shift the deadline for many of the planning options to a specified date following the IRA owner's death. This article discusses those planning options faced by the surviving spouse.
Employment Tax Issues In Home Health Care Contracts, Ben A. Neiburger
Employment Tax Issues In Home Health Care Contracts, Ben A. Neiburger
Marquette Elder's Advisor
Seniors may receive care for which they pay the provider without realizing the tax implications if they are deemed the employer of the provider. Neiburger discusses the sometimes confusing differences between and independent contractor and an employee, and the various taxes and penalties, both federal and state (Illinois as an example) for which employers are responsible.
Carryover Basis For Gifts & Joint Tenancies, Nell Graham Sale
Carryover Basis For Gifts & Joint Tenancies, Nell Graham Sale
Marquette Elder's Advisor
This section discusses how carryover basis is established and adjusted when property, including real property and financial instruments, is gifted (including gift tax adjustments). Implications of revocable and irrevocable trusts are explored, and issues involving the use of joint tenancy, especially those that might apply to today's elderly, are examined.
Elders And End-Of-Life Medical Decisions: Legal Context, Psychological Issues, And Recommendations To Attorneys Serving Seniors , Ed De St. Aubin, Sheila Baer, Joan Ravenelli Miller
Elders And End-Of-Life Medical Decisions: Legal Context, Psychological Issues, And Recommendations To Attorneys Serving Seniors , Ed De St. Aubin, Sheila Baer, Joan Ravenelli Miller
Marquette Elder's Advisor
Much more than the disposition of worldly goods must be considered when preparing legal documents for end-of-life situations. This article stresses the necessity of client autonomy in preparing dispositional gifts as well as decision planning for medical care and treatment for senior citizens, and also explains the concept of Generatively: the desire to contribute to the well-being of . . . future generations.
Maximizing The Benefits Of Estate Planning Bet-To-Die Strategies: Clats And Private Annuities , Peter Melcher, Matthew Zuengler
Maximizing The Benefits Of Estate Planning Bet-To-Die Strategies: Clats And Private Annuities , Peter Melcher, Matthew Zuengler
Marquette Elder's Advisor
Because the IRS must normally use actuarial tables to determine life expectancy, particular persons whose life expectancy may be much shorter than projected may be able to preserve a much larger than usual portion of family assets through the use of Charitable Lead Annuity Trusts (CLATS) or private annuity sales. The advantages, disadvantages, and basic tax considerations of each are shown through several detailed examples.