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Avoiding the Reciprocal Trust Doctrine |
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| Husband and Wife visit an estate planning attorney and decide to create an irrevocable life insurance trust (ILIT) to own a life insurance policy on the life of Husband, thereby excluding the death benefit on the policy from Husband's taxable estate. Their attorney prepares the ILIT for Husband's signature as More... |
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| Choosing an Estate Executor |
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| An executor is responsible for administering your estate when you die. It is important to choose the right type of person as executor, because the job often requires sensitivity and prudence to efficiently settle the estate. Things You Should ConsiderResponsibility is an obvious quality an executor should possess. Some additional More... |
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| Effective Estate Planning with Declining Interest Rates |
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| Interest rates are on the decline. For higher net worth individuals with charitable inclinations, the decline in interest rates is an important factor to consider when deciding which estate planning techniques are most advantageous for reducing estate taxes. Several estate planning techniques factor in Internal Revenue Code Section 7520, which More... |
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| Different Kinds of Wills |
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| If you wish to give part or all of your property to anyone after your death, you should create a will or trust documenting those wishes. Although all wills have the common purpose of disposing of your property after death, there are different ways to make a will and more More... |
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| Informal Wills: Holographic Wills |
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| Many different types of wills can be used to distribute property to your heirs after your death. One type, the "holographic will," is usually completely written in your own handwriting (or the material portion is), and may not necessarily need to be witnessed to make it valid. However, the laws More... |
