- 27 tips to planning an estate. Guaranteed to maximize the estate your heirs will
receive.
- Recent Tax Reforms have made estate planning easier in some ways, more difficult in
others. Learn how to use the law to your advantage.
- You thought income splitting was out after the Tax Reform of 1986. We show you five new
strategies. Page 352.
- How to disinherit the IRS. Perfectly legal. Page 168.
- Disinherit lawyers. Pages 68, 133, and 141. How to "custom" write your Will.
Chapters 3, 4, and 5. But wait...there's a better way to pass on the estate to your heirs.
See Chapters 10 and 11.
- Bad news: Clifford Trust is out. Good news: You can still use a tax shelter to fund your
child's education. Page 346.
- Joint and mutual Wills. A good idea ? They can hamstring your spouse and saddle him or
her with higher taxes. Page 369.
- But there's a better way. Husband and wife plan their estates together. Children
benefit. And you avoid the "second tax." Page 170.
- How not to lose your marital deduction. Page 371.
- Use life insurance as the cornerstone of your estate plan. Page 176. 1986 Tax Reform has
made it even more attractive. Page 346.
- Eleven pitfalls to avoid with your life insurance. Any one of them can cost your heirs a
bundle. Page 179.
- Not planning for potential future disability can bring unnecessary grief to your family.
For five most popular ways, see Page 299.
Dear Friend:
My past experience tells me that you'll find this
publication eye-opening and even shocking. But if you follow its advice it will dramatically change your children's inheritance - how much they get and how soon.
Mere mention of the word
"probate" is sufficient to send shivers up the spine of those who're had the
misfortune of going through one. For many, it's the ultimate insult our
judicial system can dish out to a bereaving family after the death of a breadwinner.
The Kit is a practical guide written specifically for a layperson and
shows you step-by-step, in language you can understand, various strategies and techniques
that can protect the family fortune from the taxman or lawyers and provide for the smooth
transfer of assets to your loved-ones.
This Edition of the
Estate Planning Kit offers the ultimate in planning for the future. Unlike other estate
planning books, this Kit is chock-full of illustrations, sample forms, actual examples and
case histories that you can immediately put to use in your own situation. Page after page,
it offers practical, urgently-needed help on virtually every subject: Wills, trusts -
revocable and irrevocable, state and federal taxes, life insurance, joint tenancy, gifts,
charity, annuity, probate and how to avoid it.
Smart Estate Planning: Peace of Mind and
Security
Been putting off making a
Will? Without a Will, the state will divide the property according to its laws and not
according to your wishes. Your property may go to someone you don't even know.
Without a Will, a
court-appointed administrator can take 3% to 5% of your estate in fees a year. Why deprive
your family of the money it will need so badly
Joint tenancy can be
disastrous for your family. It can actually deprive your children of their inheritance.
See P. 90.
Did you know that joint
tenancy can cost you a bundle in taxes? The surviving joint tenant does not get the
stepped up cost basis. See P. 93.
We show you how to own
the property. How to dispose of it. How best to preserve it for your family.
"Three identical
estates of $2,600,000 paid widely-differing amounts in estate taxes: Estate I paid
$833,000; estate II $543,000; estate III $511,000. Your clues are on P. 157-159.
How to avoid the second
tax. If you have an estate of $1,200,000, after the death of both parents, children could
end up paying $235,000 in tax. With proper planning, no tax at all. See P. 174.
"A possible
scenario: husband dies first, wife remarries and children are deprived of their
inheritance. Solution in Chapter 14.
Life insurance. How to
avoid the booby trap IRS may spring on you and claim a big chunk of money that should go
to your family. P. 183-183.
Life insurance trusts
can save on taxes and ensure an income for your family. See Chapter 17.
Gifts - an effective
estate planning tool. Use it wisely to reduce taxes.P.209
Private annuity can
reduce taxes and generate cash flow. See P. 266.
Should husband and wife own
real estate jointly or separately? See Chapters 7 and 26.
More than federal
estate tax, state inheritance taxes can put a bigger dent in your estate. See Tip No. 15
on Planning an Estate.
Estate planning for real
estate investor, see P. 295. Business owners and executives, see Chapter 25. Planning for
retirement, old age or disability, see Chapter 27.
How to set up an
"A-B" Living Trust and save big on estate tax and avoid probate. See P. 141.
How not to leave your
family "asset-rich" but "cash-poor" Provide liquidity in the estate.
P. 182.
Advantages and
disadvantages of incorporating your business after the latest tax reform. Or, should you
go for an S corporation? See Chapter 25.
Click
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