Julius Giarmarco Free Articles
The New Portability and Disclaimer Trusts
The Tax Relief Act of 2010 provides for a $5 million exemption (indexed for inflation in 2012) per person from federal estate and gift taxes, and a top tax rate of 35%. In addition, the unused portion of the estate tax exemption of the first spouse to die may be transferred to the surviving spouse (so-called “portability”).
Read MoreWhat's the Best Way to Pay a Business Owner's Estate Taxes?
A critical element to business succession planning is making certain the business owner’s estate will have the cash to pay estate taxes without having to sell the business. This article will examine the advantages and disadvantages of four such commonly used techniques – IRC Section 6166, IRC Section 303, Graegin loans, and life insurance.
Read MoreUsing Trusts to Protect Heirs
In general, the primary beneficiary has all the rights, benefits and control over the trust property that a person would have with outright ownership – in addition to tax, creditor and divorce protection not available with outright ownership.
Read MoreUsing Life Insurance in Business Succession Planning
This article summarizes the many ways that life insurance can be used in a family business succession plan, and the advantages of using life insurance.
Read MoreUsing a VUL Policy in Place of a Roth IRA or Section 529 Plan
This article compares VUL insurance as an alternative to Roth IRAs and Section 529 Plans for retirement and college savings.
Read MoreTrust-Owned Annuities
This article discusses, in detail, the income tax consequences of irrevocable trusts owning annuity contracts, and how to properly design such trusts.
Read MoreTop 10 Uses of Life Insurance in a Non-Taxable Estate
With the estate tax exemption likely to be fixed at $3.5 million, fewer and fewer decedents will have taxable estates. This article addresses how life insurance can still play an important role in non-taxable estates.
Read MoreTop 10 Uses of Life Insurance in a Family Business Succession Plan
Most family business owners want to keep the family business in the family. This article addresses how life insurance plays an important role in business succession planning.
Read MoreThree Levels of Business Succession Planning
One of the chief concerns facing family business owners is how to effect an orderly and affordable transfer of the business to the next generation and/or key employees. Failure to properly plan for a smooth transition can result in monetary losses and even loss of the business itself. This article will explain how to keep the family business in the family.
Read More*Switching* Irrevocable Life Insurance Trusts
This article discusses how to transfer a life insurance policy from an old ILIT to a new ILIT that contains the grantor’s current wishes.
Read MoreSpousal Lifetime Access Trusts
Learn how a spousal lifetime access trust (“SLAT”), a specially-designed irrevocable life insurance trust, allows the grantor-insured “indirect” access to the policy’s cash value.
Read MoreNon-Qualified Deferred Compensation Plans for Family Businesses
Broadly defined, a nonqualified deferred compensation (NQDC) plan is a contractual agreement in which an employer agrees to pay an employee later for services rendered currently.
Read MoreQualified Personal Residence Trusts
This article examines the wealth transfer opportunities, design features, and potential pitfalls of Qualified Personal Residence Trusts.
Read MorePrivate Annuities and Self-Canceling Installment Notes
Private annuities and self-canceling installment notes (“SCINs”), while similar in many respects, have their advantages and disadvantages when compared. Following is a brief description of private annuities and SCINs.
Read MorePlanning Opportunities with Partnership-Owned Life Insurance
This article explores two planning opportunities with partnership-owned life insurance – one involving estate planning and the other buy-sell planning.
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