Sentences with phrase «estate tax planning purposes»

For estate tax planning purposes, such an action can be most valuable as it will allow a surviving partner to prove his or her portion of ownership in the home, making the estate valuation of the first partner to die more equitable, and may also save costly estate tax dollars.

Not exact matches

Other goals remain close behind, including income production (4.1), asset value growth (4.0), tax purposes (3.7) and estate planning (3.5).

Having an updated business valuation is a great asset if ever approached by buyers, brokers, or DSOs, as well as for family, tax, succession and estate planning purposes.

Brookfield plans to create a new real estate investment trust under the ticker «BPR,» which will qualify as a REIT for tax purposes and issue shares in this transaction.

The tax information and estate planning information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice.

In addition to the new fees on for - hire services, the Assembly plan would impose a real estate transfer tax on residential and commercial properties valued above $ 5 million and a New York City - only surcharge on properties purchased solely for investment purposes.

Also, unlike 529 plans, UTMA / UGMA accounts are included in the estate of the account's custodian (parent or grandparent) for estate tax purposes.

Funds contributed to a 529 plan are considered to be a completed gift to the beneficiary for US gift and estate tax purposes.

The dual purpose of an ILIT is to provide for younger beneficiaries AND enable estate tax planning through what is called «gifting ``.

You want to use it for estate planning purposes because you're set to owe federal or state estate taxes on your assets

It's used primarily for estate planning purposes, as the estate tax is usually only payable at the second death.

The tax and estate planning information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice.

For estate tax planning and business continuity succession planning purposes, taxation is a negative result to be avoided.

«For someone later in life, it could be an estate planning purpose to buying life insurance to leave a legacy for a cherished beneficiary or to donate to charity or to cover income tax at death.»

Considerations for giving include the purpose of the gift, funding source, impact to income, estate tax planning and impact on family members from your contribution.

We recommend that you consult your estate planning attorney for purposes of drafting your will and for advice on the type of bequest that best fits your financial and tax situation.

Note: If your estate will be larger than the federal estate tax exemption amount, currently $ 5,120,000, this document is best used for education and planning purposes.

This involved advising on the restructuring of their multi-national business interests to segregate their shareholdings in foreign business and real estate for tax and dynastic planning purposes.

This is commonly used for Income Tax planning purposes for large estates to minimize the Income Tax paid on the Estate.

A practice of saving paperwork for one year after the relevant statute of limitations for a lawsuit expires is common, but some kinds of paperwork needs to be retained much longer such as vital statistics records (e.g. birth certificates, marriage certificates and divorce decrees) that can prove citizenship and marital status, documents showing the purchase price of property that may later be sold until it is sold (for tax purposes), documents that prove ownership of property that is still owned, documents that prove final payment of debts, many documents related to a divorce, and many documents related to estate planning.

He also assists individuals with the creation and implementation of complex estate plans for the purpose of achieving both tax and non-tax objectives.

According to Estate Planning, charitable donations aren't limited for estate tax purposes so there isn't a dollar limit to the policy that you leave bEstate Planning, charitable donations aren't limited for estate tax purposes so there isn't a dollar limit to the policy that you leave bestate tax purposes so there isn't a dollar limit to the policy that you leave behind.

These types of policies are most common for estate planning purposes where after both insureds pass, immediate cash is needed to settle an estate or mitigate larger tax bills due to estate tax laws.

However, if you need life insurance for such things as estate purposes, inheritance taxes, business reasons, or to set up a trust or donate to a charity, then you might be better advised to look at some other form of permanent insurance plan such as whole life or a universal life insurance policy.

If you are a key man in a business life insurance policy, or you need life insurance for estate planning or estate tax purposes, you may be able to qualify for more.

Tip — Universal life policies can be especially useful for estate planning purposes in situations where you're expecting a large estate tax due at death.

Tip — Whole life policies serve estate planning purposes well (particularly in situations where a large estate tax is expected at death).

My second is that it is covered in an article I recently came across in Investment News, which discusses how these cash value or universal life insurance policies (for the purpose of this blog post, the two are basically the same) were used by estate planning attorneys to fund irrevocable life insurance trusts to help alleviate estate tax obligations.

These policies are frequently used for estate planning purposes to leverage various tax deductions.

The tax - free death benefit makes MECs useful for estate planning purposes.

You want to use it for estate planning purposes because you're set to owe federal or state estate taxes on your assets

Because the death benefit is still tax free, a MEC is still useful for estate planning purposes.

For estate tax planning and business continuity succession planning purposes, taxation is a negative result to be avoided.

The death benefit of a whole life insurance policy can be received tax free by the beneficiaries, and for this reason whole life insurance is used for estate planning purposes as well as providing income for beneficiaries after the insured passes away.

Basically, last survivor life insurance is used by spouses for estate planning purposes and is a way to help ease the financial burden of estate taxes placed on your heirs.

The dual purpose of an ILIT is to provide for younger beneficiaries AND enable estate tax planning through what is called «gifting ``.

It serves as a great estate planning tool as it can be purchased by an irrevocable trust, with your heirs as the beneficiary and the insurance proceeds are kept out of the estate for tax purposes.

Prepared NY deeds and transfer tax forms for seven estate attorneys for estate planning purposes

Other goals remain close behind, including income production (4.1), asset value growth (4.0), tax purposes (3.7) and estate planning (3.5).

Lundquist Appraisal Company is available to appraise residential properties for divorce, estate planning / settlement, litigation, pre-listing, bankruptcy, foreclosure, purchase, refinance, loan modification, bail bond, FHA, property tax appeal, USDA, insurance purposes, short sale, pre-foreclosure, PMI removal, and more.

There are many purposes for an appraisal some of these are: sale or list price decisions, estate planning, tax or divorce settlement, tax assessment, refinance and mortgage lending purposes.

Our real estate appraisals are used for a variety of purposes including financial reporting, asset management, collateral financing, strategic planning, estate planning, property tax appeals, litigation support, and purchase price allocation.

In states like Florida and California with large senior populations, an increasing number of elderly homeowners are placing all or most of their assets — including their home — into a trust for tax and estate planning purposes.