Advanced Strategies

Typically used in estates requiring estate tax planning, there are many fascinating approaches and strategies to help reduce or eliminate estate taxes.

Last Week in Estate Planning (July 17 to July 23, 2011)

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One of my favorite passages in literature comes from Devotions Upon Emergent Occasions, Meditation XVII, by poet John Donne, written in 1624:  Read more...

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Last Week in Estate Planning (July 10 to July 16, 2010)

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When the best in online reading on estate planning involves traditional Jewish stews, baseball, and a lawsuit involving the inability of an apparently dead person to refinance her mortgage, you know it’s going to be a fun week. Enjoy these posts and articles that I thought were the most interesting and helpful during the week…

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Choice of Entity (Part II): An Example

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In Part I of our business entity discussion yesterday, we touched upon the biggest concerns of most business owners and used them in a mini-chart describing six major business entities. Today, we’ll work through the six main entities again through an example that will hopefully further clarify the subject further.  Read more...

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Choice of Entity (Part I): Common Concerns and a Comparison

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It is a common recommendation for new business owners to think closely about the type of business entity that is most appropriate for their new enterprises.  The various business entities have different applicable rules and there is no one business form that is appropriate for everyone. Major Concerns of Business Owners When deciding on a…

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Don’t Have $5 Million? 50 Reasons to Get an Estate Plan Anyway

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“Estate Planning” is somewhat of a misnomer.  For example, let’s check out The Free Dictionary’s definition of “estate”. You’ll find that the majority of the 8 provided definitions associate the term either with land or with some kind wealth, social position, or political power.  Read more...

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Business Succession Planning: Gifting and Discounting Basics

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If you currently own a business, estate planning is probably not one of your highest priorities.  You are certainly more concerned about where your income is coming from, how to beat the competition, and how you can better develop your product and service.  Read more...

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1600 Words about a 100-Word Addition to Virginia Trust Law (Part III)

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In the first two parts of this topic, we covered the attempt to unify trust law throughout the United States and Virginia’s brief new amendment to its version of the Uniform Trust Code.  Now, to close the loop, we conclude by giving further detail to two important types of marital deduction trusts briefly mentioned in…

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1600 Words About a 100-Word Addition to Virginia Trust Law (Part II)

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In Part I of our discussion, we introduced the Uniform Trust Code and why Virginia would deviate from it.  Today, we explain Virginia’s rationale for changing its law on creditors’ rights to annual gifts into a trust and to inter-vivos marital deduction trusts. What was Virginia’s concern regarding annual gifting into a trust?  Read more...

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5 Estate Planning Ideas for Cliff Lee (& Other Pro Athletes)

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I am a life-long Phillies fan.  Imagine my pure delight when I heard that on Monday, elite pitcher Cliff Lee signed a 5-year, $120 million deal (plus a potential 6th if he reaches certain goals) with my phavorite team to help shepherd in a new era of excellence.  For more information, type “Cliff Lee” into…

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The Estate Tax Debate: Some Behind-the-Scenes Concerns

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A $5 million estate tax exemption with a lower estate tax rate?  Executive Branch vs. Legislative Branch?  Democrats vs. Republicans?  These are exciting times for estate planning enthusiasts.  I have always wondered why there was never a “Law and Order” or “L.A. Law” type of show featuring estate planning lawyers.  “No, Ms. Senior Partner, a…

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