Tools and Techniques of Estate Planning

by Leimberg

• ISBN13: 9780872182912
• ISBN10: 0872182916
• Edition: 12th
• Format: Paperback
• Copyright: 2002-01-01
• Publisher: Prentice Hall

Summary

Gain a practical, working knowledge of estate planning to give your clients the best financial security. Master resourceful estate planning including acquisition, preservation, and distribution to accomplish your client's tax and non-tax objectives.

Table of Contents

Dedication	iii
About the Authors	iv
Acknowledgments	vi
Preface	vii
Introduction and Bibliography	ix
Tools and Techniques
Buy-Sell (Business Continuation) Agreement	1	(18)
Charitable Contributions	19	(14)
Charitable Split Interest Trusts	33	(10)
Conservation Easement Exclusion	43	(4)
Deferred Compensation (Nonqualified)	47	(10)
Disclaimers	57	(6)
Durable Power of Attorney	63	(6)
Elderly and Disabled (Planning for)	69	(4)
Employee Stock Ownership Plan	73	(10)
Extensions of Time to Pay Federal Estate Tax	83	(6)
Family Limited Partnerships	89	(16)
Family-Owned Business Deduction	105	(4)
Freezing Techniques --- Corporations and Partnerships	109	(10)
Generation-Skipping Transfers	119	(16)
Gifts	135	(14)
HR-10 (Keogh) Retirement Plan for the Self-Employed	149	(8)
Incorporation	157	(14)
Individual Retirement Plans (and SEPs)	171	(12)
Installment Sales and SCINs	183	(14)
Interest-Free and Below Market Rate Loans	197	(6)
Life Insurance	203	(20)
Limited Liability Companies	223	(6)
Medical Expense Reimbursement Plan	229	(4)
Non U.S. Persons (Planning for)	233	(6)
Personal Holding Company	239	(6)
Power of Appointment	245	(8)
Private Annuity	253	(10)
Profit-Sharing/Pension Plan	263	(26)
S Corporation	289	(10)
Sale (Gift) --- Leaseback	299	(8)
Section 303 Stock Redemption	307	(6)
Split Interest Purchase of Property (Split)	313	(4)
Survivor's Income Benefit Plan	317	(6)
Trust --- Defective	323	(4)
Trust --- Grantor Retained Interests (GRAT, GRUT, QPRT)	327	(10)
Trust --- Irrevocable Life Insurance	337	(8)
Trust --- Marital Deduction and Bypass	345	(20)
Trust --- Revocable	365	(10)
Trust --- Section 2503(b) and 2503(c)	375	(6)
Trust --- Tax Basis Revocable	381	(4)
Uniform Gifts/Transfers to Minors Acts	385	(4)
Valuation Planning	389	(34)
Wills	423	(254)
Appendix A
The First Interview	431	(46)
What is estate planning?	431	(1)
Who needs estate planning?	432	(1)
What are the tools of property transfer?	433	(4)
How do the federal estate tax laws work?	437	(2)
The 10 most common estate planning mistakes	439	(5)
Optional checklist for discussion	444	(33)
Community Property	477	(1)
Anatomical gifts	478	(2)
Data Gathering and Analysis: Forms	480	(19)
Sample information request letter	482	(1)
Personal and confidential file	483	(7)
Information and documents for estate planning	490	(9)
Annual Review Checklist	499	(1)
Checklist of Information To Keep in Safe Deposit Box	500	(1)
Appendix B
Selection of Executor, Trustee, and Attorney	501	(18)
How to Review a Will	519	(10)
Death Sensitization for the Estate Planner	529	(10)
Probate --- A Primer for the Could-Be Executor	539	(6)
Checklist of Executor's Primary Duties	545	(1)
Choosing an Entity --- A Checklist of Issues to Consider	546	(3)
Appendix C
Computing the Federal Estate Tax	549	(17)
Computing the Federal Gift Tax	566	(29)
Income Taxation of Trusts and Estates	595	(4)
How Basis Is Determined	599	(5)
Post Mortem Tax Elections Checklist	604	(3)
Appendix D
Income Tax Rate Schedules	607	(2)
Gift and Estate Tax Rate Schedules	609	(2)
Unified Credit	611	(1)
Maximum Credit Table for State Death Taxes	612	(1)
Working with the IRS Valuation Tables	613	(4)
Valuation Tables	617	(30)
1980 Commissioners Standard Ordinary Mortality Table	647	(1)
Table V --- Life Expectancies	648	(1)
Figuring Compound Interest and Annuity Values	649	(4)
Appendix E
Unauthorized Practice of Law	653	(3)
Ethics --- What the Estate Planner Must Know	656	(5)
Malpractice in Estate Planning	661	(13)
Internet in Estate Planning	674	(3)
Index	677