This second part of a two-part article on everything practitioners should know about the estate tax covers estate tax planning techniques, including the marital deduction and the use of various types of trusts.
This first installment of a two-part article on everything practitioners should know about the estate tax includes the unified estate tax rules and exemption amounts, estate valuation, portability, and what’s included in the gross estate.
Shane Mason, tax supervisor at Raich Ende Malter & Co. LLP in New York City, received the 2017 P. Thomas Austin Personal Financial Planning Division Scholarship.
A beneficiary’s disclaimer could adjust the results of an existing irrevocable trust.
As wealthy Baby Boomers transfer their assets to Millennials, CPAs can help families preserve their assets and build loyalty to the firm by developing relationships with the younger heirs.
The annual scholarship is awarded to a CPA who has 15 years' or less experience in the workforce and less than 10 years' experience in estate planning.
A growing elderly population means an increasing number of clients losing spouses, and CPAs with strong emotional intelligence will have better relationships with their clients and get more referrals.
CPAs, their clients, and other advisers should review funded irrevocable trusts for these points.
It’s vital that your clients have certain documents in place to protect themselves and their assets in the event of their physical or mental incapacity.
When clients wait too long to plan, they can find themselves scrambling to pay unexpected bills.
The new law imposes a potentially elaborate reporting regime for values of estate property and ominous consequences for failures.
It’s important clients have a plan in place in the unlikely event that they will need to make medical or financial decisions on behalf of their college-student children.
Many charitable organizations will not accept a gift of an LLC or limited partnership units because the entity’s business is not part of their charitable mission.
Many practitioners still have some questions about when and how the IRD deduction is used.
This column can help clients visualize the consequences of not having an up-to-date plan.
This technique can help the donor achieve his or her charitable objectives, avoid capital gains tax, and distribute excess cash that has been accumulated in the corporation tax-free.
More than one-third (37%) of CPA financial planners said that elder financial abuse caused “substantial” emotional harm to clients, according to the new AICPA PFP Trends Survey.
Seemingly disparate services such as investment advisory, bill-paying, and estate planning all have a common denominator: the CPA’s involvement with other people’s money.
It is not unusual for a tax adviser to suggest that a client involved in estate tax planning leave some assets to a charity.
Many clients sign estate planning documents without paying much attention to the clauses they contain. One clause that few clients pay attention to is the one governing how that client’s incapacity could be determined—and therefore how the client could be removed from serving as a fiduciary or trustee. A high-profile