Enjoy the May/June 2016 Estate Planner!  Below is a preview of the topics.
Charitable IRA rollover offers significant benefits
At the end of last year, Congress reinstated — and made permanent — qualified charitable distributions from IRAs, also known as charitable IRA rollovers. For those age 70½ or older and who plan to make charitable donations this year, a charitable rollover can provide significant tax benefits. This article details the benefits of a rollover and its requirements. A sidebar explains how the rollover may satisfy one’s required minimum distributions for the year.
Postmortem planning: Add decanting provisions to a trust to increase trustee flexibility
An estate plan shouldn’t be a static document — meaning it should continue to be revised and updated as needed in light of major life changes or estate tax law changes up until death. Postmortem, trustees can have similar power to adapt a trust to changing circumstances. This technique is called “decanting” the trust. This article details the ins and outs of decanting a trust.
Don’t overlook tax apportionment when planning your estate
If one expects his or her estate to have a significant estate tax liability at death, he or she should pay attention to the tax apportionment clause in a will or revocable trust. An apportionment clause specifies how the estate tax burden will be allocated among beneficiaries. Omission of this clause, or failure to word it carefully, may result in unintended consequences. This article explains how an apportionment clause works and the pitfalls if it’s omitted.
Estate Planning Red Flag: You’re setting up trusts in your home state
While it’s natural to set up trusts in the state where one lives, this may result in losing out on significant benefits available in more “trust-friendly” states. This brief article explores the benefits of moving a trust to another state.