Tax-free transfers from IRAs to CRTs and CGAs
By Christopher R. Hoyt, JD
Donors ages 70½ and above have been benefiting from the tax advantages that come with making charitable contributions straight from their IRAs to donor-advised funds or private foundations for more than 15 years. This approach has not only enabled donors to support causes dear to them but has also provided some tax advantages. However, amidst the evolving landscape of charitable giving options, a recent development offers a new option for experienced donors to magnify their giving potential while still receiving an income stream from their donated funds.
Using IDITs to reduce taxes and protect assets.
By Jeff Chadwick, JD
The current federal transfer tax exemptions are set to expire by the end of 2025, and proactive estate planning is more critical than ever. This guide by Jeff Chadwick, JD, offers essential insights into navigating the complexities of estate taxes and safeguarding your legacy. Highlighting the strategic use of intentionally defective irrevocable trusts (IDITs), the article provides information about the impending tax implications and strategies for efficient wealth transfer.
IDITs: What advisors need to know.
By Jeff Chadwick, JD
Imminent changes to estate- and gift-tax exemptions make astute estate planning crucial for safeguarding clients’ wealth. In this timely article, Jeff Chadwick, JD, equips financial advisors with strategies to adapt to the shifting tax environment and prioritize their clients’ asset preservation. Providing an overview of intentionally defective irrevocable trusts (IDITs), he discusses how these trusts can be used as a tool to minimize federal estate transfer taxes while considering the unique circumstances of each client.
The importance of employee retention plans: A guide for employers
By Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished)
In today’s dynamic job market, employee turnover is inevitable, but a robust employee retention program can significantly reduce the loss of key personnel, safeguarding an organization’s growth and stability. In this article from Robert Keebler, employers can learn how to adapt to the evolving job landscape and prioritize retaining their most valuable assets – the dedicated and skilled employees that make the business successful.
Employee retention plans: A guide for advisors
By Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished)
As an advisor, you know how important employee retention is for clients who own a business. The “Great Resignation” reshaped the workforce, but as Robert Keebler says, it’s also a “Great Upgrade” – an opportunity for employers to elevate their employee retention game. In this article, Keebler describes various strategies, such as non-qualified deferred compensation plans, that can help your clients keep their key employees onboard.
The importance of buy-sell agreements
By Patricia M. Annino, JD, LL.M.
All owners of an enterprise who share ownership of assets (and hopefully the visions and values that created them) are connected emotionally and financially to all other members of the enterprise. In a “common wealth” system, every action has a reaction. A shock to any part of the system reverberates through the entire system.
Benefits and pitfalls of buy-sell agreements
By Patricia M. Annino, JD, LL.M.
Thanks to the excellent estate planning advice lawyers and CPAs have provided clients over the past 20 years, almost every high-net-worth family has a business. Many formed family limited partnerships and LLCs to own rental or commercial real estate. However, while buy-sell agreements have become essential for conventional businesses with unrelated owners, they are less common among the growing number of intrafamily business entities.