Barry BoscoeNov 2, 20218 minA $5,000,000 Present from the GovernmentThe government has put on our plates a once in a million, lifetime gift of a $5,000,000 tax break. Never before has this type of gift...
Barry BoscoeNov 2, 20214 minCorporate TrusteesOne of the most important decisions in drafting a trust is who will act as trustee. The obvious choices are friends and family, but this...
Barry BoscoeNov 2, 20213 minCredit Shelter TrustWith the passage of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Relief Act) , many planners...
Barry BoscoeNov 2, 20212 minEstate Planning DefinedThere are four elements to estate tax planning available to you and only four: Gifts, Discounts, Charity, and Life Insurance. The...
Barry BoscoeNov 2, 20214 minEstate Tax Payment Period ExtensionIn a recently issued IRS Internal Legal Memorandum (ILM), the IRS indicated interest paid on estate taxes accrued during the extension ...
Barry BoscoeNov 2, 20214 minExemption Trust – 2011 and Its RelevancyAn Exemption Trust, by any other name, is still an exemption trust; however it has also been called a bypass trust, B-trust, credit ...
Barry BoscoeNov 2, 20212 minFDIC Rules on Trust AccountsYou have just created a revocable inter-vivos trust (traditionally referred to as a “living trust”). Your attorney has advised you to ...
Barry BoscoeNov 2, 20212 minFinal Rules on Gift ReportingPrior to August 5, 1997 gifts made could be revalued by the IRS years after the transaction took place imposing taxes and penalties....
Barry BoscoeNov 2, 20215 minFunding the Estate TaxIt happens when people don’t plan for the future; it happens when they don’t prepare for the high cost of dying. Unless proper ...
Barry BoscoeNov 2, 20215 minGeneration Skipping TaxKnowing the basic rules of the Generation-Skipping Transfer (GST) tax will help reduce or even eliminate the impact of this tax. The...
Barry BoscoeNov 2, 20213 minGifting Prior to 2013By now you are aware that come 2013 we may see an entirely new estate and gift tax landscape. If Congress fails to make changes to the ...
Barry BoscoeNov 2, 20213 minHistory of Estate and Gift Tax“No taxation without representation” was often heard during the Revolutionary times. We, as Americans, have had a long history of ...
Barry BoscoeNov 2, 20213 minHow to Plan for your Digital AssetsIn the past digital assets have not been considered in the estate planning process. However, with technological advances occurring ...
Barry BoscoeNov 2, 20212 minTo Sell or Not Prior to 2013With the new tax laws potentially changing in 2013, the question is whether you should sell appreciated capital assets in 2012 to take ...
Barry BoscoeNov 2, 20212 minHistoric Low AFRs Provide Wealth Transfer PossibilitiesWith the low current interest rate environment and the published IRS applicable federal rates (AFR), we are witnessing phenomenally low ...
Barry BoscoeNov 2, 20212 minDying Without a Will or TrustThe act of dying without a will is called intestacy. The distribution under the laws of intestacy will vary from the wishes of the...
Barry BoscoeNov 2, 20215 minRetirement PlanningLOS ANGELES BUSINESS JOURNAL Vol. 17 No. 19 Reprinted by permission of the Los Angeles Business Journal ™ Good Retirement Planning...
Barry BoscoeNov 1, 20213 minBusiness Succession PlanningAs hard as it may seem to believe, only 10-20% of small business owners have any kind of succession plan in place. Even more startling,...
Barry BoscoeNov 1, 20214 minWhy Legacy Planning Post Tax Reform?The recent enactment of the Reconciliation Act of 2017 (The Act) has led many individuals to believe with the higher federal gift, estate...