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Advanced Estate Planning

Learn if you need to go beyond basic estate planning and what techniques are available to protect your assets and your spouse and other beneficiaries, minimize or eliminate estate taxes, meet your charitable goals and transfer your wealth efficiently to the next generation.

What is Advanced Estate Planning?
There is a common misconception that you must be wealthy to need advanced estate planning. This is true is some cases but not in others. While basic estate planning involves creating a plan for what happens if you become mentally disabled and a plan for what happens after you die, advanced estate planning goes beyond these basics in several ways.

Do You Need Advanced Estate Planning?
During the creation of your basic foundational estate plan, your estate planning attorney will be able to determine your need for planning beyond the basics. Learn what factors your attorney will consider when assessing your need for more advanced estate planning.

3 Benefits of Advanced Estate Planning
For people with taxable estates, advanced estate planning beyond a basic estate plan is one of the options for minimizing or even eliminating estate taxes after they die. Aside from this, advanced planning can be used to perpetuate family values and protect assets for the benefit of future generations. With these goals in mind, advanced estate planning is really done for three important reasons.

Overview of Current Federal Estate Tax Laws
In early 2010 the federal estate tax was officially repealed, but at the end of 2010 it was reinstated retroactively. Here you will find an overview of the current federal estate tax laws.

How to Calculate Your Estate Tax Liability
Whether your estate will be liable for estate taxes depends on the value of your gross estate, the amount of debt owed by you at the time of your death, the total expenses that will be incurred while settling your estate, and any deductions that your estate can take. Here's how to figure out an estimate of your estate tax liability.

What is the Future of the Federal Estate Tax in 2014 and Beyond?
The passage of the American Taxpayer Relief Act of 2012 has added some certainty to the future of federal estate taxes, or at least many believe this to be the case. Nonetheless, with the federal deficit soaring to record numbers, the need for increasing revenues will continue for years into the future. So what really is the future of federal estate taxes in 2014 and beyond?

What is Asset Protection?
Asset protection is the process of insuring that your property is safe from judgment creditors. Learn how to protect your assets and avoid the most common asset protection mistake.

How to Protect Your Assets from Creditors and Lawsuits
With the U.S. economy in distress and property foreclosures at all time highs, lately asset protection has become a hot topic. But what exactly is it, and how can you protect your assets?

Asset Protection for You vs. Asset Protection for Your Beneficiaries
Asset protection for your own assets while you're alive when compared with asset protection for your spouse and other beneficiaries after you die are two different things.

Using AB Trusts to Protect Your Spouse
Have you created an estate plan that provides asset protection for your spouse after your death? If you and your spouse still have simple "I Love You" wills, or if you and your spouse do not have any estate plan at all, then you should consider including AB Trusts as part of your estate plan for the following reasons.

How to Protect Your Family from Creditors, Lawsuits and Divorce
A very important aspect of planning your estate should be creating a plan that will protect your children or other beneficiaries from creditors, lawsuits, and divorcing spouses after you are gone. This can be easily accomplished by setting up lifetime trusts for the benefit your beneficiaries instead of leaving your property outright, in stages, or at specific ages.

Top 5 Reasons to Become a Florida Resident
For those wondering if becoming a Florida resident makes sense, here you will find a list of the top five reasons why moving to Florida will be of great benefit to you and your family.

6 Steps to Exiting Your Business if You Become Disabled or Die
At some point every business owner will want to "exit" their business. Many times, however, the owner won't be able to leave voluntarily. Without a proper business exit planning strategy, the involuntary loss of a key person can devastate a business by forcing liquidation during a chaotic time. Here are the six steps to follow to create a sound plan for exiting your business.

Revocable vs. Irrevocable Trusts
When it comes to understanding trusts, knowing the difference between revocable and irrevocable trusts is crucial. If you ask for a revocable trust and get an irrevocable one, or vice versa, the legal and tax consequences will be significant.

An Overview of Advanced Trusts
Here you will find quick links to information about a variety of advanced estate planning trusts.

What is an AB Trust?
Married couples can maximize the use of both of their federal exemptions from estate tax by using AB Trusts as part of their estate plan. Here's how the AB Trust system works.

What is an Irrevocable Life Insurance Trust?
Many people are not aware that all of the proceeds from their life insurance policies will be included their estates for estate tax purposes. Learn how to remove life insurance proceeds from your estate by using an Irrevocable Life Insurance Trust, or ILIT.

What is a Grantor Retained Annuity Trust, or GRAT?
A Grantor Retained Annuity Trust, or GRAT for short, is a special type of irrevocable trust that allows the Trustmaker/Grantor to gamble against the odds and, if the Trustmaker/Grantor plays their cards right, then a significant amount of wealth can be moved down to the next generation for virtually no estate or gift tax dollars. Learn how a GRAT works.

What is a Qualified Personal Residence Trust?
A Qualified Personal Residence Trust ("QPRT") is a special type of irrevocable trust that is designed to hold and own your primary or secondary residence and remove its value from your taxable estate. Learn how a QPRT works.

How Does a Qualified Personal Residence Trust Really Work to Reduce Your Estate?
Here you will learn how a Qualified Personal Residence Trust, or "QPRT" for short, works to remove a primary or secondary residence from the value of your estate and preserve it for the benefit of your heirs.

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