June, 2009

NAEPC Journal of Estate & Tax Planning

Editor's Note: This "dinner menu" summary is designed to help you with the flavor of the article before you read more. If you are interested in the article, click its title to access a copy.

Regular Columns and Reports

Letter from the President of NAEPC Author: Kathleen J. Belmonte, CTFA, AEP

Editor's Column Planning for What Happens Next Author: John J. Scroggin, J.D., LL.M., AEP

List of Conferences 2009-2010 Conferences on Estate, Financial and Tax Planning

Estate and Tax Planning Articles

Heckerling Musings 2009 (PDF file) Steve Akers provides his annual summary of insights garnered from the University of Miami Institute on Estate Planning. Author: Steve R. Akers, J.D.

Private Split Dollar - What's New about an Old Opportunity (PDF file) This article provides insights on using private split dollar to fund life insurance. Authors: Michael F. Amoia, JD, CFP, CLU, ChFC, Kristen E. Simmons, JD, and Robert C. Slane, AEP, CLU

Planning to Minimize or Avoid State Income Tax on Trusts (PDF file) Dick Nenno provides a detailed article on avoiding state income taxes on trusts. Author: Richard W. Nenno, Esq, Wilmington Trust

How a Corporate Trustee Can Help a Financial Planner Meet Their Client's Goals (PDF file) This article, by a former President of NAEPC, discusses why financial advisors should consider advising their clients to use Corporate Trustees. Author: Thomas M. Forrest, CPA, AEP

How Do I Love Thee, Let Me Count the Days: Deathbed Marriages in America (PDF file) This interesting article discusses some of the legal issues surrounding deathbed marriages. Author: Terry L. Turnipseed, Assistant Professor of Law, Syracuse University College of Law

Passing It on from the Inside out (PDF file) This article discusses some of the practical details that clients and their advisors should address in exit planning strategies for closely held businesses. Authors: Charlie Douglas, J.D.,CFP, AEP and Hugh Massie

Practice Aids

2009 State Death Tax Chart (PDF file) A summary of the current state death tax law in the 50 states and the District of Columbia. Author: Charles D. Fox, IV

Family Limited Partnership Checklist (PDF file) Byrle Abbin has produced this comprehensive Family Limited Partnership checklist using the various rulings on FLPs. Author: Byrle M. Abbin

IRS Publication 78 (external link) Information on the tax-exempt status of a charitable organization.

IRS Publication 552 (PDF file) Do you and your clients ever wonder how long records should be retained? This IRS publication is designed to give you detailed information on the IRS's requirements.

Presentations and Outlines

Transcript for Canceled Debt (Tax Consequences) (PDF file) This March 2009 transcript of an IRS Phone Forum provides a discussion of the tax consequences of forgiven debt.

Tax Myths (PDF file) A short PowerPoint presentation on a few current tax myths. Author: John J. Scroggin

Studies and Reports

Summary of Estate Tax Filings in 2007 (Excel file) This Excel Spreadsheet provides summary data on Federal Estate Tax filings for 2007.

IRS Strategic Plan 2009-2013 (PDF file) A copy of the IRS's strategic plan for development from 2009-2013.

Historic Tax Information from 1979 to 2006 (external link) To obtain information on historic tax rates and household income from 1979 to 2006, go to this CBO website.

Beware of IRS' 2009 "Dirty Dozen" Tax Scams (external link) Go to this website to see the IRS's list of the top Dozen Tax Scams.

2009 Social Security Trustees Report (PDF file) This May 2009 report from the Trustees of the Social Security Fund provides some sobering information on the future of the fund.

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