By: Greg Reese, President & CEO, AmeriEstate Legal Plan, Inc. The Setting Every Community Up for Retirement Enhancement Act, better known as the SECURE Act, was signed into law on Friday, December 20, 2019 and became effective as of January 1, 2020. For purposes of this article, traditional IRAs and employer tax deferred accounts such as 401(k)s, 403(b)s, and 457s will all be referred … [Read more...] about The Secure Act – 2020 New Law Affecting Qualified Plans Payable to a Trust
Generally, the terms of note will be Seller driven and the resulting terms must be reasonable and commercially viable. The initial term we would offer would be anywhere from 1 year to 10 years… Seller picks their desired term. The payback structure is very flexible in that the seller could: defer receiving payments for up to a couple of years or so; take a partial … [Read more...] about How Do You Structure Repayment Terms for a Deferred Sales Trust Installment Note
Estate Planning and Legislation Related to Digital Assets by Greg Reese, President & CEO AmeriEstate Legal Plan, Inc. Traditionally, when we think about the administration of a decedent’s estate, we typically envision a process that focuses on the individual’s tangible personal property and belongings, financial assets, business interests, and real estate. However, in the … [Read more...] about Your AmeriEstate Living Trust Provides Protection for and Appointed Access to Your Digital Assets
Which is the right Trust for you and your family? One of the key goals of estate and Trust planning is to avoid federal estate taxes. Careful estate planning can eliminate a significant estate tax burden for surviving spouses and their beneficiaries. Any of the Trusts below can be useful tools in preserving an estate's assets. But which Living Trust is right for you? Credit Shelter Trusts (A/B … [Read more...] about What Type of Living Trust Should I Have?
Protecting Your Goals and Your Loved Ones Naming the beneficiaries of an insurance policy seems likes an easy thing to do. If a person is married, the spouse is the beneficiary. The children are often named as contingent beneficiaries. If a person is not married but has children, the children are often named as first beneficiaries. Usually, these are the people that life insurance is intended to … [Read more...] about Top 5 Mistakes When Naming Beneficiaries of Insurance Policies
Important Reasons to Review and Update Your Estate Plan Let’s assume you are among the approximately 30% of adults who have done the prudent thing and established your Estate Plan. Perhaps you simply created a Will. Have you had it professionally reviewed in recent years? Make sure your plan is still the most suitable for your current estate and goals? Alternatively, do you have a Living Trust … [Read more...] about Five Reasons to Update Your Estate Plan
In estate planning involving spouses there may be issues surrounding how to deal with separate property acquired prior to marriage or as a result of inheritance. As part of your estate planning consultations with your attorney, you may be asked whether you wish any particular property or financial assets you currently consider to be your sole and separate property to remain your sole and … [Read more...] about Deciding Whether to Convert Separate Property to Community Property
1031 Exchanges and Deferred Sales Trust™ are both based on the structuring of sales transactions to avoid actual or constructive receipt of the immediate sales proceeds by the seller. Used as a backup strategy, the Deferred Sales Trust™ preserves tax deferral when the seller cannot successfully complete a 1031 Exchange or does not wish to reinvest back into real estate. When this happens, the … [Read more...] about Using the Deferred Sales Trust™ to Rescue a Failed 1031 Exchange
Why Should You Consider the Deferred Sales Trust? If you are considering the sale of a business, corporation, or investment real estate, you may face capital gains tax associated with that sale. For the investor who does not want to continue holding investment property or remain in the same business, a Deferred Sales Trust should be considered. According to Section 453 of the Internal Revenue … [Read more...] about Primer on the Deferred Sales Trust (DST)
By Greg Reese, Principal Reef Point, LLC Certified Trustee for the Deferred Sales Trust The DST starts with an owner of an appreciated asset who wishes to sell that asset and defer taxes on his or her gain. In order to defer the gains on the sale, the seller/taxpayer must engage with the Estate Planning Team (EPT) and its Tax Attorneys BEFORE the property is actually sold and the seller/taxpayer … [Read more...] about How Does The Deferred Sales Trust Work?