Update	  on	  Planning	  	           or,	  What	  Do	  I	  Do	                   Now?	  Presented by           !
What	  is	  Estate	  Planning?	                     Tax, Probate!                      Growth!                         Ass...
What	  is	  Estate	  Planning?	                        Me!                        Family!                            Asset...
Where	  We	  Are	  Now	  •  American	  Taxpayer	     Relief	  Act	  of	  2012	      –  Rules	  are	  now	         “permane...
Where	  We	  Are	  Now	  (Con’t)                                          	  •  Income	  Tax	     –  “Bush	  Era”	  indivi...
Where	  We	  Are	  Now	  (Con’t)	  •  Capital	  Gains	  Taxes	      –  The	  lower	  “Bush	  Era”	  capital	  gains	  tax	...
Where	  We	  Are	  Now	  (Con’t)	  •  Transfer	  Tax	  Rules	      – “Permanent”	  (un5l	  Congress	  changes	  things)	  ...
Where	  We	  Are	  Now	  (Con’t)	  •  Transfer	  Tax	  Rules	      –  “Portability”	           •  Spouses	  can	          ...
How	  Much	  Have	  Things	  	                  Really	  Changed?	  •  In	  some	  ways,	  not	  so	  much	      –  You	  ...
So	  What	  Does	  This	  Mean?	  (Con’t)	  •  Do	  you	  sHll	  want	  “A-­‐B”	     trust	  planning?	       –  Complexit...
So	  What	  Does	  This	  Mean?	  (Con’t)	  •  A	  charitable	  giU	  is	     worth	  more	  now	       –  Offset	  poten5a...
Yes,	  But	  I	  Want	  More	  	                   Than	  A	  Tax	  DeducHon	  •  I	  want	  to	  dispose	  of	  difficult	 ...
Yes,	  But	  I	  Want	  More	  	         Than	  A	  Tax	  DeducHon	  (Con’t)	  •  I	  want	  a	  steady	  stream	     of	 ...
Yes,	  But	  I	  Want	  More	  	         Than	  A	  Tax	  DeducHon	  (Con’t)	  •  I	  want	  to	  control	  my	     legacy...
Yes,	  But	  I	  Want	  More	  	        Than	  A	  Tax	  DeducHon	  (Con’t)	  •  I	  like	  charitable	  giving	  well	  e...
The	  Moral	  of	  the	  Story	  •  One	  of	  the	  cool	  things	     about	  estate	  planning	     is	  we	  usually	 ...
QuesHons	                 16!
What’s	  The	  Next	  Step?	                Jan	  Copley	          (626)	  696-­‐3145	     jan@pasadenalawgroup.com	      ...
Thank	  You	  70	  South	  Lake	  Avenue	  |	  Suite	  1000	  	             Pasadena,	  CA	  91101	  	                P	  ...
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Nae 2013-01-30-slides final

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A discussion of the new tax laws, effective 01/01/13, and the benefits of charitable planning

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Nae 2013-01-30-slides final

  1. 1. Update  on  Planning     or,  What  Do  I  Do   Now?  Presented by !
  2. 2. What  is  Estate  Planning?   Tax, Probate! Growth! Assets! Family! Me! 1! 2!
  3. 3. What  is  Estate  Planning?   Me! Family! Assets! Growth! Tax, Probate! 2! 3!
  4. 4. Where  We  Are  Now  •  American  Taxpayer   Relief  Act  of  2012   –  Rules  are  now   “permanent”  (that  is,   un5l  Congress  changes   its  mind)   3!
  5. 5. Where  We  Are  Now  (Con’t)  •  Income  Tax   –  “Bush  Era”  individual  income  tax  rates  have  been   preserved   –  Unless  your  AGI  exceeds  $450,000  (married)  or   $400,000  (single)  •  AlternaHve  Minimum  Tax   –  Exemp5on  for  AGI  of  $78,750  (married)  or   $50,600  (single)   –  Finally  indexed  for  infla5on   4!
  6. 6. Where  We  Are  Now  (Con’t)  •  Capital  Gains  Taxes   –  The  lower  “Bush  Era”  capital  gains  tax  rates  have   been  preserved   –  Unless  your  AGI  exceeds  $450,000  (married)  or   $400,000  (single)  •  Medicare  surtax   –  Starts  this  year   –  3.8%  on  net  investment  income  if  AGI  exceeds   $250,000  (married)  or  $200,000  (single)   5!
  7. 7. Where  We  Are  Now  (Con’t)  •  Transfer  Tax  Rules   – “Permanent”  (un5l  Congress  changes  things)   – $5,250,000  exclusion/person   – $5,250,000  exclusion  for  life5me  giWs/person   – $5,250,000  exclusion  for  genera5on-­‐skipping  giWs/ person   – $14,000  annual  exclusion/recipient   All  indexed  for  infla.on   6!
  8. 8. Where  We  Are  Now  (Con’t)  •  Transfer  Tax  Rules   –  “Portability”   •  Spouses  can   protect  up  to   $10,500,000  from   transfer  taxes   •  More  if  you  die,   remarry  in  the   right  order   7!
  9. 9. How  Much  Have  Things     Really  Changed?  •  In  some  ways,  not  so  much   –  You  s5ll  plan  to   •  Protect  yourself   •  Protect  your  family   •  Protect  your  legacy  •  Two  big  differences   –  Do  you  s5ll  need  tradi5onal  “A-­‐B”  trust  planning?   –  A  charitable  giW  is  worth  more  now   8!
  10. 10. So  What  Does  This  Mean?  (Con’t)  •  Do  you  sHll  want  “A-­‐B”   trust  planning?   –  Complexity   –  Asset  protec5on   –  Remarriage  protec5on   –  Preserving  portability   9!
  11. 11. So  What  Does  This  Mean?  (Con’t)  •  A  charitable  giU  is   worth  more  now   –  Offset  poten5ally  higher   income  taxes   –  Offset  poten5ally  higher   capital  gains  taxes   –  Offset  poten5ally  higher   transfer  taxes   10!
  12. 12. Yes,  But  I  Want  More     Than  A  Tax  DeducHon  •  I  want  to  dispose  of  difficult  assets   –  Re5rement  accounts   –  No  longer  needed  life  insurance   –  Highly  appreciated  property  •  Tools  to  help   –  Charitable  giWs  of  re5rement  accounts   –  Charitable  giWs  of  highly  appreciated  property   11!
  13. 13. Yes,  But  I  Want  More     Than  A  Tax  DeducHon  (Con’t)  •  I  want  a  steady  stream   of  income  •  Tools  to  help   –  Charitable  giW  annuity   –  Charitable  remainder   trust   12!
  14. 14. Yes,  But  I  Want  More     Than  A  Tax  DeducHon  (Con’t)  •  I  want  to  control  my   legacy  now  and  aUer  I   die  •  Tools  to  help   –  Donor-­‐advised  fund   –  Suppor5ng  organiza5on   –  Private  founda5on   13!
  15. 15. Yes,  But  I  Want  More     Than  A  Tax  DeducHon  (Con’t)  •  I  like  charitable  giving  well  enough,  but  I  want  it   all  to  go  to  my  family  •  Tools  to  help   –  Charitable  lead  trust  planning   –  Life  insurance  •  I  want  to  do  good   –  All  charitable  giving  will  help  with  this   –  You  can  make  giWs  with  or  without  strings  aeached   –  Remember  NAE!   14!
  16. 16. The  Moral  of  the  Story  •  One  of  the  cool  things   about  estate  planning   is  we  usually  can   accomplish  all                         your  goals   15!
  17. 17. QuesHons   16!
  18. 18. What’s  The  Next  Step?   Jan  Copley   (626)  696-­‐3145   jan@pasadenalawgroup.com   NAE   Clare  Flanagan   Director  of  Planned  Giving   (202)  334-­‐1536     cflanagan@nas.edu   17!
  19. 19. Thank  You  70  South  Lake  Avenue  |  Suite  1000     Pasadena,  CA  91101     P  (626)  696-­‐3145   www.PasadenaLawGroup.com   18!

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