A New Product Line Irs Supermarket[1]
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The document discusses estate planning challenges in light of changing federal estate tax laws. It outlines three potential scenarios for future estate tax rules depending on whether Congress acts, and the implications for estate planning. Estate plans now require an "if-then" approach - maximizing income tax savings if there is no estate tax, or traditional estate tax savings if taxes are reinstated. The document provides instructions for funding trusts to achieve these tax objectives under different potential tax regimes.
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A New Product Line Irs Supermarket[1]
- 1. Presented by Richard L. Randall, Esq. Chairman & CEO, National Network of Estate Planning Attorneys A New Product Line at the IRS Supermarket: Shopping During Estate Tax Purgatory
- 2. Estate Planning Overview Most Estate Plans Just Don’t Work!
- 3. Estate Planning Overview Definition of Estate Planning I Want to Control My Property While I’m Alive and Well Plan for Me and My Loved Ones if I Become Disabled
- 5. SAVE TAXES EXPAND WEALTH PRESERVEWEALTH FAMILY ME The LifeSpan™ Planning Pyramid TM & © LifeSpan, LLC 2002 - 2009. Use by National Network members by express permission and under license granted by LifeSpan, LLC. Revised 4/2007 1. DEVELOP your plan with counselling-oriented planning partners 2. COMMIT yourself and your family to a formal continuing maintenance and education program 3. SECURE appropriate assistance to assure your wisdom is transferred along with the rest of your wealth ™ ™
- 16. Presented by Richard L. Randall, Esq. Chairman & CEO, National Network of Estate Planning Attorneys The New Estate Planning Landscape (Guiding Clients Through Estate Planning Purgatory)
- 19. Indeed, Senate Finance Committee Chairman Max Baucus says there’s “Massive, Massive Confusion”!
- 32. “ As If Never Enacted”
- 37. Presented by Richard L. Randall, Esq. Chairman & CEO, National Network of Estate Planning Attorneys A New Product Line at the IRS Supermarket: Shopping During Estate Tax Purgatory
Editor's Notes
- MODULE 1A Use Overhead #1 - The Truth About Estate Planning Tell the CLIFF YOUNG STORY (optional) – this is used to explain the name of the workshop “The Truth About Estate Planning” and why we call it that – about preconceived notions and having an open mind QUESTION: Let me ask you a question. How many of you have found that there are really only two types of things in life: things that work, and things that don’t work? May I have your permission to be blunt?
- MODULE 1A Use Overhead #1 - The Truth About Estate Planning Tell the CLIFF YOUNG STORY (optional) – this is used to explain the name of the workshop “The Truth About Estate Planning” and why we call it that – about preconceived notions and having an open mind QUESTION: Let me ask you a question. How many of you have found that there are really only two types of things in life: things that work, and things that don’t work? May I have your permission to be blunt?
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1A QUESTION: I have a question for you. How do you know whether an estate plan works? In fact, when do you know whether an estate plan works? Work = meets expectations. How do you know if it meets expectations. “ Snapshot” Story We’re in the business of helping families build plans that work
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1A QUESTION: I have a question for you. How do you know whether an estate plan works? In fact, when do you know whether an estate plan works? Work = meets expectations. How do you know if it meets expectations. “ Snapshot” Story We’re in the business of helping families build plans that work
- Proper Asset Ownership (boring topic?) We don’t apologize for talking to you about it, because it’s an absolute key to the planning. QUESTION: How many of you have talked with your attorney about how your estate will be charged after you’re gone? Show of hands. Response – (If you haven’t asked the question now…You won’t be asking the questions then!) So who will be asking those questions? So how well-prepared is your family? Do your helpers know what to do? How to do it? How to pay for it? Grieving period is not a good time for education
- MODULE 2A Overhead #3 - Counselling vs. Word Processing What passes for estate planning in America today is little more than word processing I’ll be brave enough to say over 90% of “estate” plans are 1 of 3 forms
- MODULE 2A Overhead #3 - Counselling vs. Word Processing What passes for estate planning in America today is little more than word processing I’ll be brave enough to say over 90% of “estate” plans are 1 of 3 forms
- MODULE 2A Overhead #3 - Counselling vs. Word Processing What passes for estate planning in America today is little more than word processing I’ll be brave enough to say over 90% of “estate” plans are 1 of 3 forms
- MODULE 1A Use Overhead #1 - The Truth About Estate Planning Tell the CLIFF YOUNG STORY (optional) – this is used to explain the name of the workshop “The Truth About Estate Planning” and why we call it that – about preconceived notions and having an open mind QUESTION: Let me ask you a question. How many of you have found that there are really only two types of things in life: things that work, and things that don’t work? May I have your permission to be blunt?
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)
- MODULE 1B For people who are committed to the long term Whose fault is it? (if the plan doesn’t work)