Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Monday, March 17, 2014

Estate Planning Strategies to Consider


Estate planning attorney John O. McManus has detailed some estate planning strategies that should be considered following recent changes in federal and state law.  Here are ten questions you should ask yourself: 

  1. Following the increased Federal exemption, why must equal emphasis now be given to capital gains tax planning?
  2. After planning is complete, what are the opportunities to achieve a step up in basis?
  3. Can heirs cover the gains tax due if gifted assets have greatly appreciated?
  4. What are the income tax benefits of planning testamentary trusts for the benefit of the surviving spouse as grantor trusts?
  5. Can you use Joint Exempt Step-up Trusts (JESTs) to ensure a full step up in basis for jointly owned property first?
  6. Will those under the federal exemption still owe estate tax to their state government?
  7. When gifting "gap-QTIP" interest income, how can unused exemption amounts be uniquely leveraged?
  8. Which non-tax factors should be considered when estate planning with trusts?
  9. How can someone fulfill the annual requirements for upkeep of their estate plan?
  10. Should digital assets be considered when estate planning?

For answers to these pertinent questions, see the article below. 

See McManus & Associates, Top 10 Signposts to Guide Planning for Estates Under $10MM, eTeligis, March 12, 2014.


Estate Planning - Generally, Income Tax, Trusts | Permalink

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