Financial Advice for Retirement, Social Security, IRAs and Estate Planning

Grandchildren & Beneficiaries

Found 97 Articles.
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passing-wealth-grandchildren

Strategies for Passing Wealth to Grandchildren

May 1, 2000

The government doesn’t want you to give or leave wealth to your grandchildren. A penalty tax is imposed on those who try. But there are numerous ways to avoid the penalty and leave substantial wealth to the third generation. Most of these strategies are very simple. The penalty tax is the generation-skipping tax, which I […]

irs-approved-tax-benefits

IRS Approved Tax Benefits

April 1, 2000

Taxpayers can get great income and estate tax benefits from one strategy – without being aggressive. The IRS recently said it would stop fighting a strategy that tax advisors have advocated for years. Even better, as a result of the bull market this tool is ideal for more people. If you’ve been reading Retirement Watch […]

best-tuition-savings-plan

Finding The Best Tuition Savings Plan

March 1, 2000

Retirement Watch readers were among the first to learn about the great estate planning and investment benefits of qualified tuition savings plans (QTSPs), also known as Section 529 plans. Now, there are so many plans available that you can get even more benefits by finding the best plan for you or using several plans at […]

smart-ways-to-make-gifts

Smart Ways to Make Gifts

February 1, 2000

It’s gift giving season, at least it is for those who want to make shrewd income tax and estate planning moves. While most people don’t make annual estate planning gifts at all and those that do make them in December, the first part of the year is the best time to make tax-wise gifts. Making […]

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how-to-leave-more-for-grandkids

How to Leave More for Grandkids

December 1, 1999

Would you like your grandchildren to end up with only 20% of what you intended? That’s what happens in most cases. The government doesn’t want you to pass wealth directly to your grandchildren. It wants the money to stay in your estate, get it hit by estate taxes, go to your children, get it hit […]

Estate Planning

A “Defective” Trust That Saves You Money

November 1, 1999

Sometimes when Congress closes one tax loophole it creates another. This is especially likely when Congress doesn’t coordinate the income and estate tax sections of the law. That’s how complicated the tax law is. And it opens up an opportunity for you with “grantor trusts.” A grantor trust in the income tax law is one […]

new-rules-help-iras-last-for-decades

New Rules Help IRAs Last For Decades

October 1, 1999

New rulings from the IRS make it easier to preserve your IRA for a generation or more. Your children and grandchildren can use tax deferral even longer, and IRAs can be customized for each heir. But you have to take action to benefit from these rulings, and you should leave instructions for your heirs. Otherwise, […]

uniform-gifts-to-minors-account

Tips on Handling Uniform Gifts to Minors Account (UGMAs)

August 1, 1999

I’ve been hearing a lot from parents and grandparents who set up Uniform Gift To Minors Act accounts for the youngsters and now have second thoughts. The problem with these accounts, as I’ve reported in past visits, is that once the child hits age 18 (21 in some states), the account is all his. There’s […]

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