■ Roth Tax Tip: A common conversion approach is to divide your IRA into separate IRAs converting each with investments in different asset classes. The ones that don’t appreciate you re-convert to regular IRAs so you don’t have to pay income tax on a unfavorable investment result. Everyone in your foursome converted their IRA to…
■ Deteriorating Competency: Standard planning is set up and fully fund a revocable trust to manage assets. Consider also setting up a small balance checking account, with an attached credit/debit card, in your own name and outside the trust. If checks are inappropriately written, or the card is lost or stolen, trust assets can’t be…
Summary: So you bought a new car and you want it to work right and last. A good first step is to check out the Scheduled Maintenance Guide. Yep, change the oil every 5,000 miles, but a lot more is recommended. Doesn’t your estate plan deserve the same care? Page references are to the 2010…
Summary: To make great decisions for your GRAT you need to think creatively. The following checklist will help. But for those who missed the lecture on GRATs in acronym school, it stands for Grantor Retained Annuity Trust. It is a trust to which you can transfer assets, receive back an annuity for a specified number…