Estates, Gifts, and Trusts Kelly's Tax and Accounting Service in Lakewood, WA Estate and Trust Tax Planning Estate Planning Articles Assets Asset protection in estate planning Estate planning and 529 plans Transferring your family business Beneficiary designations Choosing a beneficiary for your IRA or 401(k) Designating a beneficiary for life insurance Charitable giving Charitable giving Life insurance and charitable giving Estate planning basics Estate planning--an introduction Facing the possibility of incapacity Gift and estate taxes Trust basics Wills--the cornerstone of your estate plan Life insurance Life insurance and estate planning Life insurance and terminal illness Life insurance: do you need it? Planning ahead for life insurance proceeds The ins and outs of policy ownership Medicaid planning Medicaid and nursing home care Medicaid and the principal residence Medicaid planning basics Probate Bypassing probate Understanding probate Decision Tools Business planning Business life insurance needs Business succession planning alternatives Choosing a business entity How cross purchase plans work How entity purchase plans work Number of policies needed with a cross purchase plan Planning for succession of a business interest Charitable giving How a charitable lead trust works How a charitable remainder trust works The best property to give to charity Estate planning basics 529 Plan Federal estate tax calculator 529 Plan Federal estate tax calculator - (Consumer Version) Common incapacity documents Estate shrinkage Federal estate tax estimator Federal transfer tax exemption amounts under the Tax Act of 2001 Steps to estate planning success Table of federal estate tax brackets and exemption limits Life insurance Life insurance needs analyzer Probate The probate process: 3 to 9 months after death The probate process: 9 to 12 months after death The probate process: initial tasks Types of post-mortem elections Trusts Advantages of trusts How a grantor retained income trust (GRIT) works How an irrevocable life insurance trust (ILIT) works How an irrevocable trust protects assets FAQs Estate and gift tax How can I determine what my business is worth for estate and gift tax purposes? How can I minimize taxes on my estate? How will estate taxes be paid if I leave no provision in my will? I intend to make tuition payments directly to my grandchild's college, and I know this will reduce my estate. But would it be better to contribute to a 529 plan instead? I just made a gift. Do I have to file a gift tax return? If I am the account owner when I die, will the value of my 529 account be included in my estate? The death benefit from insurance on my life will be paid to an irrevocable life insurance trust (ILIT). What if those funds are needed to pay my estate taxes? What is a family limited partnership, and will it help reduce estate taxes? What is the applicable exclusion amount? Will the value of my 529 account be included in my estate or my beneficiary's estate? Estate planning basics How often do I need to review my estate plan? Isn't estate planning only for the rich? What makes up my taxable estate? Life insurance and estate planning Are life insurance proceeds income taxable? The death benefit from insurance on my life will be paid to an irrevocable life insurance trust (ILIT). What if those funds are needed to pay my estate taxes? What is a life insurance trust and why should I consider establishing one? When I die, is my beneficiary required to take a lump-sum payment of my life insurance death benefit? Will my beneficiaries have to pay taxes on the proceeds of my life insurance policy? Planning for incapacity What is an advanced directive for health care, and will it help me avoid court involvement during incapacity? What is the difference between a power of attorney and a durable power of attorney? Probate Does property owned jointly avoid probate? What is probate and why do I want to avoid it? Trusts Can an UGMA/UTMA account reduce my child's financial aid for college? Should I establish a trust for my child's college education fund? What is a Crummey power? What is a life insurance trust and why should I consider establishing one? What is a living trust? Wills Can I disinherit relatives I don't like? Can I transfer my business through my will? Do I have to accept a bequest I don't want? Do I need an attorney to prepare my will? How will estate taxes be paid if I leave no provision in my will? I want my son to have my valuable collection of baseball cards when I die. How do I make sure he gets it? What is the difference between a living will and a living trust? What will happen if I die without a will? Who should I name as guardian of my children in case my spouse and I should die at the same time? Who should I name as trustee?
