Recent Articles

IRS Allows Rollover of IRA from Estate to Spouse

Greg Herman-Giddens
March 21, 2012 10:44

As I tell my clients and audiences during presentations, one should never name one's estate as beneficiary of an IRA or other retirement account.  If the estate is the beneficiary, whether from a purposeful designation, failure to name a beneficiary, or failure update when a named beneficiary...

Ranking Domestic Asset Protection Trust States

Greg Herman-Giddens
March 14, 2012 15:11

Las Vegas asset protection guru Steve Oshins has updated his Domestic Asset Protection Trust (DAPT) State Ranking Chart.  Steve obviously believes Nevada has the most protective laws, and I agree.  I always use Nevada DAPTs - the only situation in which I would use another state's DAPT is...

The Importance of Planning for Young Families

Greg Herman-Giddens
March 13, 2012 20:34

Many folks have the misconception that legacy planning is only for the wealthy, or for the elderly.  Young families often overlook the importance of planning in the event of a parent's incapacitation or death. Although tragedy cannot be prevented, careful planning can ensure peace of mind...

Long-Term Care Insurance Industry Shakeout

Greg Herman-Giddens
March 13, 2012 12:47

Those considering long-term care insurance should be aware of recent several changes in the long-term care insurance industry. Guardian stopped offering the insurance as of December 31, 2011, and Prudential will no longer be offering individual coverage after March, 2012. MetLife exited the market...

Another Flip-Flop on Inherited IRA Stretch

Greg Herman-Giddens
March 10, 2012 17:12

Tax season is in full swing, and I was recently out of the office for a few days, so I'm a bit late in reporting this, but the provision to do away with the ability of most IRA beneficiary's to stretch distributions over their life expectancies is now back on the table as part of the Senate Highway...

Stretch IRAs No Longer on the Chopping Block

Greg Herman-Giddens
February 24, 2012 00:39

The the provision that would limit stretch IRAs (I blogged about it yesterday) has been removed from the proposed Highway Bill.  Good news!  See this article on AdvisorOne.com

No More IRA Stretching?

Greg Herman-Giddens
February 22, 2012 16:10

Senator Baucus' proposal to do away with stretching for most inherited IRA has not gone away as was anticipated earlier this month. A recently introduced Senate bill, S. 1813, the Highway Investment, Job Creation, and Economic Growth Act, includes a provision that would disallow lifetime tax...

The Dirty Dozen - 12 Tax Scams to Beware of in 2012

Greg Herman-Giddens
February 17, 2012 01:24

The IRS has released its annual list of tax scams for taxpayers to watch out for - review this list to help educate and protect yourself.  Believe it or not, the IRS wants to help!

Wealth Transfer Opportunities Targeted

Greg Herman-Giddens
February 14, 2012 20:32

Wealthy folks  looking to transfer assets to younger generations in tax-advantaged ways should act now, as the Obama administration is seeking to limit several favorite techniques of estate planning attorneys.  On the chopping block are the most commons uses of IDGTs (Intentionally...

Obama's 2013 Revenue Proposals

Greg Herman-Giddens
February 13, 2012 21:22

The White House has issued its 2013 fiscal year revenue proposals, with estate and gift tax changes consistent with administration's earlier stance on those rules.  Beginning next year, the estate tax exemption would decrease to $3.5 million and the rate would increase to 45%.  Spousal...