Archive for the ‘Seminar Announcement’ category

Basic Estate Planning Seminar

March 29, 2012

Our Basic Estate Planning Seminar is Now a Screencast

Background

March 28, 2012

We offer seminars to our clients, their advisors, and other friends of the firm, every year.  One of the most popular has been our Basic Estate Planning Seminar.  We offer it to you now as a screencast/podcast.  It is also available on DVD. If you would like the DVD, please contact us (via Chipman Mazzucco).

You can see all 15 parts.  Click on the red “Basic Estate Planning (15 Parts)” heading below and then click “Play All” under “Basic Estate Planning” at the top of the YouTube page.

Basic Estate Planning (15 Parts)

We describe each of the parts below with an individual link to each one. If the full screen button on the bottom right of the icon is not working, click on “For Full Screen Click Here.”

Part 1:  Introduction.  Wills and probate property vs. nonprobate property. For a Full Screen Click Here.

  

Part 2: Beneficiaries, mistakes with nonprobate property, trust basics, guardian appointments, life insurance beneficiary designations, and estate taxes. For Full Screen Click Here.

Part 3:  Wills, the estate taxation of life insurance death benefits, tax issues and asset protection issues relating to Wills, and disclaimer Wills. For Full Screen Click Here.

Part 4: Formula marital deduction Wills, exemption trusts, risk of disinheriting the surviving spouse as estate tax exemptions increase, the portable estate tax exemption, and asset protection bypass trusts.  For Full Screen Click Here.

Part 5:  Formula marital deduction Wills (and exemption trusts) vs. disclaimer Wills (and disclaimer trusts), and common estate planning mistakes. For Full Screen Click Here.

Part 6:  Common estate planning mistakes continued, the duties of an Executor, the duties of the Trustee, the duties of a guardian, planning for post-death cash needs, and the generation skipping tax. For Full Screen Click Here.

Part 7: Retirement plan accounts (IRAs, 401(k) plans, 403(b) accounts, etc.), estate taxation on retirement plan accounts, the risk of a circular tax on tax problem at death of account owner, life insurance and irrevocable life insurance trusts as a solution. For Full Screen Click Here.

Part 8: Retirement plan accounts and related income tax issues, effects of beneficiary designations on deferral periods, spouse as beneficiary and tax deferred rollovers, required minimum distributions, and tax treatment of inherited IRAs, and the five year payout rule. For Full Screen Click Here.

Part 9: Revocable living trusts, the living trust as a Will substitute, probate avoidance, planning for incapacity, and establishing a revocable living trust. For Full Screen Click Here.

Part 10:  Comparison of revocable living trust plan with non-living-trust plan, treatment of lifetime issues, powers of attorney as an alternative to the revocable living trust, and what it means to avoid probate. For Full Screen Click Here.

Part 11:  Comparison continued, avoiding ancillary probate in other states where real property is located, creditors’ claims and safe harbors for the Executor, and income and estate taxes. For Full Screen Click Here.

Part 12:  Comparison (continued), accounting requirements, releases from liability, continuing trusts and continuing probate court jurisdiction, reasons for considering revocable living trusts, management during incapacity, and real property in other jurisdictions. For Full Screen Click Here.

Part 13:  Reasons for considering a revocable living trust (continued), controversial estate plans, probate notice requirements, disruption of support for third parties, probate and related delays, simplifying estate settlement for survivors, nonreasons for considering revocable living trusts, the living trust as tax neutral, and probate court fees. For Full Screen Click Here.

Part 14: Gift planning, gift and estate tax exemptions, exclusions for small gifts, gifts to education funds (529 plans), exclusions for qualified tuition and medical costs, gift tax marital deductions,  gifts to U.S. citizen spouse, and gifts to noncitizen spouse. For Full Screen Click Here.

Part 15: Gifts of life insurance policies, incidents of ownership, irrevocable trusts as owner, three year rule relating to transfers of life insurance policies, and sophisticated gift techniques (qualified personal residence trusts, grantor retained annuity trusts, valuations for gift tax purposes, gifts to charities and charitable trusts). For Full Screen Click Here.

Posted on 3/29/2012 by Richard S. Land, Member, Chipman, Mazzucco, Land & Pennarola, LLC.

Notice: To comply with U.S. Treasury Department rules and regulations, we inform you that any U.S. federal tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction, tax strategy or other activity.

We frequently post articles relating to estate planning, estate settlement and elder law issues to this blog. We also post notices about our client seminars here. When we do, we send out notices to clients and friends of the firm. If you would like to get our notices, please join our mailing list by clicking below.

     
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December 8, 2011, Seminar: Planning Your Whole Estate

November 12, 2011

Planning Your Whole Estate—Coordinating Life Insurance, Employee Benefits, and Other Nonprobate Property with the Rest of Your Estate Plan

LocationMatrix Corporate Center, Main Auditorium, First Level, Danbury, Connecticut, 39 Old Ridgebury Road, Danbury, CT

Directions:  Directions to Chipman MazzuccoDon’t rely on your GPS.  Please read and follow these directions.

Date: December 8, 2011
 
Time: 5:15 to 6:45 pm.

Call 203-744-1929 for reservations.  For more contact information, go to the end of this post.

The Last Will and Testament is usually the keystone of an estate plan. It contains the most important instructions for your survivors regarding the use of your assets after your death.

Unfortunately, many people are not aware that a Will usually will not control the disposition of nonprobate assets such as life insurance death benefits, retirement accounts such as 401(k) and IRA plans, annuities, jointly owned property and many other benefits provided under plans offered to employees as part of their employment package.

Unless you properly designate beneficiaries for nonprobate assets and coordinate them with the terms of your Will:

• Your estate plan may be largely ineffective
• Your heirs may pay taxes that could have been avoided
• Family conflict may ensue
• A young beneficiary may receive significant assets too soon 

In addition, unique income tax rules apply to many nonprobate assets. Without proper planning, income tax saving opportunities can be lost and tax traps may ensnare the unwary.

At the seminar, we will be discussing issues related to planning for nonprobate assets and how to coordinate the disposition of such assets with the terms of your Will (or Will substitute such as a revocable living trust).

Go here for a flyer about the seminar: Planning Your Whole Estate—Coordinating Life Insurance, Employee Benefits, and Other Nonprobate Property with the Rest of Your Estate Plan.

SEMINAR LOCATION AND TIME

The seminar will be on December 8, 2011, at the Matrix Corporate Center, Main Auditorium, First Level, 39 Old Ridgebury Road, Danbury, Connecticut from 5:15 p.m. to 6:45 p.m. The doors will open a little before 5:00. Refreshments will be served.

These seminars are always well attended and space is limited. If you wish to attend, or if others you know are interested in attending, to reserve space call us (203-744-1929) or send an e-mail message to me (Richard Land at rsl@danburylaw.com) or Kasey Galner (at ksg@danburylaw.com) or Lynn D’Ostilio (at lsd@danburylaw.com) containing your name, number attending, telephone number and e-mail address.

Posted on 11/12/2011 by Richard S. Land, Member, Chipman, Mazzucco, Land & Pennarola, LLC.

We frequently post articles relating to estate planning, estate settlement and elder law issues to this blog. We also post notices about our client seminars here. When we do, we send out notices to clients and friends of the firm. If you would like to get our notices, please join our mailing list by clicking below.

Join Email List

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March 10, 2011, Seminar. Is it time to review your estate plan? Maron Hotel, Danbury, Connecticut, 7:00 to 9:00 PM

January 29, 2011

Is It Time To Review Your Estate Plan?

Please  join us at the Maron Hotel, Danbury, Connecticut, on  March 10, 2011.

Call 203-744-1929 for reservations.  For more contact information, go to the end of this post.

We will be discussing whether clients should be reviewing and changing their estate plans in light of changes Congress recently made in the U.S. estate law and in light of all the other changes that may have occurred in your life and the lives of your beneficiaries and fiduciaries (Executors, Trustees and Guardians) since the last time your plan was reviewed.

For a summary of the topics we plan to cover, including a short explanation of the new U.S. estate tax rules, see the videos (Part One and Part Two) below.

For a good Wall Street Journal summary of the new U.S. estate and gift tax provisions, click here:  WSJ Article.

You can find a short written summary of the seminar topics in the text after the videos.

Estate Planning Seminar Summary Video Part One:

Estate Planning Seminar Summary Video Part Two:

Federal Estate Tax Changes: As 2010 came to an end, the U.S. Congress enacted another set of temporary estate tax changes which will apply in 2011 and 2012 with retroactive application to 2010.  Under the new set of temporary rules, the U.S. estate tax exemption is increased to $5,000,000 and the top estate tax bracket is 35%.  In 2013, however, the U.S. estate tax exemption is scheduled to be $1,000,000.  The top U.S. estate tax bracket in 2013 is scheduled to be 55%.  Under the new rules, for the first time, one spouse may give his or her unused $5,000,000 estate tax exemption to a surviving spouse.  In effect, this means married couples may take advantage of each spouse’s $5,000,000 exemption (for a total exemption of $10,000,000) without including complicated tax provisions in their Wills.

Connecticut Estate Tax: The Connecticut estate tax “exemption” is currently $3,500,000.  Because the U.S. estate tax exemption is larger than the Connecticut estate tax exemption, married clients who have wills with marital deduction formula provisions that are pegged to the U.S. estate tax exemption may incur an unnecessary Connecticut estate tax of approximately $122,000.

As we have stressed in previous seminars, the application of many types of estate tax formula provisions in Wills after exemptions have been increased could result in the disinheritance of the surviving spouse unless there has been careful planning.

In addition, many types of estate tax formula provisions in Wills may be difficult to interpret after exemptions have been increased.  This could increase the risk of litigation between beneficiaries.

For many, it may be time to use Wills that are much simpler than the complicated estate-tax-formula Wills of the past.  The temporary nature of the estate tax changes and the estate tax rules of Connecticut and other states, however, make the analysis less simple.

Our March seminar will help you determine whether you should review your estate plan to take into account the tax changes that have already been made and the changes that will be coming.

Other Reasons to Review: The other reasons for review continue to apply.

Have the circumstances of your Executor, Trustee or Guardian changed significantly?

Has the life of a beneficiary changed significantly? If a beneficiary becomes disabled, dies or is divorcing, perhaps you should change the estate plan as it relates to that beneficiary. A beneficiary’s good fortune may also be a good reason to make changes.

Have your assets changed significantly? If your assets have grown, you may now need tax planning. If your estate has decreased in size, the tax planning you did many years ago may no longer be appropriate.

If your health is failing, or if that possibility is now more real to you, you may wish to consider different approaches for dealing with incapacity.

If a substantial part of your estate consists of IRAs and similar retirement accounts (including life insurance), it may be time for you to consider specific planning strategies for such accounts.

We will cover the most common approaches for dealing with these issues and more.

SEMINAR LOCATION AND TIME

The seminar will be on March 10, 2011, at the Maron Hotel, 42 Lake Avenue Extension, Danbury, Connecticut from 7:00 p.m. to 9:00 p.m.  The doors will open at 6:30.  Refreshments will be served.

These seminars are always well attended and space is limited.  If you wish to attend, or if others you know are interested in attending, to reserve space call us (203-744-1929) or send an e-mail message to me (Richard Land at  rsl@danburylaw.com) or Kasey Galner (at ksg@danburylaw.com) or Lynn D’Ostilio (at  lsd@danburylaw.com) containing your name, number attending, telephone number and e-mail address.

Posted on 1/29/2011 by Richard S. Land, Member, Chipman, Mazzucco, Land & Pennarola, LLC

We frequently post articles relating to estate planning, estate settlement and elder law issues to this blog. We also post notices about our client seminars here. When we do, we send out notices to clients and friends of the firm. If you would like to get our notices, please join our mailing list by clicking below.

 
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Announcement Seminar Rescheduled; March 18, 2010; 7:00 to 9:00 PM; Ethan Allen Inn, Danbury, Connecticut

February 22, 2010

Is It Time To Review Your Estate Plan?

Federal Estate Tax Repeal:  As of January 1, 2010 the U.S. estate tax has been repealed, temporarily.  The U.S. estate tax is scheduled to return in 2011 with a $1,000,000 “exemption.”  The 2009 exemption was $3,500,000.  We expect that Congress will take some action in the coming months.

Connecticut Estate Tax Changes:  Effective January 1, 2010, the Connecticut estate tax “exemption” was increased from $2,000,000 to $3,500,000 but the fate of this change is uncertain.

Our March seminar will help you determine whether you should review your estate plan to take into account the tax changes that have already been made and the changes that will be coming.  Some of the effects of repeal of the federal estate tax are explained here: January 10, 2010, article on repeal and the need for a review.

Other Reasons to Review: The other reasons for review continue to apply.

Have the circumstances of your Executor, Trustee or Guardian changed significantly?

Has the life of a beneficiary changed significantly? If a beneficiary becomes disabled, dies or is divorcing, perhaps you should change the estate plan as it relates to that beneficiary. A beneficiary’s good fortune may also be a good reason to make changes.

Have your assets changed significantly? If your assets have grown, you may now need tax planning. If your estate has decreased in size, the tax planning you did many years ago may no longer be appropriate.

If your health is failing, or if that possibility is now more real to you, you may wish to consider different approaches for dealing with incapacity.

If a substantial part of your estate consists of IRAs and similar retirement accounts (including life insurance), it may be time for you to consider specific planning strategies for such accounts.  Conversion to Roth IRAs in 2010 is especially appealing.

If you have pets, you may wish to consider recently enacted legislation relating to “pet trusts.”

We will cover the most common approaches for dealing with these issues and more.

LET US KNOW WHAT TOPICS YOU WANT US TO COVER

Contact us to let us know whether you would like us to cover a particular issue.  If we can, we will try to fit the issue into this program or a program we plan for the future.  The best way to reach us is by e-mail, but we would be pleased to receive your suggestions by regular mail or by telephone.  If you wish, call after hours and leave a voice mail message. Telephone Number: (203) 744-1929.  Or, contact me by email at rsl@danburylaw.com or Lynn D’Ostilio at lsd@danburylaw.com.

SEMINAR LOCATION AND TIME

The seminar will be on March 18, 2010, at the Ethan Allen Inn, 21 Lake Avenue Extension, Danbury, Connecticut from 7:00 p.m. to 9:00 p.m.  These seminars are always well attended and space is limited.  If you wish to attend, or if others you know are interested in attending, to reserve space call us or send us an e-mail message ( rsl@danburylaw.com or  lsd@danburylaw.com) containing your name, number attending, telephone number and e-mail address.

Posted on 2/22/2010 by Richard S. Land, Member, Chipman, Mazzucco, Land & Pennarola, LLC.


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