1 / 11

By: John P. Dedon Odin, Feldman & Pittleman, P.C. 9302 Lee Highway, Suite 1100

GWU Retirement Roundtable/Seminar June 14, 2011. By: John P. Dedon Odin, Feldman & Pittleman, P.C. 9302 Lee Highway, Suite 1100 Fairfax, Virginia 22031 (703) 218-2131 John.Dedon@ofplaw.com. Proper Planning Will Allow You to. Give what you have, To whom you want, When you want, and

yehudi
Download Presentation

By: John P. Dedon Odin, Feldman & Pittleman, P.C. 9302 Lee Highway, Suite 1100

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. GWU Retirement Roundtable/Seminar June 14, 2011 By: John P. Dedon Odin, Feldman & Pittleman, P.C. 9302 Lee Highway, Suite 1100 Fairfax, Virginia 22031 (703) 218-2131 John.Dedon@ofplaw.com

  2. Proper Planning Will Allow You to . . . Give what you have, To whom you want, When you want, and In the way you want And Pay Less for: Court Costs Attorney’s fees Estate Taxes

  3. Fundamental Planning Issues • Providing for Surviving Spouse • Outright or Marital Trust • Providing for Surviving Children • Children from a previous marriage and second spouse • Children with special needs • Children with creditor, financial, or marital problems • Competency issues

  4. 2010 2011 and 2012 2013 No estate tax*$5 Million** Gift and Death $1 Million*** Estate Tax : Exemption Amount Year ? - What will Congress do? *Income Tax **35% Estate Tax Rate ***55% Estate Tax Rate

  5. Current Lifetime Gifting Rates $ 13,000 Annual Exclusion 2011 and 2012 - $5 Million 2013 - $1 Million

  6. Family IRS Estate Beneficiaries Charity GWU

  7. Probate Cost Time Delays Publicity Property In Multiple States

  8. Assets Passing Without a Will Go Through Probate Assets Passing With a Will Go Through Probate

  9. Benefits of Revocable Living Trusts Revocable Trust • Avoids Probate • Cost • Time Delays • Publicity • Problems with property in multiple states • Incapacity Planning • Estate Tax Planning • Bypass and Marital Trusts • GST Planning

  10. BASIC PLANNINGSHOULD INCLUDE • Wills • Revocable Living Trusts • Advanced Medical Directives (Living Wills) • Powers of Attorney

  11. Assets Passing at Death 1) Probate 2) Revocable Living Trusts 3) Beneficiary Designations 4) Titling of Assets - Tenants In Common - Tenants By The Entirety (Assets Pass to Surviving Spouse) - Joint Tenants with Right of Survivorship (Assets Pass to Surviving Owner)

More Related