What is Quality Estate Planning?
Quality estate planning results from an experienced counseling-oriented attorney carefully listening to your needs, goals and concerns. Since each client has individual needs, we never attempt to fit you into a “one size fits all” plan. Your estate plan is designed with your cooperation and your family in mind, because each family is unique.
You want to control your property while you are alive and well, taking care of your loved ones and yourself if you become disabled. Before or after your death, you want to distribute your property to whomever you want, whenever you want, and however you choose. You also want to avoid any unnecessary taxes, court costs, or other fees.
The Law Offices of James L. Moore, PC brings you over 50 years of combined legal experience to help you plan, protect, and preserve your wealth and family values. We will work with you and your other planning professionals as a “TEAM” to meet your planning objectives, for you and your loved ones.
We can show you how to plan for a lifetime, save money, save taxes, save court costs and fees, and get a “superior” estate or business succession plan, all at the lowest “overall” cost to you and your loved ones.
What is “Loving Trust” planning? It’s more than controlling property and distributing your funds. It’s passing along family values, your heritage, your hopes, aspirations, dreams and your goals for generations to come. Read More What is “Loving Trust” Planning?
Section 529 College Tuition Plans. People have long used Irrevocable Life Insurance Trusts (so-called “Crummey” Trusts), UTMA and UGMA accounts and direct paid State and Federal Tuition programs to help prepare for and pay for educational expenses and as a way to transfer wealth to the next generation. The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRAA) greatly enhances the use of Section 529 plans and Coverdale Education Savings Accounts (ESAs) as additional strategies to consider in this same vein. Read More – Section 529 College Tuition Plans.
Grantor Retained Annuity Trusts. Now could be a great time to use tax-free GRATs to shift stock to children.
A lot of stocks are off considerably from the highs of recent times. If one thinks his stock portfolio is due for a rise, then a GRAT may be an advantageous estate planning tool. Read More- Grantor Retained Annuity Trusts.
Get Your Financial Affairs In Order By: James L. Moore, Attorney and Counselor at Law; (as published for AARP Modern Maturity Magazine)
For Jeff Rodgers of Grandville, Michigan, this year is a turning point in his life. He has started a new business and has hit the magic age of 40 years old. Naturally, he’s filled with New Year’s resolutions about his health, his life and his finances. He talks a lot about his family, the stock market his retirement plans, and when you ask him what one resolution comes to mind first, he doesn’t hesitate. “I’ve got a lot of different stacks of paper at home and at the shop,” he says, “and for once I would really like to organize everything.”
The Law Offices of James L. Moore, PC brings you over 50 years of combined legal experience to help you plan, protect, and preserve your wealth and family values. We will work with you and your other planning professionals as a “TEAM” to meet your planning objectives, for you and your loved ones. Read More- Get Your Financial Affairs In Order.
Settling an Estate in Trust Centered Planning. Today it is common practice to use a revocable living trust as the foundation of an estate plan. One of the reasons professionals recommend trusts is so that their clients can avoid the time delays, costs, and publicity of probate. Indeed, a trust that is fully funded (i.e. all assets are under trust control) does avoid probate. However, when some people hear that trusts avoid probate, they assume that means everything happens automatically, and that there is absolutely nothing to do after the death of a loved one. Read More – Settling an Estate in Trust Centered Planning.
Handing Over the Family Business. Many entrepreneurs intend to pass the family business on to future generations of the family. In considering this goal, they must understand two important realities.
THE ESTATE TAX IS NOT GOING AWAY
Despite all the political discussions to the contrary, there is not much chance that the estate tax will be permanently eliminated. Under the 2001 tax bill, the estate tax will be eliminated only in the year 2010. Unless the elimination of the estate tax is re-enacted before 2011, on Jan. 1, 2011, the current law will be automatically reinstated. A dwindling surplus, the cost of the war on terrorism and the opposition of States, charities as well as many Democrats, make it extremely unlikely that Congress will vote to continue the elimination. Read More- Handing Over the Family Business.