Estate Planning for Fido and Fluffy…

November 2007
Journal of Financial Planning;Nov2007, Vol. 20 Issue 11, p14
Academic Journal
The article discusses proposed U.S. legislation affecting the Internal Revenue Code regarding animal companions as beneficiaries of wills. The legislation would allow a companion animal, or pet, to be the beneficiary of a charitable remainder annuity trust, providing for the care of the animal for up to 20 years, with any remaining interest going to a charity. Thirty-nine states and the District of Columbia recognize pet trusts, but the federal government does not allow for a pet as the sole beneficiary of a will or trust.


Related Articles

  • Tax Law Update. Handler, David A.; Lothes, Alison E. // Trusts & Estates;Aug2011, Vol. 150 Issue 8, p10 

    The article presents tax law updates in the U.S. as of August 2011. It cites court cases and clause changes based on technical advice memorandum (TAM). Based on TAM 201126030, the Internal Revenue Service emphasized that the it is my desire language on wills is a mandatory bequest. On the estate...

  • Five Levels of Estate Planning. Giarmarco, Julius // Advisor Today;Jul2006, Vol. 101 Issue 7, p50 

    The article discusses the five levels of estate planning necessary for explaining to wealthy clients in the U.S. During the first level, the clients' objectives will be met through pour-over wills, revocable living trusts, and general powers of attorney. The last level focuses on prohibiting the...

  • IRS Issues New Guidance for Field Agents. Duff, Susanna // Bond Buyer;2/11/2003, Vol. 343 Issue 31571, p4 

    Focuses on a guidance sent by the U.S. Internal Revenue Service to its field agents regarding offering options to bondholders to appeal for tax liability before the agency attempts to collect taxes from them. Section in the Internal Revenue Manual that contains the guidance; Penalties on...

  • IRS raises bar on luxury tax. Frame, Phil // Automotive News;1/15/1996, Vol. 70 Issue 5641, p2 

    Reports that the United States Internal Revenue Service has ruled that the threshold at which the ten percent luxury tax on automobiles begins in $34,000 as of January 1, 1996.

  • Eateries on menu of new IRS probe. Mooney, Barbara // Crain's Cleveland Business;11/1/93, Vol. 14 Issue 44, p1 

    Reports on the Internal Revenue Service's (IRS) examination of income tax returns from dining and drinking establishments in Cuyahoga County, Cleveland, Ohio as part of the federal agency's Compliance 2000 program. Reasons for the probe; Percentage of gap between taxes paid and taxes owed every...

  • IRS will not follow Tax Court ruling on deductibility of transportation expenses.  // CPA Journal;Oct94, Vol. 69 Issue 10, p15 

    Reports on the decision of the Internal Revenue Service (IRS) not to follow the Tax Court's ruling in `Walker v. Commissioner.' Ruling that a taxpayer whose only regular place of business is located at his residence can deduct transportation expenses between the residence and temporary work...

  • The lottery of criminal enforcement. Tigue Jr., John J.; Lacewell, Linda A. // CPA Journal;Apr97, Vol. 66 Issue 4, p66 

    Deals with the report of the New York Times that the chances of tax practitioners being recommended by the Internal Revenue Service (IRS) to the U.S. Attorney's Office for prosecution on criminal tax charges vary dramatically. Findings of Department of Justice about the issue; Discretion and...

  • IRS says that `domestic partner' fringe benefits ... Whitehead, Roy // CPA Journal;Jul97, Vol. 67 Issue 7, p12 

    Discusses the policy of the Internal Revenue Service (IRS) regarding the extent of tax exemption for domestic partners or dependents of a tax payer in regard to the exclusion of health and insurance benefits from his gross income. Types of contributions excludable from gross incomes; Provisions...

  • How long does IRS have to revalue family gifts? Blackman, Irving // Contractor Magazine;Jun97, Vol. 44 Issue 6, p50 

    Opinion. Presents information on gift taxes imposed by the Internal Revenue Service. Best way to transfer your business to your children; Information on a Private Pension Plan.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics