Estate Planning for the Very Elderly

Jurinski, James John; Zwick, Gary A.
May 2002
Journal of Financial Planning;May2002, Vol. 15 Issue 5, p94
Academic Journal
This article focuses on the prevalence of the incidence of very elderly people in need of estate planning in the U.S., as of May 2002. Because repeal of the estate tax will come too late to help these clients, planners need to employ creative strategies designed specifically for the very elderly, such as annual exclusion gifts or a family limited partnership. Gifts to defective grantor trusts and the use of qualified personal residence trusts also offer valuable planning opportunities for the very elderly. Although life insurance often is sold as a solution, planners will normally have to formulate strategies to remove the insurance from the taxable estate. Finally, any estate planning for the very elderly needs to include preserving the income tax step-up for spousal transfers. The article also discusses some creative strategies to deal with the wealthy elderly client whose goal is to preserve as much of his or her estate for heirs as possible.


Related Articles

  • Sleepless in Estate Planning. BLACKMAN, IRVING L. // Modern Machine Shop;Nov2015, Vol. 88 Issue 6, p44 

    The article discusses the common mistakes committed by professional advisors in evaluating estate tax/succession planning. Topics covered include the use of an A/B trust in deferring estate taxes until the second spouse dies, the tax consequences of leaving assets in joint tenancy and the...

  • Congress Is Back--and NAIFA Is Ready. Kerley Sr., Michael; Eilers-Bowser, Heather // Advisor Today;Sep2005, Vol. 100 Issue 9, p38 

    The article discusses the issues in the U.S. Congress which are of interest to member of the National Association of Insurance and Financial Advisors (NAIFA). NAIFA is promoting September as Life Insurance Awareness Month. Federal estate tax, health insurance and other regulatory issues are also...

  • Securing your family's future. Rinaldi, Ellen; Shin, Alisa M. // Journal of the American Dental Association (JADA);Aug2006, Vol. 137 Issue 8, p1139 

    The article discusses general estate planning considerations for dental practitioners. The estate planning consists of the minimization of federal estate taxes, estate planning techniques as well as planning for incapacity. Dentists should consult from a qualified attorney and a certified...

  • Tax laws are a'changing. Mccarthy, Ed // Senior Market Advisor;Jul2012, Vol. 13 Issue 7, p50 

    The article discusses ways senior clients can be protected from potential estate tax changes. One option is to take advantage of the portability provisions of the 2010 tax act by updating estate planning documents. Another option is to consider planning strategies that leverage the 2012 federal...

  • Untitled. Wickenden, Phil // Money Marketing;10/11/2012, p55 

    The article talks about the views by financial advisers on inheritance tax(IHT)/estate planning in Great Britain.

  • Ask about thier limitations.  // Michigan Farmer (0026-2153);Jan2014, Vol. 318 Issue 1, p70 

    The article offers the author's insights in asking questions about the capabilities and knowledge of potential financial planners such as about income taxes, estate planning, and inheritance taxes.

  • Life and death. G.W. // Financial World;5/20/96, Vol. 165 Issue 8, p106 

    Discusses the advantages of buying life insurance to prevent estate tax burdens from being inherited by one's children. Policy for the taxation of estates in the United States; Approaches to estate planning; Integration of life insurance in estate planning.

  • The Economics of Prepaying Wealth Transfer Tax: Part I. Pennell, Jeffrey N.; Williamson, R. Mark // Journal of Financial Service Professionals;Nov98, Vol. 52 Issue 6, p62 

    The time-value-of-money concept pervades most thinking about the virtue of deferring payment of taxes. Although the concept is correct in the income tax arena, it is exactly backwards for wealth transfer tax purposes. This article, the first of two installments, illustrates this analysis in the...

  • Shared Ownership Of Life Insurance Can Alleviate Future Tax Uncertainty. Smith, Patrick // National Underwriter / Life & Health Financial Services;4/15/2002, Vol. 106 Issue 15, p11 

    Focuses on the advantage of the shared ownership of life insurance to minimizing federal estate tax uncertainty in the U.S. Concern of many clients about moving ahead with their estate plans; Concept of shared ownership; Establishment of a shared ownership arrangement; Investment options within...


Read the Article


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

Try another library?
Sign out of this library

Other Topics