In Revenue Procedure 2014-18 issued on Jan. 27, 2014, the Internal Revenue Service announced a simplified method for certain taxpayers to make a portability election for smaller estates that didn’t timely file an estate tax return to elect portability.
In CCA 201330033, the IRS stated that the mortality tables didn’t apply to value the self-cancelling installment note (SCIN); rather the transferor’s life expectancy had to be considered in light of his particular medical history as of the date of the gift to determine the value of the SCIN.
It's never too early to start saving for college, and for parents, grandparents—even family friends—529 college savings plans offer estate-planning potential, high contribution limits and convenient investment options, including target date funds....More
Global bond markets defied consensus predictions in the first half of this year. But with more muted returns are expected for the rest of 2014, investors already may have earned the bulk of this year’s returns....More
An increasing number of families in recent years have been investing in the renovation of their homes, but too many do not fully appreciate the range of risks involved – from unreliable contractors and worksite injuries to property loss, lawsuits, and family safety threats....More