- Tax Planning
- Investments 1: Before you Invest
- Investments 2: Your Investment Plan
- Investments 3: Securities Market Basics
- Investments 4: Bond Basics
- Investments 5: Stock Basics
- Investments 6: Mutual Fund Basics
- Investments 7: Building Your Portfolio
- Investments 8: Picking Financial Assets
- Investments 9: Portfolio Rebalancing and Reporting
- Retirement 1: Basics
- Retirement 2: Social Security
- Retirement 3: Employer Qualified Plans
- Retirement 4: Individual and Small Business Plans
- Estate Planning Basics
- Introduction
- Understand the Principles of Estate-Planning
- Understand the Importance of Estate Planning and the Goals of Estate Planning
- Understand the Estate-Planning Process
- Know How Trusts Can Be Used to Your Advantage in Estate Planning
- Understand the Importance of Wills and Probate Planning
- Summary
- Assignments
Case Study #5
Data:
Suzanne and Steve Smith have $2.2 million of assets: $600,000 in Steve’s name, $600,000 in Suzanne’s, and $1,000,000 of jointly owned property. Their jointly owned property is titled using joint-tenancy with right of survivorship. Suzanne also co-owns a $400,000 beach house with her sister Emily as tenants-in-common.
Application:
A. What is the maximum amount of estate value that can be transferred by the Smiths free of estate tax in 2009?
B. What do the Smiths need to do to reduce their expected tax liability?
C. Who would receive Suzanne’s half-share in the beach house if she were to die?
