Apply the Tools & Techniques approach to all aspects of modern estate planning to help clients plan every aspect of an estate, including tax, investment, insurance, and estate administration decisions.
Tools and Techniques of Estate Planning covers all aspects of estate planning, from behavioral and ethical issues to estate and gift tax planning, to planning for nontraditional couples and the risk of health issues for aging clients. With topics that are applicable for both large and small estates, this title enables estate planners to:
Help clients plan every aspect of their estate, including tax, investment, insurance, and estate administration decisions;
Help clients effectively preserve their assets under current law;
Handle a wide variety of estates and specific circumstances; and
save significant amounts of time with exclusive estate planning tools.
This book features easy-to-understand, real-world examples from expert authors on which techniques are best suited for a wide variety of circumstances, and equally important advice on how to avoid future problems.
New in the 21st Edition:
Thoroughly updated including the latest Secure Act 2.0 changes and five new chapters.
SECURE Act 2.0 Proposed Regulations and Secure 2.0 Act changes, such as
the new required minimum distribution ages
Employee Stock Ownership Plan changes
when RMDs must be paid out after the death of the account holder
proposed regulations interpreting the 10 year rule differently when decedent dies before reaching the required beginning date versus after o starting in 2024, additional incentives if the trust is a conduit trust for a surviving spouse
starting in 2024, how Roth employer plans won't be subject to mandatory distributions during their lifetime
how SECURE Act 2.0 encourages expansion of vesting, eligibility and establishment of qualified retirement plans o a provision that incentivizes small employers to make military spouses eligible for plan participation and matching sooner than they would otherwise have to
A new chapter 32, Spousal Lifetime Access Trust (SLAT), including the advantages and disadvantages and potential uses
A new chapter 35, Beneficiary Deemed Owner Trusts, explaining the advantages of a BDOT, including how they allow the shifting of the income tax burden to the powerholder without having to make a distribution
A new chapter 44, Using Formula Powers of Appointment/Optimal Basis Increase Trusts (OBITs), discussing how it can be used to avoid a step down in basis and an increase in estate or GST tax
A new chapter 60, Planning with Roth Retirement Accounts, which explains the two key advantages of Roth IRAs over traditional IRAs, as well as the impact of conversions on the beneficiary designation and estate plan and how trusts for the two types of plans may be drafted differently
A new chapter 66, Community Property Trusts, identifying the advantages and disadvantages of creating these trusts
A fully revised chapter on Planning with S Corporations, including recent IRS taxpayer-friendly guidance on inadvertent S corporation terminations with simplified procedures
An update on state laws, including the states that have adopted the Revised Uniform Limited Liability Company Act and states that still have inheritance and/or estate taxes, as well as states that now permit “legal suicide”
Revisions to the chapter on planning opportunities for family members are not U.S. citizens, including a list of countries that have estate or gift tax treaties with the United States
Overview of estate planning, including ethical and malpractice issues
Ownership and transfer of property, including Uniform Transfer to Minors Act, power of appointment, wills and probate
Estate taxes, gift taxes and generation-skipping transfer tax
Trusts including grantor retained interest trusts, QTIP trusts and marital deduction trusts
Life insurance, including life insurance trusts
Business transfers such as split interest purchase of property, buy-sell business agreements, limited liability companies and S corporations
Retirement issues such as pension plans, 401k plans, individual retirement plans and SEPs
Planning for aging and health care challenges, including health care documents and issues related to blended families
Valuations of assets, including digital assets, as well as issues related to non-U.S. persons
As with all of the resources in the highly acclaimed Leimberg Library, every area covered in this book is accompanied by the tools, techniques, practice tips, and examples you can use to help your clients successfully navigate the complex course of estate planning and confidently meet their needs.
Stephan R. Leimberg is CEO of LISI, Leimberg Information Services, Inc., at leimbergservices.com, a provider of e-mail/internet news and commentary for professionals on recent cases, rulings, and legislation; CEO of Leimberg and LeClair, Inc., an estate and financial planning software company; and President of Leimberg Associates, Inc., a publishing and software company in Bryn Mawr, Pennsylvania at leimberg.com.
Leimberg is the author of numerous books on estate, financial, and employee benefit and retirement planning and a nationally known speaker. Leimberg is the creator and/or principal author of the entire nine book Tools & Techniques series including The Tools & Techniques of Estate Planning, The Tools & Techniques of Financial Planning, The Tools & Techniques of Employee Benefit and Retirement Planning, The Tools & Techniques of Life Insurance Planning, The Tools & Techniques of Charitable Planning, The Tools & Techniques of Income Tax Planning, The Tools & Techniques of Investment Planning, The Tools & Techniques of Risk Management, and The Tools & Techniques of Practice Management. Leimberg is co-author, with noted attorney Howard Zaritsky, of Tax Planning with Life Insurance, The Book of Trusts with attorneys Charles K. Plotnick and Daniel Evans, and How to Settle an Estate with Charles K. Plotnick, and The Buy-Sell Handbook.
Leimberg is creator or co-creator of many software packages for the financial services professional including NumberCruncher (estate planning), IRS Factors Calculator (actuarial computations), Financial Analyzer II, Estate Planning Quickview (Estate Planning Flow Charts), Toward a Zero Estate Tax (PowerPoint Estate Planning Client Seminar), Gifts That Give, Gifts That Give Back (Powerpoint Client Charitable Planning Seminar), and Long-Term Care (Powerpoint Client Seminar).
A nationally known speaker, Leimberg has addressed the Miami (Heckerling) Estate Planning Institute, the NYU Tax Institute, the Notre Dame Law School and Duke University Law School’s Estate Planning Conference, The American Bar Association Planning Techniques for Large Estate and Sophisticated Planning Techniques courses of study, the National Association of Estate Planners and Councils, and the AICPA’s National Estate Planning Forum. Leimberg has also spoken to the Federal Bureau of Investigation, and the National Aeronautics and Space Administration.
Leimberg, a 2004 recipient of the National Association of Estate Planners and Councils Distinguished Accredited Estate Planner award, was named 1998 Edward N. Polisher Lecturer of the Dickinson School of Law, and was awarded the Excellence in Writing Award of the American Bar Association’s Probate and Property Section. He has been honored as Estate Planner of the Year by the Montgomery County Estate Planning Council and as Distinguished Estate Planner by the Philadelphia Estate Planning Council. He is also recipient of the President’s Cup of the Philadelphia Life Underwriters, a three time Boris Todorovitch Lecturer, and the first Ben Feldman Lecturer.
Edwin P. Morrow
Edwin (Ed) Morrow is a Senior Wealth Strategist with Huntington National Bank’s Wealth Strategy Group, a team of tax attorneys and accountants who work with high net worth clients and business owners, helping them with designing and implementing sophisticated wealth strategies as part of Huntington’s personal investment, trust and family CFO services. These strategies include tax reduction, transactional tax, alternative risk management practices, philanthropy, asset protection, legacy planning as well as complex credit and leverage strategies. Ed is based in Cincinnati, Ohio.
Prior to joining Huntington, Ed was in similar roles at Key Private Bank and U.S. Bank and prior to working in the wealth management industry, was in private law practice focused on the areas of wealth preservation, business and trust planning, probate, tax litigation and ERISA retirement plans.
Ed has his Juris Doctor (J.D.) from the Northwestern School of Law at Lewis and Clark College in Portland, Oregon. He has a master’s degree in business (MBA) from Xavier University in Cincinnati and a master’s degree in tax law (LL.M.) from Capital University in Columbus, Ohio. Ed was a board-certified specialist in estate planning and trust law through the Ohio State Bar Association from 2007-2022 (not renewed). He is currently a Fellow of the American College of Trusts and Estate Counsel (ACTEC), serving as the Chair of its Employee Benefits committee and serving on the Asset Protection committee. He recently participated in ACTEC’s well-received submissions to the Treasury Department regarding the issuance of regulations under the SECURE and Secure 2.0 Acts, encouraging and guiding them to issue clearer and more helpful regulations and examples for taxpayers. He is also a Certified Financial Planner (CFP®).
An accomplished presenter and speaker at state and national conferences such as the Heckerling Estate Planning Institute, Notre Dame Estate Planning Institute, and the Southern Federal Tax Institute, he has taught thousands of attorneys, accountants and financial planners in various continuing education courses on estate, tax and asset protection planning. Ed also co-taught a capstone course on estate planning as an adjunct professor at the University of Cincinnati Law School.
L. Paul Hood, Jr.
L. Paul Hood, Jr. received his J.D. from Louisiana State University Law Center in 1986 and Master of Laws in Taxation from Georgetown University Law Center in 1988. Paul is a frequent speaker, is widely quoted and his articles have appeared in a number of publications, including BNA Tax Management Memorandum, BNA Estates, Gifts & Trusts Journal, CCH Journal of Practical Estate Planning, Estate Planning, Valuation Strategies, Digest of Federal Tax Articles, Loyola Law Review, Louisiana Bar Journal, Tax Ideas, The Value Examiner and Charitable Gift Planning News. He has spoken at programs sponsored by a number of law schools, including Duke University, Georgetown University, New York University, Tulane University, Loyola (N.O.) University, and Louisiana State University, as well as many other professional organizations, including AICPA and NACVA. From 1996-2004, Paul served on the Louisiana Board of Tax Appeals, a three-member board that has jurisdiction over all State of Louisiana tax matters.
A self-described “recovering tax lawyer,” Paul is the author or co-author of seven other books, and is the proud father of two boys who are the apples of his eye, Paul III and Evan. Happily married to Carol A. Sobczak, Paul lives with Carol in Toledo OH, where he serves as the Director of Planned Giving for The University of Toledo Foundation.