Essay Available:
Pages:
1 page/β275 words
Sources:
2 Sources
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 6.32
Topic:
Best Plan for Older Generation to Preserve Estates and Limit Taxation
Coursework Instructions:
1. In your opinion, what is the best plan for today's older generation to preserve their estates and limit taxation to pass the value on to their children?
2. As a tax professional, would you rather do individual or corporate taxes. Explain and justify your selection.
Coursework Sample Content Preview:
Discussion Questions
Student:
Professor:
Course title:
Date:
Discussion Questions
In my opinion, the best possible plan that the older generation can use in preserving their estates and limiting taxation with the aim of passing the value to their children is to remove assets from the estate before they die; they can spend some and actually enjoy it. There are several strategies that the senior citizen can use in removing assets from the estate including the following: (i) Grantor Retained Annuity Trust - this will remove income-producing assets from estate at discounted value (Neighbor, 2010). (ii) Qualified Personal Resident Trust - this will remove the home now from estate at discounted value. The senior citizen will transfer his/her home to a trust for a specified period, typically 10 years to 15 years, and throughout this time, the senior citizen will continue living there. The home transfer to the children - the trust beneficiaries - the moment the term of the trust ends (USBank, 2013). (iii) Transferring his or her Life Insurance policies to Irrevocable Life...
Student:
Professor:
Course title:
Date:
Discussion Questions
In my opinion, the best possible plan that the older generation can use in preserving their estates and limiting taxation with the aim of passing the value to their children is to remove assets from the estate before they die; they can spend some and actually enjoy it. There are several strategies that the senior citizen can use in removing assets from the estate including the following: (i) Grantor Retained Annuity Trust - this will remove income-producing assets from estate at discounted value (Neighbor, 2010). (ii) Qualified Personal Resident Trust - this will remove the home now from estate at discounted value. The senior citizen will transfer his/her home to a trust for a specified period, typically 10 years to 15 years, and throughout this time, the senior citizen will continue living there. The home transfer to the children - the trust beneficiaries - the moment the term of the trust ends (USBank, 2013). (iii) Transferring his or her Life Insurance policies to Irrevocable Life...
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:
π Other Visitors are Viewing These APA Coursework Samples:
- Various Solvency Rations in Financial Analysis and Off-Balance Sheet Financing1 page/β275 words | 2 Sources | APA | Accounting, Finance, SPSS | Coursework |
- Opinion of the Auditor, Systematic Sample Selection, and Audit Test2 pages/β550 words | 3 Sources | APA | Accounting, Finance, SPSS | Coursework |
- Concepts Beneficial to the IRS's vs. the Taxpayer's Point of View2 pages/β550 words | 2 Sources | APA | Accounting, Finance, SPSS | Coursework |
- Accounting of Defined-Benefit vs. Defined-Contribution Pensions2 pages/β550 words | 3 Sources | APA | Accounting, Finance, SPSS | Coursework |
- Accounting and Payroll and Personnel Cycles4 pages/β1100 words | 8 Sources | APA | Accounting, Finance, SPSS | Coursework |
- Financial Statement differentiation paper3 pages/β825 words | 2 Sources | APA | Accounting, Finance, SPSS | Coursework |
- Decision Making Across the Organization1 page/β275 words | No Sources | APA | Accounting, Finance, SPSS | Coursework |