Main Libraries

Federal Income Taxation

Sources of the FEDERAL TAX Law, Federal Income Tax: General Law, The Internal Revenue Code, Revenue Rulings and Other IRS Materials...

Life Insurance

Selected Laws Affecting Insurance, Federal Income Taxation of Life Insurance & Annuities: Personal, Community Property Rights in Life Insurance...

Annuities

Taxation of Life Insurance, 1035 Exchanges, Gain or Loss on Surrender or Sale, Transfer For Value Rule, UL and VUL, Taxation of Annuities...

Split Dollar Insurance

A form of executive compensation that has been popular for many years is “split dollar” insurance...

Group Life and Health Insurance

Goverment Non-tax requirements, Taxation, Group Survivors’ income benefit insurance, Welfare benefit funds, Health Reimbursement Arrangements...

Stocks and Other Investments

Introduction: Taxation of Investments, Introduction to Stocks, Dividends, Stripped Preferred Stock, Other Investment Vehicles...

Bonds

Introduction to Bonds, Treasury and Corporate Notes and Bonds, Convertible Bonds, Stripped Bonds and Coupons, Zero Coupon Bonds and Original Issue Discount...

Real Estate

Joint Tenancy and Tenancy in Common, Tenancy by the Entirety, Community Property, UNIFORM MARITAL PROPERTY ACT,Overview of Real Estate Investments...

Employee Benefits

Benefits Today, The Compensation Package, Cafeteria Plans, Fringe Benefits, Educational Assistance Programs, Educational Assistance Programs...

Executive Compensation

Effective Executive Comopensation, Property Transferred as Compensation, Golden Parachutes,Below Market Loans: Compensation-related...

Pension and Profit Sharing

Introduction, Types of Qualified Plans, Qualification Rules, Funding & Deductions, Plan Design, Fiduciaries and Plan Investments, Plan Termination...

Deferred Compensation - Taxation

Goverment Non-Tax Requirements, Tax Aspects, Death Benefit Only Deferred Compensation, Planning a Deferred Compensation Agreement...

Individual Retirement

Introduction, Erisa Provisions, Plan Requirements, Income Taxation,ROTH IRAs, EDUCATION IRAs...

Federal Estate Tax

Federal Estate Tax – General, Life Insurance/Health Insurance/Annuities: Personal Insurance, The Federal Estate Tax Deductions and Credits...

Estate Planning

Planning Techniques, Lifetime Giving, Wills & Trusts, Intestacy, Uses of Life Insurance, Gifts to Minors, Charitable Giving, Community Property...

Business Entities

Proprietorships, Partnerships, LLCs & Corporations, Buy-Sell Agreements, Partnership & Corporate Taxation, Family Limited Partnerships...

Gift and GST Taxes

The Federal Estate & Gift Tax, The Generation Skipping Tax, GST-Exempt ILITs, State Death Taxes...

Lifetime Gifts

Gifts to Minors, Charitable Giving, Crummey Powers, Gifts of Life Insurance...

Qualified Retirement Plans

Defined Contribution and Defined Benefit Plans, Profit Sharing and 401(k) Plans, ESOPs, Qualification Requirements, Tax Rules...

Investment Planning

Types of Investment Vehicles, Taxation of Investments, Investment Strategies...

Financial Planning

Financial Planning Concepts, Financial Planning for Special Circumstances...

AUS Special Reports

Topics of special interest to financial advisors.

State Law Digests

Covering Wills, Trusts, Intestacy, Insurable Interest,Insurance Exemption Laws..

Case Studies

How Would You Advise?

Tables and Inflation Adjusted Amounts

Tax COLAs, Qualified Plans, IRAs, 7520 rate

Specimen Forms

Various Planning Scenerios...

View All Main Libraries

A complete listing of all Main Libraries.

Topical Index

Index of General Subject Areas.

Advisor's Journal

The Math of Medicare Deferment Strategies
By Robert Bloink and William H. Byrnes
Many clients are working longer than ever with many clients having employer-sponsored health insurance well past the age of Medicare eligibility. While not every client will be eligible for delaying enrollment in all parts of Medicare, the financial benefits of delaying enrollment can be substantial and it is important to understand the rules that apply.
Fiduciary Rule Highlights HSA Retirement Income Value
By Robert Bloink and William H. Byrnes
IRA and other retirement planning advisors have long anticipated the release of the final DOL fiduciary rule. Putting HSA advisors under the fiduciary rule umbrella is the DOL’s acknowledgement of an important alternative use for HSAs in retirement income planning. It’s now important that HSA advisors understand the compliance requirements of the fiduciary standard.
Retirement Income Planning: Not Just for Grown Ups
By Retirement Income Planning: Not Just for Grown Ups
Planning for retirement is typically not on a teenager’s mind. The benefits of an IRA for a child though can be substantial. Adult clients can maximize tax-preferred savings for the family and provide a secure financial future for the child. The question of which type of account is used—traditional or Roth—has significant consequences.
Next Level RMD Planning: Avoiding the Post 70½ RMD
By Robert Bloink and William H. Byrnes
Planning for required minimum distributions (RMDs) after age 70 ½ is part of most client’s retirement strategy—even if the client wants to reduce RMDs. Clients can avoid taking RMDs by working past age 70 ½. The rules are extremely specific however and tax advice is necessary to avoid the tax hit of RMDs.
GAO Offers a Revised Retirement Spending Model
By Robert Bloink and William H. Byrnes
Two key retirement issues for clients are the level of retirement savings needed and how to withdraw savings during retirement. The Government Accountability Office (GAO) released a new analysis on how spending patterns can change during retirement. Advisors should be on the lookout for valuable changes coming to the Department of Labor retirement income calculators.
Retaining Key Executives with Insurance Strategies
By Prof. Robert Bloink and Prof. William H. Byrnes
Developing tax-efficient compensation plans for key executive employees vital to the business can be complicated. Income and contribution limits for traditional retirement accounts make it difficult for these employees to accumulate substantial account values. Nonqualified compensation plans using life insurance can provide additional compensation to valuable employees and also offer tax advantages.
Avoid the Tax Trap with Trusts and Annuities
By Prof. Robert Bloink and Prof. William H. Byrnes
Both trusts and annuities can play powerful planning roles for clients in a variety of situations. When the two strategies collide, however, the tax consequences can be disastrous. Whether a trust is an owner or beneficiary of an annuity, the client purchasing the contract needs to be aware of serious tax consequences that can result
Avoid Policy Replacement Tax Traps
By Prof. Robert Bloink and Prof. William H. Byrnes
When a client is looking to replace an existing financial product with a new product, a tax-free IRC Section 1035 exchange may seem like a solution. Depending upon the types of products involved and various other factors, the path to a 1035 exchange can be littered with tax traps that must be avoided.
The Extra Mile: Understanding the AG 49 Impact on IUL Consumers
By Robert Bloink and William H. Byrnes
The March 1 effective date of the second phase of Actuarial Guideline 49 is just around the corner. As indexed universal life insurance grows, so too do the variations in both product design and use. An ability to convey the concepts espoused by the guideline can help advisors go the extra mile with clients.
ILITs Team Up with IRA Trusts to Maximize Inherited IRA Benefits
By Robert Bloink and William H. Byrnes
Estate planning for IRA’s can be complicated. Naming the spouse as beneficiary can diminish the value of IRA assets for the children after the death of the spouse. In providing for children, inherited IRAs are often no longer receive creditor protection. An irrevocable life insurance trust with an IRA trust can provide a solution.
Short-Term Care Insurance Takes Off
By Robert Bloink and William H. Byrnes
For many clients, long-term care insurance has become prohibitively expensive despite the need for coverage. This situation has created a need for what is called short-term care insurance. The need is reinforced by the fact that about one half of all long term care coverage is for less than one year’s worth of care.
No-Refund Options Double the Deferred Annuity Safety Net
By Robert Bloink and William H. Byrnes
Worrying about the possibility of outliving retirement savings is often inevitable, especially for healthy clients. No-refund deferred income annuities can double the otherwise available payouts late in life, when the risk of outliving savings is the greatest. While the prospect of doubling annuity payouts appeals strongly to some clients, this option also has potential downsides.
Online Roadmap to Post-File & Suspend Strategies
By Rober Bloink and William H. Byrnes
Several Social Security planning strategies were eliminated in 2015 and clients may need to make up for retirement income shortfalls. The Social Security Administration (SSA) offers an online system with calculators that can help clients. An online account can generate a realistic picture of the role of Social Security benefits will play in retirement.
Have it All: Optimizing Results with Whole Life + Indexed Universal Life Insurance
By Robert Bloink and William H. Byrnes
Today’s insurance product marketplace is flooded with options and insurance carriers have answered with product innovation that allows clients to combine the guarantees of traditional whole life insurance with the upside of indexed universal life insurance (IUL). Understanding these new products can help clients experience the best of both worlds, eliminating the need to choose
Wellness Initiatives-Not Just for Employer Sponsored Life Plans
By Robert Bloink and William H. Byrnes
Wellness programs have received attention in recent years—as a way to save on health insurance. Life insurance carriers have begun to include wellness programs too. These initiatives not only can help clients reduce the cost of life insurance protection, but they can actually provide a way for clients to increase their policy value.

Practice Aids

Buy Sell Agreements
Stock Redemption and Cross Purchase Agreements, Family Attribution, Business Succession Planning...
Estate Planning
Wills, Trusts, Joint Tenancy, Tenancy in Common, POD accounts, Custodial Accounts, Intestate Succession...
Business Life Insurance
Key Person Insurance, Executive Bonus, Deferred Compensation, Rabbi Trusts, Secular Trusts, Split-Dollar, ...
Retirement Planning
IRAs, SEPs, 401(k)s, Qualified Retirement Plans, ESOPs, Rollovers, Life Insurance in Qualified Plans...
Financial Planning
Disability Income Insurance, Long Term Care Insurance, Health Insurance, 529 Plans, Taxation of Investments...
Employee Benefits
Group Term Life Insurance, COBRA, Cafeteria Plans, Flexible Spending Accounts, Health Savings Account...

Selected Highlights

Estate shrinkage is closely related to estate liquidity—or lack of liquidity. A certain amount of liquidity is needed to meet estate settlement costs that cause the shrinkage.
Under common law minors cannot own property in their own names. This does not mean that a minor cannot inherit an IRA or be designated as the beneficiary of an IRA; it means that their are special considerations.
Powers of appointment are a valuable tool in estate plans, because they allow for future flexibility in the ultimate disposition of the donors property which is placed in a trust.
For wealthier and more sophisticated investors 529 Plans may not be the best option to financially prepare for college.
A substantial portion of the wealth possessed by Americans today consists of IRAs, 401(k)s and 403(b)s. This article covers all the distribution rules and all aspects of trusts as beneficiaries of tax deferred retirement accounts including sample forms.
Certain high income clients who have not previously made deductible IRA contributions ought consider opening a traditional IRA this year and contributing the largest allowable nondeductible contribution they can manage.
The will approach is based upon one of two major assumptions. At the time of the interview, either the prospect has a will or doesn`t - there`s no middle ground.
Significant tax advantages can be achieved by widows and widowers who are beneficiaries of credit shelter trusts (established upon the deaths of their respective spouses), through the purchase...

Tax Facts

"FEDERAL ESTATE TAX, GIFT TAX, GENERATION-SKIPPING TRANSFER TAX, AND VALUATION"

Estate Tax, Generation-Skipping Transfer Tax, Gift Tax, Valuation

"MUTUAL FUNDS, UNIT TRUSTS, REITS"

Exchange-Traded Funds (ETFs), Hedge Funds, Mutual Funds, Real Estate Investment Trusts (REITs), Unit Trusts

ANNUITIES

Amounts Not Received as an Annuity, Amounts Received as an Annuity: Fixed Annuities, Annuity Rules: Variable Annuities, Charitable Gift Annuity, Death, Disposition, Divorce, Estate Tax, Gifts and Charitable Gifts, In General, Loss, Private Annuity, Structured Settlements, Taxation, Withholding

BONDS

Bond Premium, Corporate Bonds, Inflation-Indexed Bonds, Market Discount, Municipal Bonds, Original Issue Discount, Other Issues Affecting Bonds, Short-Term Taxable Obligations (Maturities One Year or Less), Treasury Bonds and Notes

BUSINESS LIFE INSURANCE

Accumulated Earnings Tax, Alternative Minimum Tax, Death Proceeds of Business Life Insurance, Estate Tax Issues, Gift Tax Issues, Premiums, S Corporations, Sale or Liquidation of Partnership Interest, Stock Purchase Agreement, Transfer of Policy

CAFETERIA PLANS

CAPTIVE INSURANCE

CATTLE

CHARITABLE GIFTS

COMPENSATION

DEDUCTION OF INTEREST AND EXPENSES

DEFERRED COMPENSATION

Funded Deferred Compensation (Annuities and Trusts), Unfunded Deferred Compensation

DEPENDENT CARE ASSISTANCE PROGRAMS

DISCLOSURE REQUIREMENTS

New Disclosure Regulations for Retirement Plan Service Providers

EDUCATIONAL BENEFIT TRUSTS

EMPLOYEE DEATH BENEFITS

EQUIPMENT LEASING

FEDERAL INCOME TAXATION

Corporations And Other Business Entities, General Rules

FINANCIAL INSTITUTIONS

FRONT MATTER

Abbreviations, About Summit Business Media, About the Editors, Introduction

FUTURES

GROUP TERM LIFE INSURANCE

Death Benefits, Group Permanent Insurance, Group Survivor Income Benefit, Group Term Life Insurance, Retired Lives Reserves

HEALTH INSURANCE

Employer-Provided Health Insurance, Health and Medical Savings Accounts, Health Insurance And The Estate Tax, Health Insurance And The Gift Tax, The New Health Care Reform Law

INDIVIDUAL RETIREMENT PLANS

Distributions, Early Distributions, Eligibility, Employer-Sponsored IRAs, Estate Tax Issues, Filing Requirements, In General, Required Minimum Distributions, Simple IRA, Simplified Employee Pension (SEP)

INTELLECTUAL PROPERTY

INTERNATIONAL TAX

LIFE INSURANCE

Cash Value Increases, Collection of Delinquent Income Taxes from Life Insurance, Creditor Insurance, Death Proceeds, Demutualization, Disability Provisions Under Life Policies, Divorce, Gift Tax Issues, Gifts and Charitable Gifts, Government Life Insurance, Life Insurance Trusts, Life Insurance: Estate Tax Issues, Living Proceeds, Policies Insuring More Than One Life, Premiums, Single Premium Whole Life Insurance Policy, Taxation Of Distribution of Life Insurance Contract, Value of Unmatured Policy

LIMITATION ON LOSS DEDUCTIONS

LIMITED PARTNERSHIPS

LONG-TERM CARE INSURANCE

In General, Non-Qualified Long-Term Care Insurance Contract, Premiums, Reporting Requirements, Taxation of Benefits

OIL AND GAS

OPTIONS

OTHER

Insurance & Employee Benefits, Investments

PENSION AND PROFIT SHARING

Employer Deduction, Plan Types And Features, Qualification, Qualified Plans And The Estate Tax, Taxation of Distributions

PRECIOUS METALS AND COLLECTIBLES

REAL ESTATE

REVERSE MORTGAGE

ROLLOVER

S CORPORATIONS

SPLIT DOLLAR PLAN

STOCKS

Dividends, Sale or Exchange, Stock Options, Stock Warrants, Worthless Securities

STRADDLES AND OTHER TRANSACTIONS

TAX-SHELTERED ANNUITIES FOR EMPLOYEES OF SECTION 501(c)(3) ORGANIZATIONS AND PUBLIC SCHOOLS

Amounts Received Under the Plan, Changing Issuers, Contract Requirements, Contributions, Distributions, Excise Taxes, Plan Termination, Social Security and Withholding Taxes

WELFARE BENEFIT FUNDS