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By Simon Volkov

Planning a life insurance trust is a smart estate planning strategy that aids in reducing or eliminating estate taxes. Policy proceeds are paid directly to the estate trust and therefore, tax-exempt. Irrevocable life insurance trusts offer added protection to provide benefits to the surviving tax without creating tax consequences for the estate.

Setting up a life insurance trust involves working with a certified estate planner. The process is multi-faceted and involves documenting information about estate assets; establishing a trust to hold the insurance policy; selecting a Trustee to perform management duties; and writing a last will and testament.

Essentially, a trust is a safe deposit box that safeguards estate assets. Insurance policies are held within the trust and managed by a Trustee. When the policy holder passes away, Trustees perform estate settlement duties required to transfer assets to beneficiaries appointed within the last will and insurance policy.

For most, the Trustee is their spouse, relatives, or trusted friend. Other people prefer to appoint a financial advisor, lawyer, or tax accountant. Policyholders maintain control of establishing beneficiaries and the amount of money given to each person. However, in the case of irrevocable trusts, once terms are established they cannot be changed without court approval.

There are advantages and disadvantages to these types of trusts. One major advantage is reduction or exemption of estate taxes. Another is this method bypasses the probate process. The primary disadvantage is altering irrevocable trusts can be nearly impossible. It’s vital to give careful consideration to the people included; especially those chosen as Trustees.

It’s strongly recommended to talk to the people you want to serve as your personal representative. A lot of people don’t want the added responsibility, while others may not be able to meet the demands required to tackle the job.

Other important considerations are deciding on beneficiaries to receive insurance proceeds and how the funds will be disbursed. Proceeds can be paid in whole or via partial distributions. Policyholders can establish payments schedules as monthly, quarterly, semi-annually, or annually. Furthermore, lump sum distributions can be arranged to gift money when beneficiaries achieve life milestones like getting married or graduating from college.

When beneficiaries receive government assistance, such as Social Security Disability Insurance, policyholders can gift smaller payments. This strategy helps to avoid interfering with the assistance funds they are entitled to.

When irrevocable life insurance trusts are setup, policyholders can provide beneficiaries with tax-exempt financial gifts up to $11,000 annually or $22,000 to married couples. Financial gifts can be established for as many beneficiaries as the policyholder can afford to fund.

As long as financial gifts do not exceed IRS limits, recipients are not required to pay gift tax. It is always best to work with a tax attorney to assure gifts are in compliance with IRS guidelines.

A final consideration of life insurance trusts is they must comply with Crummey Powers. This ruling stems from a famous court case involving a man named Clifford Crummey. Essentially, insurance companies are required to provide beneficiaries with a Crummey Letter when annual premiums are deposited by the policyholder.

Beneficiaries are given a set amount of time to withdraw funds. The goal is to keep money in the account so there will be a larger distribution upon the policyholder’s death. In order for funds to remain tax-free requires issuing the letter and giving beneficiaries the option to withdraw funds on an annual basis.

While setting up a life insurance trust can be a complex process, they offer substantial protection and are a good way to provide money to loved ones for many years. As long as you work with professionals they aren’t nearly as complicated as they appear.

About the Author: Simon Volkov is a real estate investor that specializes in buying probated estate assets. He shares an extensive article library to help visitors learn about available options. Topics include tips for writing Will, arranging a

life insurance trust

, and reducing estate taxes at

SimonVolkov.com

.

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Submitted by: Rajeev Kapoor

Being the capital city of the most populated state of India, coupled with vibrant economy and top class infrastructure, Lucknow is witnessing robust real estate activities since the last many years. The city is drawing property developers not only from other cities in Uttar Pradesh but also from Delhi and National Capital Region (NCR) due to its massive potential and huge land bank here. At the same time, investors, buyers and NRIs are also interested in property investment in Lucknow due to quality infrastructure, facilities like hospitals, educational institutes and banks, presence of shopping malls, multiplexes and hotels, proper connectivity through road, rail and air and strong retail, commercial and residential sector.

Real estate companies in Lucknow believe in building high quality housing projects by integrating superior construction and architecture, spacious and airy rooms, modern amenities, pleasing ambiance and convenient location for residents to live a comfortable, enjoyable and luxurious life. The goal of these real estate developers in Lucknow is to build long-term relationships with their customers and constantly aim at:

Constructing flats and apartments in Lucknow that enable residents to live an unparalleled lifestyle.

Offering space solutions according to client requirements.

Developing transparency and accountability through efficiency and constant communication.

Delivering the results within the stipulated timeframe with high professionalism, strong commitment and focus.

Incorporating best standards in land acquisition, construction, on-site management, presale, post sale and managing the entire life cycle of the property.

On the other hand, customers receive quality assistance while finding property solutions:-

Flats

Apartments

Individual homes

Plot of land

Office spaces

Shopping complexes

Malls

In order to set the benchmark, real estate builders in Lucknow provide unique property solutions, strive to surpass client expectations and enhance the quality of living by adhering to:-

Create value for customers

Commitment

Ethical and professional excellence

With determination and devotion to deliver outstanding products and services to achieve high levels of satisfaction amongst the customers, builders in Lucknow dont mind going an extra mile to provide exceptional homes capable of winning the hearts and bringing smile on the faces of customers. These developers in Lucknow render varied services such as stamp duty valuation, bank loan, renovation, insurance, property management, and more. Besides assuring excellent work and timely construction of apartments, realty developers also maintain cordial relationship with valuation experts, bank officials and insurance consultants.

Top real estate builders in Lucknow aim at meticulous planning and understand the importance of location, convenience, connectivity and other essential requirements. In return, customers get to live in flats in Lucknow, backed with quality materials, excellent workmanship, contemporary amenities, soothing ambiance, and much more, thereby living up to the expectation of every buyer. So, if you are looking to buy an individual house or apartment in Lucknow, which could transform into your dream home, rest assured that you would get to live in a house surrounded by soothing ambiance, superior architecture, spacious and airy rooms, convenient location, modern amenities/facilities, and much more.

About the Author: Rajeev is sales and marketing consultant at Azea Botanica, an upcoming housing project being developed by Azeagaia Development Pvt. Ltd., the top real estate developer in Lucknow, promoted by Singapore-based firms through foreign direct investment. Azea Botanica offers 3 & 4BHK luxury flats in Lucknow at a strategic location of Vrindavan Yojna, Raebareli Road, coupled with premium architecture, airy and spacious rooms, contemporary amenities, and more. To know more about Azea Botanica, please visit

azeabotanica.com

.

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By Stewart Wrighter

The more extensive technology gets, the more convenient our lives get. People are able to make calls from just about anywhere they want on mobile phones, they can find information in the time it takes to type a few words and they can find and purchase products from around the globe no matter where they live. While nobody would want to be sentenced to their homes and unable to go out when they please, it has become possible, through technology, to live a semi-fulfilling life without ever leaving your home. You can work from home, socialize from home and find plenty of entertainment options, all without leaving your living space. The savviest people combine healthy socializing and time outdoors with the conveniences of what can be done at home. Whether you are looking for a hobby, additional income or employment, or you want to become more social, start with your home computer. If you want to grow your investments or create an additional income stream, consider futures trading or commodity futures trading from home. Computer programs can help you learn the process and carry out what you learn to make an impressive profit.

If you want to earn money online, this next suggestion is probably not going to help, but it will certainly entertain you and be fun. Right from the comfort of your own home, you can shop for just about anything. The great thing about shopping on your computer is the access you have to merchandise that would otherwise not be accessible due to your geographical location. In addition to location restrictions, you can also find products online that have been discontinued or frequently sell-out. Furthermore, these products may be cheaper. You can often find sales and discounts online that are not available in stores and shopping centers.

When someone tells you it is possible to find just about everything by hopping on your home computer, it may be hyperbole. However, you really can find a lot of things online, including romantic companionship. This applies to the kind that is illegal in most areas of the country, as well as perfectly legal matches that require no exchange of money. Most people who consider themselves part of the dating marketing have participated in online dating. Many have gone on to enjoy long-term relationships and marriages with people who they initially met online. You can find your spouse online, just as easily as you can find products and work online.

The number one place people look for work nowadays is online. You have access to traditional newspaper classified ads, online job boards and company email contacts. Whether you are actively looking for work or you just want to keep tabs on jobs that are available, you can do your research online.

If you are not looking for an open position, but you are looking for work you can complete from your home, you will be able to find it online. From writing to graphic design to clerical jobs, they are available online. The best part is, you can freelance and be self-employed, giving you the freedom and flexibility most people desire.

About the Author: Stewart Wrighter recently researched

futures trading

for an article on the stock market. He learned that

commodity futures trading

can be a lucrative profession.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=749663&ca=Finances

By Stewart Wrighter

The more extensive technology gets, the more convenient our lives get. People are able to make calls from just about anywhere they want on mobile phones, they can find information in the time it takes to type a few words and they can find and purchase products from around the globe no matter where they live. While nobody would want to be sentenced to their homes and unable to go out when they please, it has become possible, through technology, to live a semi-fulfilling life without ever leaving your home. You can work from home, socialize from home and find plenty of entertainment options, all without leaving your living space. The savviest people combine healthy socializing and time outdoors with the conveniences of what can be done at home. Whether you are looking for a hobby, additional income or employment, or you want to become more social, start with your home computer. If you want to grow your investments or create an additional income stream, consider futures trading or commodity futures trading from home. Computer programs can help you learn the process and carry out what you learn to make an impressive profit.

If you want to earn money online, this next suggestion is probably not going to help, but it will certainly entertain you and be fun. Right from the comfort of your own home, you can shop for just about anything. The great thing about shopping on your computer is the access you have to merchandise that would otherwise not be accessible due to your geographical location. In addition to location restrictions, you can also find products online that have been discontinued or frequently sell-out. Furthermore, these products may be cheaper. You can often find sales and discounts online that are not available in stores and shopping centers.

When someone tells you it is possible to find just about everything by hopping on your home computer, it may be hyperbole. However, you really can find a lot of things online, including romantic companionship. This applies to the kind that is illegal in most areas of the country, as well as perfectly legal matches that require no exchange of money. Most people who consider themselves part of the dating marketing have participated in online dating. Many have gone on to enjoy long-term relationships and marriages with people who they initially met online. You can find your spouse online, just as easily as you can find products and work online.

The number one place people look for work nowadays is online. You have access to traditional newspaper classified ads, online job boards and company email contacts. Whether you are actively looking for work or you just want to keep tabs on jobs that are available, you can do your research online.

If you are not looking for an open position, but you are looking for work you can complete from your home, you will be able to find it online. From writing to graphic design to clerical jobs, they are available online. The best part is, you can freelance and be self-employed, giving you the freedom and flexibility most people desire.

About the Author: Stewart Wrighter recently researched

futures trading

for an article on the stock market. He learned that

commodity futures trading

can be a lucrative profession.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=749663&ca=Finances