Category: Family Protection

Tax-Advantaged Education Funding

By Zarir J. Sethna
Posted on February 15, 2019

Saving for college education can be an intimidating undertaking for many parents who may be inexperienced with tax laws, and unsure how to balance their own financial goals, such as saving for retirement and the financial needs of their children. There are many options available to finance a child’s education, and which one or more options to choose requires consideration of many important factors.

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Irrevocable Life Insurance Trust

By Zarir J. Sethna
Posted on January 8, 2019

An irrevocable life insurance trust (ILIT) can be a useful vehicle to hold life insurance policies outside the grantor’s taxable estate. When an insured owns a life insurance policy on his/her life, the insured controls and has ownership rights over the life insurance, but the policy will be included in the insured’s taxable estate. However, by giving up control and ownership over coverage held within an ILIT...

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Series LLC

By Zarir J. Sethna
Posted on November 18, 2018

A Series Limited Liability Company (Series LLC) is a form of entity that allows a single “parent” LLC to partition its assets and liabilities among various sub-LLCs called “Series.” Each Series may have different assets, operations, and/or investment objectives, and the members and managers, as well as their rights, obligations, and their sharing ratios, may be varied in each Series.

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Choosing the Right Insurance Mix

By Zarir J. Sethna
Posted on October 27, 2018

Should you purchase term insurance or is permanent insurance the better buy? If you already own a term policy, should you convert it to a permanent plan, such as whole life? Or is a flexible plan such as universal life the way to go?

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Lifetime Gifts

By Zarir J. Sethna
Posted on August 7, 2018

Many Americans make gifts to their children and other family members. Lifetime gifts may allow a donor to observe how donees will handle the money. Accordingly, the donor can help the recipient learn sound money or business management skills. Making lifetime gifts may require careful planning in light of gift and estate taxes.

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Special Needs Planning

By Zarir J. Sethna
Posted on July 21, 2018

Establish a special needs trust with supporting documents. Working with your attorney, establish a Special Needs Trust designed to hold assets for the benefit of your child. Government benefits are typically “means tested,” so any income or assets owned by your child could impact his or her qualification for benefits.

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Gifts to Minors

By Zarir J. Sethna
Posted on June 19, 2018

Helping a child with his or her education or support often requires gifts. Fortunately, there also may be income and estate tax savings to making gifts to minor children. Gifts can be made directly or indirectly to a child, or to a trust for his or her benefit.

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