Article

Ultimate Liability for Federal Estate Taxes

Richard R. Powell
Article

Use of Graphs and Tables in Estate Planning

Ralph R. Neuhoff
There are two kinds of transfer taxes, liability for which may be incurred in passing property from one generation to another: estate taxes and gift taxes. Although each operates in the same area, the impact of the gift taxes is very much less than that of estate taxes, a fact not fully appreciated by many people. The advantage gained by incurring gift taxes through gifts designed to obviate the imposition…
Article

The Use of Life Insurance in Estate Planning

Hiram H. Lesar
The principal role of life insurance, the type of insurance with which estate planning is primarily concerned, is to provide liquid funds to pay the costs of dying. These include, in addition to debts, administration and funeral expenses, expenses of the last illness, taxes, and the care of dependents. When one reflects that insurance is an asset which is as liquid as cash and yet is an earning asset, that…
Article

Tax Planning in Business Purchase Agreements, with Sample Clauses

Kent D. Kehr and Gene M. Zafft
The success or failure of the small- or medium-sized business is dependent primarily upon the ability of its “key-men,” who are generally the owners of the business. The death or retirement of one of these men, therefore, if not provided for, can cause havoc with the business to the detriment of the remaining shareholders or partners. This Article will consider the tax problems raised by the death of a stockholder…