Estate Planning

Higher Taxes Don’t Scare Millionaires Into Fleeing Their Homes After All – Bloomberg

Estate Planning, Recent News, Tax

If you raise rates on the rich, will you lose them to other states?  A study of 45 million IRS records suggests it doesn’t work that way. The researchers analyzed 45 million tax records, covering every filer who reported income of at least $1 million in any year from 1999 to 2011, and found that the rich are in … Continue reading Higher Taxes Don’t Scare Millionaires Into Fleeing Their Homes After All – Bloomberg

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Upcoming presentation: Drafting IRA Trusts (June 20)

Estate Planning, Self Directed IRA, Tax, ,

Just a quick “FYI” that I will be one of several speakers at an upcoming National Business Institute (NBI) seminar entitled “Drafting IRA Trusts“.  The seminar will be conducted at the Washington State Convention Center on Monday, June 20, 2016, from 9:00am-4:30pm PST.  An outline of my portion of the seminar is below: Using Self-Directed … Continue reading Upcoming presentation: Drafting IRA Trusts (June 20)

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Survey Reveals Majority of Americans do not Have a Will

Estate Planning, Recent News

A recent survey commissioned by Rocket Lawyer revealed that 70% of Americans aged 45-54, and 54% of Americans aged 55-64, do not have a Will.   The recent death of Prince and news that he died without a will  has brought a lot of attention to this issue and the added complexity, costs, and inherent conflicts … Continue reading Survey Reveals Majority of Americans do not Have a Will

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Death & Taxes Newsletter (Dec. 2015) – Self-directed IRA and Estate Planning Updates

Estate Planning, Recent News, Self Directed IRA, Tax, , , , , ,

Happy New Year!  In case you missed it (or are not on my subscriber list), please read my latest newsletter, Death & Taxes (December 2015).  This edition includes information regarding: (1) A second/pending US Government Accountable Office (GAO) report on “self-directed” retirement accounts (e.g., IRAs, 401(k), “ROBS”) that invest into “nontraditional” assets – e.g., real … Continue reading Death & Taxes Newsletter (Dec. 2015) – Self-directed IRA and Estate Planning Updates

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2016 Estate Tax Update

Estate Planning, Recent News, Tax, ,

Federal Estate Tax, Gift Tax, and Generation-Skipping Tax (GST) Exemptions For 2016, the federal estate and gift tax exemption is $5,450,000 million per individual.  This is an increase over the 2015 exemption, which was $5,430,000 per person.  This means an individual can shield up to $5.45 million from federal estate and gift tax and a married … Continue reading 2016 Estate Tax Update

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ROTH IRA + IRA TRUST: Tax free growth/income and asset protection for your heirs

Estate Planning, Recent News, , ,

Most clients like the idea of tax-free growth, tax-free income, asset protection, and maintaining some level of control over assets after they are passed to future generations.  Maximizing Roth IRA growth during a client’s lifetime and leaving the Roth IRA to an “IRA Trust” (aka, “Legacy Trust,” “Retirement Account Trust,” etc.) at the client’s death … Continue reading ROTH IRA + IRA TRUST: Tax free growth/income and asset protection for your heirs

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PRESENTATION SUMMARY: “Self-Directed IRAs and other Interesting Retirement Plan Developments”

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[The following blog post is a written summary of my presentation at the 59th Annual Estate Planning Conference in Seattle, WA on October 31, 2014.  It was truly an honor to be asked to speak at such an important event to northwest attorneys, CPAs, and financial professionals]. The overall purpose of my presentation was to … Continue reading PRESENTATION SUMMARY: “Self-Directed IRAs and other Interesting Retirement Plan Developments”

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“Self-Directed IRAs – Top Five Complexities for Estate Planning Attorneys”

Estate Planning, Recent News, Self Directed IRA, , , , ,

I am pleased to announce the publication of my latest article in the WSBA Real Property Probate and Trust Section newsletter. The full article can be found here: Self-directed IRAs – Top Five Complexities for Estate Planning Attorneys – by Warren L Baker – WSBA RPP&T Sec – April 2014. Although the article was directed toward … Continue reading “Self-Directed IRAs – Top Five Complexities for Estate Planning Attorneys”

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