10 Most Frequently Asked Questions and Answers for Stretch IRAs

- By : P. Patel

What is a stretch IRA? Stretching an IRA is simply the ability to have an IRA live longer than the account owner. A stretch IRA is an IRA that uses beneficiary designations to enable assets to continue to grow tax

Estate Planning for Families with Special Needs Children

- By : P. Patel

Families with special needs children must exercise extra care in making their estate plans. This is true whether their special needs child is still a minor or now an adult, and particularly so when the child is – or in

Selection of the Trustee of a Special Needs Trust

- By : P. Patel

There are obviously many important considerations to ponder when designing an estate plan for a beneficiary who has special needs. But the most important issue in the planning process is picking the person or persons who will be in charge

Asset Protection – Don’t Do It Yourself

- By : P. Patel

Jonathan Alper in the Florida Asset Protection Blog has a great post on how standard off the shelf LLC and estate planning forms by non-experts will generally not protect your assets from lawsuits. A well-conceived asset protection plan can fail

Watch Out: The NJ Inheritance Tax

- By : P. Patel

New Jersey imposes a transfer Inheritance Tax, at graduated rates, on property having a total value of $500 or more which passes from a decedent to a beneficiary. If a decedent’s death occurs on or after January 1, 1985, property

Asset Protection Mistakes – 13 Tips

- By : P. Patel

These days, just about everyone should take care to protect their assets from possible lawsuits or other problems. Here are 13 things to watch out for: 1. Don’t keep money in a joint account, even with a spouse. 2. Don’t

How to S T R E T C H Your IRA

- By : P. Patel

The stretch IRA concept is a wealth-transfer strategy that can help you extend the period of tax-deferred earnings on your retirement assets. After the owner of the IRA dies, the beneficiaries will also have the longest allowable period of tax-deferral

American Bar Association Publishes Article Entitled “Tax Law” in the October/November 2006 issue of American Bar Association’s GPSOLO magazine

- By : P. Patel

American Bar Association Publishes Local Tax Attorney’s ArticleTax attorney Parag P. Patel, Esq. published an article entitled “Tax Law” in the October/November 2006 issue of American Bar Association’s GPSOLO magazine. The GPSOLO magazine is nationally published and widely circulated by

Evaluating the Special Needs Estate Planning Attorney

- By : P. Patel

Consider the attorney’s:Education, Certifications and Memberships e.g. Special Needs Alliance (SNA); National Academy of Elder Law Attorneys (NAELA); American College of Trust & Estate Counsel (ACTEC); American Bar Association (ABA); and State Bar AssociationsTime/experience in trust, estate, and disability practiceCommunity

Stretching Your IRA to the Next Generation

- By : P. Patel

It’s no secret that retirement accounts come in all shapes and sizes … from the account that is strictly set aside to generate retirement income to an account earmarked for heirs. For those intending to bequeath their individual retirement account