Estate planning is essential, regardless of what Congress does
By STEVE RANDBY

Since Congress passed the Economic Growth and Tax Relief Reconciliation Act of 2001, the federal estate tax has been highly confusing to most people. While that law provided tax relief, it also increased uncertainty over how estates will be taxed in the future.

Protecting your assets from creditors
By MICHAEL MARKHOFF

The protection of personal assets as a result of a lawsuit is a paramount concern for individuals and a major focus of estate planning. Professionals such as physicians, accountants, attorneys, engineers and architects, as well as other individuals who have a significant exposure to creditors – real estate developers and business owners – should consider revisiting their estate plans to review various techniques that can help ensure their personal assets are protected from unforeseen situations.

Annuities, advantages and caveats
By NORMAN G. GRILL Jr.

Annuities can be a great estate planning tool but they are not without drawbacks. A recent article in The Wall Street Journal pointed out that many people cash in annuities without understanding the consequences and are surprised by stiff tax liabilities and surrender charges.

ILIT a valuable planning technique
By TRACY CHRISTEN REIMANN

As the 2008 elections loom closer, the question of where the political hot potato known as the “federal estate and gift tax” will land is sure to attract its share of rhetoric. There are many opinions about where it should land, but only speculation about where it will land. We must all “hope for the best but plan for the worst.”