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DEAL FOR A WEEK & New Form(s)

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Electing Small Business Trust (13 Pages)

Regular Price: $ 59.00

Special Price: $ 49.00

This Trust is an Electing Small Business Trust, i.e. a Trust created to follow the rules and requirements that allow this Trust to be treated as a valid S corporation shareholder. The Electing Small Business Trust is often used in estate and/or income tax planning where S corporation owners wish to transfer some of the S corporation shares, but do not wish their children to gain any control over the corporation (hence no outright transfer) or be obliged to receive annual distributions of income (as would be the requirement if a Qualified Subchapter S Trust were created). The “ESBT” allows more control of the stock and its income by the Trustee. The Trust may also hold property other than the shares of an S corporation. 
Intentionally Defective Grantor Trust Forms: Intentionally Defective Grantor Trust (7 Pages), Installment Sale To Trust (3 Pages), Promissory Note For Sale To Defective Grantor Trust (2 Pages)

Regular Price: $ 99.00

Special Price: $ 79.00

An important note from the author, Steve Siegel: "Tax and estate planning are alive and well after the 2017 Tax Cuts and Jobs Act. Don’t be lulled into inaction by the new enhanced exclusion – the 2017 law sunsets after eight years, and with political risk, change could come sooner. We have an excellent window of opportunity to utilize all of the planning techniques that remain viable.

One of the most outstanding is the intentionally defective grantor trust (“IDGT”). The IDGT gives the taxpayer the opportunity to create a trust for loved ones and freeze the value of appreciating assets (business, real estate, etc.) by a non-taxable sale to the IDGT, “squeeze” that value with appropriate valuation discounts, and burn off personal assets as the trust grantor responsible to pay all the income tax on income being received by family members. Another key feature of the IDGT is the opportunity to control the basis of the trust property. By using the power of substitution, the trust grantor can replace the initial property basis with higher basis property, then hold the reacquired low basis asset until death, allowing a stepped-up basis to heirs – never having had to pay income tax on substantial appreciation."

Intentionally Defective Grantor Trust
This a form of an Intentionally Defective Grantor Trust. The grantor retains an administrative power over the Trust (here, the power of substitution) (See Article 11) that leaves the grantor taxable on the trust income. This administrative power is not; however, a sufficient retained interest to require the trust property to be included in the grantor’s estate. The intent here is to enable the grantor to pay all of the income tax liability arising from the trust while allowing the actual trust income to be accumulated for or paid to the trust beneficiaries without income or gift tax consequences to them. (See Rev. Rul. 2004-64).

Installment Sale To Trust
This is a Form of installment sale agreement between the grantor of an intentionally defective grantor trust (Form A) as the seller, and the defective trust as the purchaser. The concept of this transaction is to enable the grantor to sell an appreciating asset to the trust in exchange for a Promissory Note (Form C), which sale will have the effect of freezing the value of the property being sold at its current fair market value, represented by the principal amount of the Note.

Promissory Note For Sale To Defective Grantor Trust

This is a form of Promissory Note that may be used in conjunction with an installment sale (Form B) to an intentionally defective grantor trust (Form A). The interest rate selected should be the appropriate rate based on the duration of the Note published by the IRS for the month of the sale.

Inter Vivos QTIP Trust (10 Pages)

Regular Price: $ 59.00

Special Price: $ 49.00

This is an irrevocable trust created by one spouse while alive for the lifetime benefit of the other spouse. It may be referred to as an Inter Vivos QTIP Trust. The trust is designed to obtain the benefit of the gift tax marital deduction upon its creation. The trust meets the statutory QTIP requirement of providing income for the life of the beneficiary spouse payable at least annually. The trust also gives the trustee discretion to pay the beneficiary spouse principal for health, support and maintenance.
Minor's Trust With Crummey Powers (15 Pages)

Regular Price: $ 59.00

Special Price: $ 49.00

This is an irrevocable trust created by a grantor for the benefit of a minor beneficiary. It is suitable to be used for the benefit of a child or a grandchild. Notably, this trust contains a Crummey right of withdrawal which is designed to give the beneficiary a present interest in the trust which, in turn, allows the grantor to claim the present interest gift tax exclusion for gifts made to the trust. Unlike a Code Section 2503(c) trust, this Trust does not require that the trust property be distributed to the beneficiary at age 21. The presence of the Crummey power makes a required distribution at age 21 unnecessary.
Special Retirement Plan Disposition Clause For Separate Shares - For Inclusion In A Will Or Trust: Separate Handling Of Retirement Plan Distributions In Separate Shares For Beneficiaries In Sub-Trusts Which May Be "Stretched-Out" (3 Pages)

Regular Price: $ 59.00

Special Price: $ 49.00

This Provision may be inserted in a Trust or Will to provide for the separate handling of the distribution of retirement plan benefits. It may be used in conjunction with beneficiary designation provisions seeking to create separate shares for beneficiaries in sub-trusts that may be “stretched-out” in compliance with inherited IRA rules.

The New California Rules Of Professional Conduct (30-Page Book)
$ 30.00

Released December 21, 2018 - Written by Eric R. Deitz, Esquire
Click the above "Learn More" button to read the Table of Contents, several Sample Pages and Mr. Deitz's curriculum vitae.

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