Current, relevant estate, retirement and tax planning strategieswith expert insight and advice JK Lasser's New Rules for Estate, Retirement and TaxPlanning is the authoritative guide to estate, retirement andtax planning, fully updated to reflect new changes and legalupdates. Written by some of the most recognized experts in thefield, this book offers useful planning advice for people ofvarious ages and income levels, including information on retirementplanning, trusts, charitable contributions, gifts, life insurance,and wills. In this guide, you'll find up-to-the-minute facts,valuable insight, and solid strategies to help you preserve yourwealth and plan your estate under current tax rules. The helpfulcompanion website provides spreadsheets, tools, and additionalreading to help you get organized, while the book's expert guidanceprovides the background information you need to prepareproperly. Estate planning is a complex topic, made even more complex byconstantly changing laws. Failing to plan properly can result inyour loved ones losing out on much of your hard-earned assets, andresearching the topic on your own can be a minefield ofassumptions, misunderstandings, and potential legal consequences.New Rules for Estate, Retirement and Tax Planning helps yousidestep the confusion, distilling the information down to what'srelevant and current. This practical resource covers a wealth ofimportant issues, including: * Estate planning, taxation, and investing for maximumgrowth * The role of wills, executors, and trusts, and how to treatcharitable contributions * Life insurance, retirement planning, Social Security claimingstrategies and the do's and don'ts of gifting * Business planning, including succession, asset protection, andfamily limited partnerships You've worked hard your entire life. You managed to accumulateassets. New Rules for Estate, Retirement and Tax Planningwill help you maximize the transfer of your assets to the peopleand charities you love rather than the federal government in theform of taxes.

STEWART H. WELCH III, AEP, CFP^®, is a nationally recognized financial advisor who has served as Chair of the Disciplinary and Ethics Commission and as a member of the Board of Directors of the Certified Financial Planner Board of Standards, Inc.

HAROLD I. APOLINSKY, ESQ., EPLS, is a board-certified estate-planning attorney with the law firm Sirote & Permutt, PC in Birmingham, Alabama. He previously taught estate planning at the Cumberland School of Law and the University of Alabama Law School.

J. WINSTON BUSBY, ESQ, LLM, is an attorney at Sirote & Permutt, PC, focusing on tax and estate planning, income taxation of trusts and estates, succession planning, charitable giving techniques, and tax-exempt entities.

J.K. LasserPractical Guides for All Your Financial Needs Please visit our Web site at www.jklasser.com

Your hard-earned assets could disappear without proper planning

You've worked hard your entire life and you've managed to accumulate assets. Don't let them go to taxes instead of the people and charities you love. This book helps you sidestep the minefield of confusion, assumptions, and misunderstanding to plan your financial future the way you want it, regardless of age or income level. You'll find up-to-the-minute facts, valuable insight, and solid strategies to help you preserve your wealth and plan your estate under current tax rules with information on retirement planning, trusts, charitable contributions, gifts, life insurance, and wills.

• Understand estate planning and learn solid strategies for growing your wealth
• Discover just how much money you'll need for retirement
• Learn how new legislation will impact inheritances and trusts
• Study the do's and don'ts of gifting assets to family
• Explore asset protection and succession planning strategies
• Stay informed of relevant law changes with our author-managed web site

This authoritative guide helps you lock down your assets and provide for those you love, with clear guidance and expert advice.

JK Lasser's New Rules for Estate, Retirement and Tax Planning is the authoritative guide to estate, retirement and tax planning, fully updated to reflect new changes and legal updates. Written by some of the most recognized experts in the field, this book offers useful planning advice for people of various ages and income levels, including information on retirement planning, trusts, charitable contributions, gifts, life insurance, and wills. In this guide, you'll find up-to-the-minute facts, valuable insight, and solid strategies to help you preserve your wealth and plan your estate under current tax rules. The helpful companion website provides spreadsheets, tools, and additional reading to help you get organized, while the book's expert guidance provides the background information you need to prepare properly.

Estate planning is a complex topic, made even more complex by constantly changing laws. Failing to plan properly can result in your loved ones losing out on much of your hard-earned assets, and researching the topic on your own can be a minefield of assumptions, misunderstandings, and potential legal consequences. New Rules for Estate, Retirement and Tax Planning helps you sidestep the confusion, distilling the information down to what's relevant and current. This practical resource covers a wealth of important issues, including:

• Estate planning, taxation, and investing for maximum growth
• The role of wills, executors, and trusts, and how to treat charitable contributions
• Life insurance, retirement planning, Social Security claiming strategies and the do's and don'ts of gifting
• Business planning, including succession, asset protection, and family limited partnerships

You've worked hard your entire life. You managed to accumulate assets. New Rules for Estate, Retirement and Tax Planning will help you maximize the transfer of your assets to the people and charities you love rather than the federal government in the form of taxes.

Acknowledgments xi

Introduction xv

1. American Taxpayer Relief Act of 2012 1

Marginal Ordinary Income Tax Rates 2

Capital Gains Tax Rates and Qualified Dividends 2

Educational Provisions 2

Business and Corporate Tax Relief 5

Estate, Gift, and Generation-Skipping Transfers 5

The 3.8 Percent Tax on Net Investment Income 10

2. Estate Planning 13

What Is Estate Planning? 13

The Benefits of Estate Planning 14

The Nightmares of Poor Planning 16

The Myths of Estate Planning 17

Guidelines for Successful Estate Planning 18

3. The Estate Tax System 21

Determining Your Estate Net Worth 21

Understanding the Estate Tax System 21

Your Estate Tax Picture 26

Your Future Estate 30

Overview of Estate-Planning Strategies 30

4. Investment Strategies for Maximizing Estate Growth 33

Growth Strategy with a Safety Net® 34

Prioritizing Your Investment Dollars 38

Retirement Planning: Choosing the Best Investment Environments 39

Some Final Thoughts on Investing 48

5. Retirement Planning: Living Your Dream 49

Your Retirement Requirements 49

Best Retirement Strategies 58

Reverse Mortgages 65

Social Security Strategies 68

Customizing Your Health Care Plan 73

6. You Don't Have a Will? Big Trouble! 77

Property Transfers at …