Vol. 4 Iss. 6 - June 2012 - www.cannonfinancial.com
Planning Ideas - Gotta "Like" that GRAT
Facebook has been in the news lately for its long-awaited Initial Public Offering (IPO), and the estate planning strategy referred to as a zeroed-out Grantor Retained Annuity Trust.
Taxes - Is Changing Citizenship Really Worth It?
One of Facebook’s founders, Eduardo Saverin renounced his U.S. citizenship last September, presumably in an effort to save U.S. income taxes. Was it worth it?
Planning Ideas - Proposed Regulations Give Longevity Annuities a Boost
It’s no secret Americans are living longer, making it more likely they will outlive their retirement savings. Adding to this risk is a decline in employer pension plans.
Taxes - Final Regulations Affect Ordering Rules for CLT Distributions
The Treasury Department recently issued final regulations under IRC Sections 642 and 643 confirming that a trust, will, or provision of local law-