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Home » Archives for Stephen Hartnett

Stephen Hartnett

Removing Life Insurance Without Triggering the Transfer for Value Rule

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Life insurance is included in the taxable estate typically. A trust is a great way to remove the value of life insurance from the taxable estate. But there are two potential traps in this. The prior article examined the first trap, the three-year lookback of Section 2035. This article will examine how the Transfer for Value rule can make life insurance taxable. Read on to learn more about how to avoid the income taxation of life insurance. Read on to learn more … [Read more...] about Removing Life Insurance Without Triggering the Transfer for Value Rule

Whom Do You Want to Get Your Assets?

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Most of us have an idea whom we’d choose to receive our assets at our death.  But often we don’t contemplate what should happen if the people whom we’ve selected die before us.  Read on to learn more about contingent beneficiaries. Whom Do You Want to Get Your Assets?   … [Read more...] about Whom Do You Want to Get Your Assets?

Uncompensated Transfers

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Medicaid is a state-federal partnership that provides medical benefit assistance to people who qualify, especially those over 65 years of age. However, in order to qualify, you also need to meet certain financial requirements such as asset limits. However, if you have made “uncompensated transfers,” that could lead to a period of disqualification from the program. Read on to learn more. Uncompensated Transfers … [Read more...] about Uncompensated Transfers