Tax, Estate, and Lifetime Planning for Minors, Second Edition

(Paperback)

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Focusing exclusively on the issues that adults face when planning for minor children, this updated edition focuses on the many and often complicated issues involved in these situations, including taxation, education funding, insurance, disability, and even planning for an adults incapacity or death. Combining core legal concepts with practical wisdom, Tax, Estate, and Lifetime Planning for Minors is a unique resource for attorneys advising clients in their estate and financial planning when minor children are involved. As with the first edition, this is a ready reference not only for seasoned practitioners but for the general or novice practitioner handling their first estate plan.

Bringing together the practical advice and knowledge of experts in taxation and estate planning, the book begins with a concise overview of the federal laws and fundamental principles of estate and gift taxation. Other chapters cover the most important elements in planning for younger family members or friends, including:

• Life insurance policies, taxation, and irrevocable life insurance trusts
• Funding education costs
• Planning for daily care in the case of an adult's incapacity or death
• Special needs trusts and other considerations for disabled minors
• Transfer of retirement benefits
• Considerations for children born of assisted reproductive technologies
• Management of a minors digital assets in the event of disability or death

Because much of the necessary tax planning involves state law, relevant chapters categorize current state provisions. The book also examines the most significant non-tax considerations required when planning involves minors. Appendices include sample forms, state-by-state charts, exhibits, and more, and can be downloaded from a dedicated online website.

Author Bio

Carmina Y. DAversa, JD, LLM (Taxation), focuses her federal and Pennsylvanialaw practice on international and domestic tax planning and compliance.She formerly was with the International Estate and Gift Tax Groupof the Internal Revenue Service. Before joining the Internal Revenue Servicein Washington, DC, Ms. DAversa was an active member of the EducationCommittee of the Philadelphia Bar Associations Probate and Trust LawSection. Ms. DAversa also served as an elected term member for the Councilof the Pennsylvania Bar Associations Real Property, Probate and TrustLaw Section; a Chancellors appointee for the Executive Committee of thePhiladelphia Bar Associations Section on Probate and Trust Law; and anadjunct member of the Ethics Committee of the Hospital of the Universityof Pennsylvania. To date, Ms. DAversa has been designated as a Trust andEstate Practitioner (TEP) by the international organization, the Society ofTrust and Estate Practitioners (STEP). Ms. DAversa authors and co-authorslegal articles and publications, and lectures for continuing legal and professionaleducation programs.