At Price & Farrington, PLLC we believe in educating ourselves and the clients and advisors we strive to help. We foster long-term relationships with trusted advisors and work hard to support and strengthen their relationships with their clients.

Volume 3, Issue 6 - Practical Applications of Non-Qualified Deferred Compensation

This issue of The Wealth Counselor examines a topic that is critical to business owners and key employees - non-qualified deferred compensation (NQDC). NQDC is often a significant component of these individuals' compensation and employers often use NQDC to try to ensure the retention of key employees. Given the flexibility of NQDC plan design and funding, it is important that all wealth planning professionals have an understanding of NQDC and its application.

Volume 3, Issue 5 - Tax Planning

This issue of The Wealth Counselor examines basic income tax rules as well as the useful strategies to defer income tax by making installment sales to grantor and non-grantor trusts. It is critical that all wealth planning professionals have a basic understanding of these rules and the ability to recognize the opportunities offered by these strategies.

Volume 3, Issue 4 - Planning for Long-Term Care

Studies predict that approximately 40% (2 out of every 5) of Americans reaching age 65 will need some type of long-term care (LTC). Some of your clients would prefer to stay at home, no matter what the cost. However, without proper planning, the lack of available services and the staggering price tag for fulltime home health care may leave them without that option.

Volume 3, Issue 3 - Planning for Unmarried Couples

The 2000 census counted nearly 5.5 million U.S. unmarried couples sharing the same household, almost 8 times the number counted in 1970 and nearly 10% of the 60 million U.S. couple households counted. Of these, many are widows and widowers who choose not to marry for various reasons, and approximately 1% of these unmarried couples are same-gender partners.

Volume 3, Issue 2 - Planning for the New "Zero Percent" Tax Bracket

This issue of The Wealth Counselor addresses a law change that is important to all wealth planning professionals and their clients. Beginning January 1, 2008 and continuing through at least 2010, a zero tax rate may apply to long-term capital gain and dividend income that would otherwise be taxed at the regular 15% and/or 10% rates. The new zero tax rate is available to the extent that the taxpayer's other taxable income minus exemptions and deductions is less than a specified amount.

Volume 3, Issue 1 - Exciting New Developments in Buy-Sell Planning

This issue of The Wealth Counselor examines exciting new developments in business succession planning - specifically, the use of LLCs or partnerships to own life insurance for buy-sell planning purposes. Such a structure obtains the advantages of cross-purchase and stock redemption buy-sell agreements without many of the disadvantages of either traditional structure. This development is significant to all wealth planning professionals and their businessowner clients.

Volume 2, Issue 12 - Opportunities for Planning with Pets

For many clients, pets are members of the family. These clients often say that if something happens to them, they are more concerned with what will happen to their pets than to their children or spouse. This issue of The Wealth Counselor examines the issues surrounding caring for pets after the disability or death of the pet's owner.

Volume 2, Issue 11 - New Planning Opportunities with Non-Spouse Rollovers

Before 2007, a non-spouse beneficiary of a qualified plan was stuck taking distributions under the terms of the plan, which typically required full distribution within five or fewer years of the participant's death. The Pension Protection Act of 2006 (PPA 2006) authorized non-spouse beneficiaries (before it was only surviving spouses) to roll over to an Inherited IRA.

This issue of The Wealth Counselor looks at a very recent pronouncement from the IRS that finally makes this PPA 2006 provision useable and, therefore, is very beneficial to clients and all wealth planning professionals who understand its implications.

Volume 2, Issue 10 - Simplifying the Taxation of Trusts

The last issue of The Wealth Counselor examined trusts and the asset protection benefits provided to trust makers and their beneficiaries through the utilization of ongoing trusts. This issue of The Wealth Counselor addresses related and important questions about the taxation of trusts, which are important to all wealth planning professionals.

Volume 2, Issue 9 - Understanding the Significance of Trusts

This issue of The Wealth Counselor addresses a topic that is important to clients and all wealth planning professionals - trusts. When used properly, trusts can provide significant advantages to clients and to the advisors who recommend them. Given the numerous types of trusts, this newsletter explores the general advantages of trusts as well as some of the most common types of trusts.

Volume 2, Issue 8 - Understanding the Opportunities with Aid & Attendance Benefits

A prior issue of The Wealth Counselor addressed the planning opportunities that exist with planning for Medicaid (Medi-Cal in California), particularly where the client's advisors work together to create a plan that addresses all aspects of the client's planning needs. This issue addresses a related topic, VA Aid and Attendance pension benefits.

Volume 2, Issue 7 - Life Settlements: Understanding the Opportunity for Your Clients

This month's issue of The Wealth Counselor addresses a topic that many professionals do not understand fully - life settlements. For the right clients, a life settlement offers a significant advantage over the alternatives - and one that the client and the planning team should at least consider.

Volume 2, Issue 6 - Understanding Medicaid Planning Opportunities For Your Clients and You

The last issue of The Wealth Counselor addressed the significant need for clients to plan for the possibility of disability, and how proper disability planning more often than not involves the coordination of financial and legal solutions. This issue addresses a related and often misunderstood topic, Medicaid planning.

Volume 2, Issue 5 - Planning for Disability

No one likes to think about the possibility of their own disability or the disability of a loved one. However, as we'll see, the statistics are clear that we should all plan for at least a temporary disability. This issue of The Wealth Counselor examines the eye-opening statistics surrounding disability and some of the common disability planning options. Disability planning is one area where we can give each and every one of our clients great comfort in knowing that, if the day comes for themselves or a loved one, they will be prepared.

Volume 2, Issue 4 - Planning for Tax-Qualified Plans

Planning for tax-qualified plans, which includes IRAs, 401(k)s and qualified retirement plans, requires a careful examination of the potential taxes that impact these assets. Unlike most other assets that receive a "basis step-up" to current fair market value upon the owner's death, IRAs, 401(k)s and other qualified retirement plans do not step-up to the date-of-death value.

Volume 2, Issue 3 - Policy Reviews of Trust-Owned Life Insurance (TOLI) - Why you should make it part of your standard estate planning process

This issue of The Wealth Counselor explores many of the common misperceptions about trust owned life insurance - plus a process for you to add significant value for your clients by incorporating policy reviews of trust owned life insurance.

Volume 2, Issue 2 - 10 Tips for Helping Families with Special Needs

This month's issue of The Wealth Counselor examines the unique planning requirements of families with children, grandchildren or other family members (such as parents) with special needs. There are many misconceptions in this area that result in costly mistakes in planning for special needs beneficiaries. It is, therefore, incumbent upon us - our clients' advisors - to ensure that clients understand all of their options.

Volume 2, Issue 1 - The Continuing Need for Life Insurance

Last month's issue of The Wealth Counselor examined the various educational savings vehicles available to clients, including 529 plans, UGMA/UTMAs, Coverdell Education IRAs and life insurance. Using life insurance as an education savings vehicle prompted several questions about other uses for life insurance. Therefore, this issue of the Wealth Counselor examines some of these other common uses.

Volume 1, Issue 3 - Understanding Educational Savings Vehicles

Last month's issue of The Wealth Counselor examined the many benefits of 529 Plans, including the income tax and gift and estate tax benefits of these popular educational savings vehicles. There are, however, several other educational savings vehicles that clients should consider; this issue examines some of these other vehicles and the advantages and disadvantages of each.

Volume 1, Issue 2 - 529 Plan Benefits Made Permanent by the Pension Protection Act

Whether your client is a parent with future educational obligations for young ones, or perhaps a loving aunt, uncle, grandparent, or stepparent, now more than ever 529 plans are an attractive tool for the escalating costs of education, as well as for income and estate planning purposes.

Volume 1, Issue 1 - The Pension Protection Act: New Opportunities for Retirement Planning

The new Pension Protection Act of 2006 (signed into law on August 17, 2006) creates significant planning opportunities for advisors and their clients who understand it. This newsletter focuses on two key provisions: (1) non-spousal rollovers from a qualified plan to an inherited IRA and (2) charitable contributions of IRAs during their lifetime.

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Price & Farrington, PLLC - Attorneys and Counselors at Law
12501 Bellevue-Redmond Road, Suite 215 ....Bellevue, Washington 98005
Phone: 425.451.3583.. Fax: 425.452.0153 ..E-mail: contact@pricefarrington.com

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