Industry News and Helpful Hint eNewsletter

"Trust & Estate Industry News & Appraise Helpful Hint" eNewsletter

October 4, 2022

Trust & Estate Industry News

This week's feature article is:

"Extension of Time to Elect Portability"

Excerpt (from actual article):

"Until recently, Revenue Procedure 2017-34 permitted an executor of an estate to make a portability-only election on or before the later of Jan. 1, 2018, or 2 years after the decedent’s date of death. Effective July 8, 2022, the Department of the Treasury and the Internal Revenue Service issued Rev. Proc. 2022-32, which supersedes Rev. Proc. 2017-34 and extends the period within which the executor of an estate may make a portability election to no later than 5 years following the decedent’s date of death."

You can read the article by clicking

HERE.

Last week's feature article was:

"Ways to Speed Up the Probate Process"

You can read last week's eNewsletter by clicking HERE.

ESI-Appraise Helpful Hint

This week's topic is:

"You are amazing!! I can’t thank you enough for all of your help over the years!!"

This is an actual email we received from a customer last week when we helped them with their particular situation.

If you look at our logo, one of the promises we make to our clients is "First Class Service." Our goal is to do this everyday.

Why don't you give us a try with one of your trust & estate valuations? Please call us at 201-784-8500.

Last week's topic was:

"October is Estate & Gift Planning Awareness Month."

You can read last week's eNewsletter by clicking HERE.

October is Estate & Gift Planning Awareness Month (Article 2 of 5)

This article on "Estate & Gift Planning Awareness Month", was crafted by The Financial Awareness Foundation.

This is a great time to make sure that your financial house is in order with current financial, estate and gift plans that are up-to-date.

Over 120 million adults, 50% of our adult population don’t have, nor understand, why they need current financial, estate and gift plans to protect themselves and their assets in the event of sickness, or when they pass away. This is a real problem, as most feel they don’t have an estate to plan for; this is NOT TRUE. Financial, Estate & Gift Planning is not just for the wealthy and elderly; it’s important for everyone.

If people don’t have an estate plan their assets may not pass to their desired parties. There is no way for their significant or modest assets to get to their favorite charities or causes, as assets then pass by title, beneficiary designation, and the state laws of intestate succession which by default goes to close, then distant family. If none exists, they then revert to the state of domicile after taxes and costs.
Can you believe that Prince and Aretha Franklin would pass with no wills or estate plan??? What could Prince and Aretha Franklin estates of $400+ million do in the right hands? Music scholarships, teach entrepreneurism, help advance cures for health problems, help feed many, improve financial awareness and financial literacy, etc.

Rich, poor or somewhere in between--that’s about half the adults in your hometown: many prospects that need your assistance and are able to pay for your expertise.

Click here for an Estate and Gift Planning Article you are welcome to share with clients, friends and family

Which valuations can I get from ESI-APPRAISE?

We give you access to all the tools, information, and professional support you need to increase your profits and serve your customers better. Additionally, ESI-Appraise offers a broad range of global securities and related financial data from all major markets and exchanges.

IRS Form 706 Estate Tax
IRS Form 709 Gift Tax
Charitable Remainder Unitrust
Grantor Retained Annuity Trust
Domestic & Global Historical Pricing
Capital Changes
Cost Basis Calculator for Corporate Actions
Cost Basis Calculator for Dividend Reinvestment Plans
1040/1041 Income Allocation for Calendar or Fiscal Year

How can I get a valuation from ESI-APPRAISE?

1. Secure online solutions (You do the work to save money.):

APPRAISE Web: credit card or account #; can be run from anywhere/any platform
APPRAISE.Windows: software and data stored on your computer
APPRAISE.SaaS: our Software as a Service (SaaS) solution. SaaS means we host the software, which you access via the internet, and you store your data locally on your computer. This benefits you and your information technology group because a hybrid solution takes the best of software and cloud and combines them.

You're always running the current version and do not need to install updates.
It's easy to add and remove users
It has more reports and features than traditional desktop software
You store your data securely on your computers.

ESI-Direct: ONESOURCE Trust & Estate securities valuations without software
Universal Import: A utility which enables users to create portfolios from comma delimited or Excel files in lieu of manually entering CUSIP/Ticker and shares.

2. Outsourcing solution (We do the work and save you time.): Valuations can

be submitted/delivered via email, fax, overnight courier, or mail.

Click HERE for an order form.

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