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A Model for Optimal Interspousal Transfers in Estate PlanningPulliam, Dale R. 12 1900 (has links)
The problem with which this study is concerned is that of determining the optimal transfer of property from a decedent to his surviving spouse. A secondary problem addressed is whether equity between common law states and community property states in the application of the estate tax provisions has been achieved through the allowance of the marital deduction. From this analysis decision criteria were developed to aid taxpayers and their advisors in determining optimal property transfers to a surviving spouse. Conclusions of the study were the following: (1) The primary concern when formulating an estate plan should be to determine whether any property should be transferred to the surviving spouse. The literature has stressed qualifying transfers for the marital deduction while giving minimal consideration to the wisdom of doing so. This study indicates that in a majority of estates optimal results are obtained by making no transfers to the surviving spouse. (2) Relative after-tax rates of return of the surviving spouse and other beneficiaries are the most important factors in determining optimal transfers to the spouse. This again conflicts with the literature which has emphasized relative estate sizes as the dominant factor. (3) Rates of inflation have minimal influence in determining the size of the optimal transfer. (4) Citizens of common law states are generally favored as opposed to citizens of community property states in the application of the estate tax laws. Citizens of these states have more flexibility in. planning transfers to beneficiaries and may generally do so at a lower tax cost through use of the marital deduction.
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Die reg op uitbreiding van deeltitelskemas as boedelbate / Hendrik Gerard HattinghHattingh, Hendrik Gerard January 2013 (has links)
Sectional ownership has introduced several new concepts of property that differ
significantly from prevailing as well as common-law concepts of property. The
right of extension with regards to sectional titles is one such concept. The right
entails a subtraction from the dominium of sectional owners and is widely
regarded as a limited real right. It is submitted that the right cannot be
categorised into any common-law category. The right is a statutory limited real
right sui generis that has its own characteristics with regards to the way it is
established, transferred, alienated, burdened or lapses. The right should also be
recognised as constitutional property. The study concludes with an investigation
into selected aspects relating to the right as an estate asset and points to
problems relating to the valuation of the right for purposes of estate, capital gains
and donation tax. / LLM (Estate Law), North-West University, Potchefstroom Campus, 2014
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Gerenciamento do suprimento nos empreendimentos hoteleiros. / Procurement during implantation cycle of hotels.Silva, Elisabeth Nascimento 03 October 2008 (has links)
O cenário do ciclo de implantação de hotéis apresenta características diferenciadas em relação aos demais empreendimentos de real estate. Dentre essas, se destaca a presença de diversos stakeholders capazes de influenciar de forma direta na configuração do empreendimento. Outra característica é a forte concentração dos processos de suprimento, em particular no final de sua fase de implantação, devido à necessidade de disponibilizar os insumos específicos dessa tipologia de empreendimento, necessários a sua entrada em operação. Esse cenário diferenciado traz ao sistema de gerenciamento de suprimentos do empreendimento demandas não usuais em outros tipos de empreendimentos de real estate, tais como: [1] um acurado processo de controle da baseline do empreendimento, [2] um abrangente processo de controle de escopo dos diversos fornecedores envolvidos, [3] necessidade de uma estreita coordenação da logística de implantação e operacionalização do empreendimento, em particular na área de suprimento. Nesse cenário, o objetivo da dissertação é apresentar diretrizes para os processos de gerenciamento da logística na implantação de hotéis, como parte integrante dos processos do gerenciamento do empreendimento, com foco naqueles aspectos que diferenciam os hotéis dos demais empreendimentos de real estate. O trabalho descreve os resultados dos levantamentos de campo sobre o escopo da implantação de hotéis, com a finalidade de identificar as necessidades desse ciclo. Estes dados, juntamente com uma análise dos processos de gerenciamento de suprimentos versus os requisitos de implantação já mencionados, permitiram estruturar diretrizes para ao gerenciamento dos processos logísticos diante das características da implantação de hotéis. A conclusão desse trabalho é a necessidade de recorrer a processos, que embora típicos do gerenciamento de empreendimentos, não são usuais na área de Gestão de Suprimentos, tais como: (1) processos de controle de escopo, (2) controle de configuração (de escopo e da baseline) e (3) controle de interfaces, aplicados em particular para a gestão da logística envolvida na implantação e operacionalização de hotéis. / The cycle of implantation of hotels is different among others real estate enterprises. There are many stakeholders capable to influence directly in the configuration of the hotel. Another characteristic is the strong concentration of the procurement processes, most in the end of the phase of implantation, due to necessity of the cycle of operation. This differentiated scene brings to the procurement management not usual demands in others real estate enterprises, such as: [1] a strong control of baseline, 2] an strong control process with involved suppliers, 3] necessity to see the needs of operation cycle during de implantation cycle. The objective of the research is to propose guidelines for the processes of the logistic in the implantation of hotels, as an integrant of the processes of management of the enterprise, with focus in those aspects that differentiate the hotels of others real estate enterprises. The research describes the results of the field surveys on the target of the implantation of hotels, with the purpose to identify the necessities of this cycle. These data, together with an analysis of the processes of procurement management versus the requirements of implantation, allowed structuralizing the guidelines for the logistic process. The conclusion of this research is the necessity to appeal the processes, that even so typical of the management of enterprises, are not usual in the area of procurement management, such as: (1) processes of scope control, (2) configuration control (baseline) and (3) control of interfaces, applied in particular for the logistic management of involved in the implantation and the of hotels operation.
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Demographic and financial resource differences between testate and intestate University employeesMurray, Karen Ann 02 May 1991 (has links)
The purpose of this study was to determine if there
were differences between testate or intestate university
employees relative to: 1) demographic characteristics
(age, income health, marital status, education, number of
children, housing tenure, and gender), 2) planned personal
and family retirement income sources (including: savings,
individual retirement accounts, mutual funds, stocks
and/or bonds, income from property ownership, sale of real
estate or other property, annuities, or paid-up life
insurance), 3) total number of planned personal and
family retirement income sources. The study also examined
anticipated decision making difficulty scores on certain
housing issues for testate or intestate university
employees, to determine if there was a significant
difference in university employees' mean decision making
difficulty scores on certain housing issues by testacy
status, income level, and age, or gender.
Data were collected in a 1987 Western Region mail
survey (Thinking Ahead to Retirement: Community and
Housing Choices), of land grant university employees in
nine western states. The sample consisted of 5663 land
grant university employees who were at least 40 years of
age. Statistical analyses of the data were computed using
Chi-square tests, T-tests, and General Linear Models
(GLM/ANOVA) procedures with Student Newman-Keuls (SNK)
post hoc tests.
Chi-square analysis results revealed significant
differences among testacy status on all demographic
variables. Evidenced by findings, testacy rates were
higher among university employees who were 1) older, 2)
higher income, 3) higher education level, and 4) male.
Chi-square analysis indicates an association between
testacy and being married or widowed, having children, and
owning one's home. Testacy is more common among
university employees who plan more numbers and types of
personal and family retirement income sources.
Significant differences were also found among testacy
status and all of the planned personal and family
retirement income sources. Testate employees had
significantly larger total number of planned retirement
income sources than intestate employees.
Testate respondents had a higher mean decision making
difficulty score of certain housing issues (1.89) than did
intestate respondents (1.86). Results of the decision
making question indicate university employees perceptions
of how difficult they think it will be to make future
decisions about aging and housing issues. GLM /ANOVA
results indicated that employees with income above
$25,000, aged 40 to 49 years, and male anticipated greater
decision making difficulty on certain housing issues than
respondents in other categories.
Results of this research could be of interest and use
to university policy makers, educators, entrepreneurs, and
researchers. Applying these results, these groups can
target families with high need, and assist these families
in achieving personal and family, testacy, and financial
goals. / Graduation date: 1991
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Die gevolge van kapitaalwinsbelasting by die vermindering of aflossing van 'n skuld / deur M. StrydomStrydom, Marlize January 2005 (has links)
The decision of an estate owner to employ a trust as an estate planning
instrument normally involves the disposal of all or part of his growth assets to
the trust. This is done to ensure that the value of such growth assets is
pegged down in his personal estate, whilst any growth in the assets occurs in
the trust. The objective is to minimise any estate duty that will be payable
after his death. The transfer of such assets and the concomitant negotiation
of the settlement of the purchase price are normally agreed to occur on loan
account which will be repayable on demand.
Subsequent to the disposal of the assets, it is a well established estate
planning technique for the estate owner to reduce the loan account by
annually waiving R30 000 of such loan in favour of the trust. This results in
reducing the debit loan (asset) in the hands of the estate owner and thereby
also improving his position from an estate duty point of view. The liability
(credit loan) of the trust is thereby annually reduced. Because an individual
can donate R30 000 annually free of donations tax, no additional donations
tax liability will be incurred when applying this technique.
Most estate owners that have applied the abovementioned technique, include
in their will a provision whereby they bequeath any outstanding loan from the
trust at the date of the testator's death, to the trust as a legatee.
On 1 October 2001 South Africa entered into a new tax dispensation with the
introduction of capital gains tax (CGT). Comprehensive legislation was
included in the Income Tax Act (8th schedule) to regulate this new form of
taxation. Paragraph 12(5) of the 8th schedule specifically stipulates that a
reduction or waiver of a loan/debt will attract CGT.
Therefore the above mentioned techniques of donating a portion, and
subsequently bequeathing the outstanding loan amount to a trust suddenly
became the target of SARS' close scrutiny from a CGT perspective. Hence, it
was no surprise that the first High Court decision on CGT had recently been
delivered in this regard.
The purpose of this dissertation is to investigate and scrutinise, not only the
decision in the abovementioned court case, but also the various opinions and
arguments raised on this topic. The submission is that the findings and
conclusions of such an investigation should enable those involved in estate
planning and the preparation of wills to be wary of the CGT risks attached to
the abovementioned techniques and to avoid the pitfalls. Certain
recommendations and conclusions to achieve the same estate planning
result, are proposed in this dissertation. Certain suggestions were also made
with regards to the wording of provisions to be included in a will in order to
bequeath a loan or debt to a trust without the risk of attracting unforeseen
CGT. / Thesis (LL.M. (Estate Law))--North-West University, Potchefstroom Campus, 2006.
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Die reg op uitbreiding van deeltitelskemas as boedelbate / Hendrik Gerard HattinghHattingh, Hendrik Gerard January 2013 (has links)
Sectional ownership has introduced several new concepts of property that differ
significantly from prevailing as well as common-law concepts of property. The
right of extension with regards to sectional titles is one such concept. The right
entails a subtraction from the dominium of sectional owners and is widely
regarded as a limited real right. It is submitted that the right cannot be
categorised into any common-law category. The right is a statutory limited real
right sui generis that has its own characteristics with regards to the way it is
established, transferred, alienated, burdened or lapses. The right should also be
recognised as constitutional property. The study concludes with an investigation
into selected aspects relating to the right as an estate asset and points to
problems relating to the valuation of the right for purposes of estate, capital gains
and donation tax. / LLM (Estate Law), North-West University, Potchefstroom Campus, 2014
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Die gevolge van kapitaalwinsbelasting by die vermindering of aflossing van 'n skuld / deur M. StrydomStrydom, Marlize January 2005 (has links)
The decision of an estate owner to employ a trust as an estate planning
instrument normally involves the disposal of all or part of his growth assets to
the trust. This is done to ensure that the value of such growth assets is
pegged down in his personal estate, whilst any growth in the assets occurs in
the trust. The objective is to minimise any estate duty that will be payable
after his death. The transfer of such assets and the concomitant negotiation
of the settlement of the purchase price are normally agreed to occur on loan
account which will be repayable on demand.
Subsequent to the disposal of the assets, it is a well established estate
planning technique for the estate owner to reduce the loan account by
annually waiving R30 000 of such loan in favour of the trust. This results in
reducing the debit loan (asset) in the hands of the estate owner and thereby
also improving his position from an estate duty point of view. The liability
(credit loan) of the trust is thereby annually reduced. Because an individual
can donate R30 000 annually free of donations tax, no additional donations
tax liability will be incurred when applying this technique.
Most estate owners that have applied the abovementioned technique, include
in their will a provision whereby they bequeath any outstanding loan from the
trust at the date of the testator's death, to the trust as a legatee.
On 1 October 2001 South Africa entered into a new tax dispensation with the
introduction of capital gains tax (CGT). Comprehensive legislation was
included in the Income Tax Act (8th schedule) to regulate this new form of
taxation. Paragraph 12(5) of the 8th schedule specifically stipulates that a
reduction or waiver of a loan/debt will attract CGT.
Therefore the above mentioned techniques of donating a portion, and
subsequently bequeathing the outstanding loan amount to a trust suddenly
became the target of SARS' close scrutiny from a CGT perspective. Hence, it
was no surprise that the first High Court decision on CGT had recently been
delivered in this regard.
The purpose of this dissertation is to investigate and scrutinise, not only the
decision in the abovementioned court case, but also the various opinions and
arguments raised on this topic. The submission is that the findings and
conclusions of such an investigation should enable those involved in estate
planning and the preparation of wills to be wary of the CGT risks attached to
the abovementioned techniques and to avoid the pitfalls. Certain
recommendations and conclusions to achieve the same estate planning
result, are proposed in this dissertation. Certain suggestions were also made
with regards to the wording of provisions to be included in a will in order to
bequeath a loan or debt to a trust without the risk of attracting unforeseen
CGT. / Thesis (LL.M. (Estate Law))--North-West University, Potchefstroom Campus, 2006.
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An analysis of the expectation gap in the personal financial services industry in South Africa / Jan MP VenterVenter, Jan MP January 2008 (has links)
Thesis (Ph.D. (Chartered Accountancy))--North-West University, Potchefstroom Campus, 2009.
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An analysis of the expectation gap in the personal financial services industry in South Africa / Jan MP VenterVenter, Jan MP January 2008 (has links)
Thesis (Ph.D. (Chartered Accountancy))--North-West University, Potchefstroom Campus, 2009.
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Gerenciamento do suprimento nos empreendimentos hoteleiros. / Procurement during implantation cycle of hotels.Elisabeth Nascimento Silva 03 October 2008 (has links)
O cenário do ciclo de implantação de hotéis apresenta características diferenciadas em relação aos demais empreendimentos de real estate. Dentre essas, se destaca a presença de diversos stakeholders capazes de influenciar de forma direta na configuração do empreendimento. Outra característica é a forte concentração dos processos de suprimento, em particular no final de sua fase de implantação, devido à necessidade de disponibilizar os insumos específicos dessa tipologia de empreendimento, necessários a sua entrada em operação. Esse cenário diferenciado traz ao sistema de gerenciamento de suprimentos do empreendimento demandas não usuais em outros tipos de empreendimentos de real estate, tais como: [1] um acurado processo de controle da baseline do empreendimento, [2] um abrangente processo de controle de escopo dos diversos fornecedores envolvidos, [3] necessidade de uma estreita coordenação da logística de implantação e operacionalização do empreendimento, em particular na área de suprimento. Nesse cenário, o objetivo da dissertação é apresentar diretrizes para os processos de gerenciamento da logística na implantação de hotéis, como parte integrante dos processos do gerenciamento do empreendimento, com foco naqueles aspectos que diferenciam os hotéis dos demais empreendimentos de real estate. O trabalho descreve os resultados dos levantamentos de campo sobre o escopo da implantação de hotéis, com a finalidade de identificar as necessidades desse ciclo. Estes dados, juntamente com uma análise dos processos de gerenciamento de suprimentos versus os requisitos de implantação já mencionados, permitiram estruturar diretrizes para ao gerenciamento dos processos logísticos diante das características da implantação de hotéis. A conclusão desse trabalho é a necessidade de recorrer a processos, que embora típicos do gerenciamento de empreendimentos, não são usuais na área de Gestão de Suprimentos, tais como: (1) processos de controle de escopo, (2) controle de configuração (de escopo e da baseline) e (3) controle de interfaces, aplicados em particular para a gestão da logística envolvida na implantação e operacionalização de hotéis. / The cycle of implantation of hotels is different among others real estate enterprises. There are many stakeholders capable to influence directly in the configuration of the hotel. Another characteristic is the strong concentration of the procurement processes, most in the end of the phase of implantation, due to necessity of the cycle of operation. This differentiated scene brings to the procurement management not usual demands in others real estate enterprises, such as: [1] a strong control of baseline, 2] an strong control process with involved suppliers, 3] necessity to see the needs of operation cycle during de implantation cycle. The objective of the research is to propose guidelines for the processes of the logistic in the implantation of hotels, as an integrant of the processes of management of the enterprise, with focus in those aspects that differentiate the hotels of others real estate enterprises. The research describes the results of the field surveys on the target of the implantation of hotels, with the purpose to identify the necessities of this cycle. These data, together with an analysis of the processes of procurement management versus the requirements of implantation, allowed structuralizing the guidelines for the logistic process. The conclusion of this research is the necessity to appeal the processes, that even so typical of the management of enterprises, are not usual in the area of procurement management, such as: (1) processes of scope control, (2) configuration control (baseline) and (3) control of interfaces, applied in particular for the logistic management of involved in the implantation and the of hotels operation.
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