Embed Size (px)
Citation preview
Firm NewS:Firm NewS:Firm NewS:Firm NewS: We’re proud to announce that Keith has just finished a book: An Introduction to Estate Planning: How to Protect and Pass on Your Legacy. Here is a link to a video where Keith talks about the book: https://youtu.be/0wPP6nZxtnA. Let us know if you’d like to get a free copy for yourself or a friend who should be doing their own planning!
Tanya and Jim bought a “new to them” toy hauler and two new 4-wheelers and have been breaking them in the right way this spring and early summer. They are looking forward to all the Summer fun!
As for Jeanne’s family, the racing season is upon the Myers’ household. Jeramy
and Ian just returned from Yakima, WA for their first regional race. Ian took 2nd
place in one of his cars. This was a good kick-start for his season. Their daughter
Halley graduated in June from CM Russell High School.
Chris will soon be a grandmother AGAIN! Her son and daughter-in-law recently
announced the exciting news.
Heather and Jeff just bought their first home. Heather managed to keep her hus-
band from going “over budget” on that endeavor!
Teresa and Tom just got back from another visit to Denver to see the grandkids.
Jon and Rhonda are busy with a house remodel and keeping that under budget.
Their son, Ryan, is taking summer classes at college. Their daughter, Meghan, is
busy with the wedding plans.
Estate Planning Considerations for IRAs Your IRA’s deserve special attention in your estate planning. Retirement accounts such as IRAs that offer the ben-
efit of tax-deferred growth are subject to strict federal regulations.
Married individuals will likely wish to designate their spouse as the primary beneficiary. A surviving spouse has the
unique ability to roll-over an IRA received from the deceased spouse into their own IRA. This option is not available to any
other recipient who receives what is termed an “inherited IRA.”
So what happens if you’re single or you and your spouse are killed in the same accident? This is where contingent
beneficiary designations are used. We always recommend that you designate both a primary and contingent beneficiary for
all assets. In many situations it may be wise to name a trust as the contingent beneficiary of your IRAs. But, watch out!
Some trusts should not be named as beneficiaries, since they will trigger a requirement that the IRA be paid out sooner than
may be desirable. The goal is generally to stretch out distributions for the maximum amount of time to maximize tax-
deferred growth.
There are two types of trusts that you should consider for receiving IRA funds.. The first option is called a conduit
trust. It is less complex, but it does not provide your trustee with discretion for distributions. A conduit trust mandates that
the Required Minimum Distribution (RMD) come out each year and is distributed to the trust’s beneficiaries. The RMD is
calculated based on the life expectancy of the oldest designated beneficiary.
A better option may be to use what is called an accumulation trust. This is a standalone trust that provides maxi-
mum discretion to your trustee in making distributions and allows for undistributed proceeds to be accumulated inside the
trust. This type of trust is especially useful to prevent loss of value due to young heirs or heirs that lack money management
skills, provide benefits to heirs with special needs, and to prevent the loss of assets to creditors of your heirs. An accumula-
tion trust is more complicated to set-up but does allow you to ensure your loved ones maintain and receive maximum benefit
from your assets after your death.
Ingredi-
ents
1. Preheat oven to 350°. Line bo�oms of 3 (8”) cake pans with parchment rounds and spray with nons#ck cooking spray.
2. In a medium bowl si( together cocoa powder, flour, espresso powder, salt, baking powder and baking soda. Set aside.
3. Combine eggs and vegetable oil, then slowly add in sugar, milk and vanilla extract.
4. Add in dry ingredients, then add wine and s#r to combine.
5. Divide ba�er evenly into prepared pans.
6. Bake cakes for 25-30 minutes un#l a toothpick inserted in the center comes out clean and cakes start to pull away from the sides.
Vanilla Bean Mascarpone Fros�ng
1. In the Bowl of an electric Mixer whip heavy cream, mascarpone and vanilla bean paste un#l so( peaks start to form
2. Add powdered sugar and con#nue mixing un#l s#ff. Make sure fros#ng is s#ff before fros#ng the cake.
Red Wine Reduc#on
1. Bring wine and sugar up to a boil and then lower heat to medium-low and let simmer down to about 1/4 cup liquid. It takes about 15
-20 minutes to reduce and get thick and syrupy. Make sure you keep a close eye on it!
2. Remove from heat and allow to cool to room temperature before drizzling over the cake.
3. Top with about 1 cup of the mascarpone fros#ng and spread evenly.
4. Repeat with remaining cake layers.
5. Frost cake with remaining bu�ercream and refrigerate at least 30 minutes so the fros#ng has adequate #me to chill and set up be-
fore #pping with the reduc#on.
6. Refrigerate cake.
7. Pour or spoon red wine reduc#on on top of cake and allow it to drip down the sides and ENJOY!
Teresa’s Version of
Red Wine Chocolate Naked Cake
Vanilla Bean Mascarpone Fros�ng
16 oz Mascarpone 1 tsp vanilla bean paste
16 oz heavy cream 1 cup powdered sugar
Red Wine Reduc�on
1 cup sweet red wine 4 tbsp. granulated sugar
3/4 cup cocoa power
1 3/4 cup all-purpose flour
1 1/2 tsp baking powder
1 1/2 tsp baking soda
1 tsp salt
2 eggs
1 3/4 cups granulated sugar
1 tsp vanilla extract
1 cup whole milk
1/2 cup vegetable oil
1 tsp vanilla extract
1 cup red wine ( I used Cabernet)
Instruc�ons
Ingredients
You’re invited to join us for dinner and a ball game at
Voyager Field in Great Falls.
Come on out and watch the Voyagers score some runs!
Scott, Tokerud & McCarty’s Client
Appreciation Night
Pig Roast Barbeque and Ball Game
Saturday, July 15th, at Voyager Field in Great Falls
5:00 p.m. until the end of the game (or when you wish to leave)
Space is limited, so R.S.V.P. early to Tanya at
[email protected] or Call (406) 727-2200
Sco�, Tokerud & McCarty, P.C.
P.O. Box 1484
Great Falls, Montana 59403
Scott, Tokerud & McCarty, P.C.
July 2017
Issue #2
Estate Planning Puzzle MEMORANDUM REPRESENTATIVE
ADMINISTRATION ESTATE OUTRIGHT RESIDUARY
BENEFICIARIES EXECUTOR PARENTS SPECIAL NEEDS
BYPASS FAMILY PERSONAL SURVIVOR
CHILDREN FINANCIAL PERSONAL REPRESENTATIVE SURVIVORS
CODICIL GRANDPARENTS PLANNING TANGIBLE
CONSERVATORSHIP GUARDIANSHIP POWER OF ATTORNEY TESTAMENT
COTRUSTEE HEALTHCARE PREDECEASED TRUST
DECEASED HIPAA RELEASE PRINCIPAL TRUSTEE
DESCENDANTS HUSBAND PROBATE WIFE
DESIGNATED INCAPACITATED PROTECTION WILL
DISPOSITION INDIVIDUAL PROVIDED WITNESSES
DISTRIBUTION LIVING WILL PROVISIONS
S J B Q U P O A D M I N I S T R A T I O N M L T X K M R G A J B
R X T A N G I B L E R J J R D C A G Z K J X Y R A U D I S E R I
O I B D K O N S J X L L A N O S R E P P L E E T S U R T O C Y L
V D R F R O V I V R U S K N H O T D I V M R R R L U B J E Y G Z
I N E T G S L S M C B X X X C A V H D E D I V O R P W N G R D M
V S H T W E A I S F P O S C B J S H S E I R A I C I F E N E B E
R E F X A X J J V R U I C O E R R X I G V K N C X L L I W C X M
U C W G X T C P J I N B R B O D E S I G N A T E D I K W A F O O
S P R I N C I P A L N P I T Q P Y O P W S L Z T M V V D J M T R
T G B V X W U C G L J G A A N N E S A E L E R A A P I H C A R A
N N T Q G K S O A U D V W O B L P K X E E T S U R T W S H Z P N
E D D N Z L T D F P R V T I P R O V I S I O N S Q H Y T I I B D
R E U I I R U E I E A W T A L Y G K C H F P N G E K S C H T S U
A S A C S N A G S S W C I Q I L N H H O K O T A L U Q S R E W M
P A Q M G P D N X T T Z N F R I I V I S V W R Z S U N J E I A L
D E Y Q Y U O I W H A R E I E M N Z L G C E U O N A V K B V H U
N C K X F C U S V U O M I W L A N J D Z A R S W I R Q P D N J X
A E Q I W T L N I I C O E B D F A L R F I O T D M S L N U K D U
R D F Q C P O Q U T D R G N U R L I E R Z F R W I T N E S S E S
G Y S N M T O E J H I U D B T T P Z N A G A E N F C O D I C I L
