Avoiding probate, reducing taxes, providing for heirs, and protecting a family business. These are the more popular reasons that most clients share when they start talking about why they want to establish an estate plan. However, there are several other less-discussed reasons that might prompt you to establish an estate plan. Recently, WealthManagement.com published an… Read More »
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5 Financial Gifts You Should Consider Making
Making a financial gift during this holiday season is more than a generous gesture to a loved one. It can also be a very powerful planning strategy. The Wall Street Journal recently published a timely article on four financial gifts to consider. We agree with the article, but we would like to make one addition… Read More »
What Does a Trump Presidency Mean for You?
The votes are in. Donald Trump is the President Elect. WealthManagement.com has published a great analysis piece on what the future of estate planning could look like under a Trump administration, and we believe the highlights are worthy of your attention. When Trump campaigned, he proposed the following tax reforms: • Eliminating the federal estate… Read More »
Your Estate May Be At Risk!
Long standing estate planning strategies which are used to help you reduce “estate tax”, and increase the inheritance you can leave for your family, may be changing and your estate may be at risk! On August 4, 2016, the IRS proposed regulations that will, if adopted, have the most comprehensive effect on the Estate Tax… Read More »
Putting Your “Planning” Ducks in a Row is Key to Protecting Your Business—and Your Assets
The desire for business ownership is on the rise. Today more than ever, people are looking to create their own fortune, set their own schedule and chart their own destiny. Unfortunately, owning a business or company also means being vulnerable to lawsuits. Whether you’re a dentist, store owner, or dance instructor, know this: by dealing… Read More »
How a Trust Protector Can Be Your Forever “Watchdog”
Estate plans don’t always sync up with real life. If you don’t make a point of keeping your plan current, let alone adaptable to the future, changes in family circumstances or even the law can prevent your plan from achieving what you intended. Wouldn’t it be great to have someone to fill the gap, if… Read More »
How FLPs and LLCs Can Help You Keep Assets and Disinherit the IRS
The Waltons was a long-running TV show in the 1970’s about a close-knit family that weathered tough times during the Great Depression and World War II. Today, people are more familiar with another set of soft-spoken, family-oriented Waltons, namely those who founded Wal-Mart, the world’s largest retailer. In sharp contrast, the modern day Waltons are… Read More »
Private Foundations: Doing Good While Doing Well
Making Philanthropy Both Personal and Smart The purpose of life is to discover your gift. The work of life is to develop it. The meaning of life is to give your gift away. — David Viscott Ever sit down to watch “Downton Abbey” or the latest Masterpiece series and see the words “With funding by… Read More »
Love Your Pet? Guarantee It Can Live the Good Life without You
Why You Should Include Your Pets in Your Estate Planning People may have laughed at Leona Helmsley, and more recently Joan Rivers, for setting up her dogs to live the (very) good life without her. But the fact is, including furry family members in estate plans is on the rise: a good thing, given an… Read More »
Proceed with Caution: Using 401k Money for Starting a New Business
Many of our clients have always dreamed of starting a business. Times are tough, though, and despite many years of experience in the workforce, they know their chances of getting a bank or small-business loan are slim. But there’s a way to put their years of work to use, The New York Times says –… Read More »