Category Archives: Estate Planning
Succession Planning and Estate Planning Must Go Hand in Hand
As the saying goes, nothing lasts forever — and that goes for most companies. Then again, with the right succession plan in place, you can do your part to ensure your business continues down a path of success for at … Continue reading
Keeping Your Family Business in the Family
A successful family business can provide long-term financial security for you as its owner, as well as for your loved ones. To improve the chances that your company will continue to benefit your heirs after you’re gone, take steps now … Continue reading
Business Owners, Help Your Estate by Gifting Company Stock
Everyone needs a solid estate plan to distribute assets according to their wishes and benefit their heirs. But this necessity is especially keen for business owners, many of whom have spent years working hard to build up the values of … Continue reading
Estate Tax Deferral Offers Relief to Some Business Owners
If a substantial portion of your wealth is tied up in a family or closely held business, you may be concerned that your estate will lack sufficient liquid assets to pay estate taxes. In such cases, heirs may be forced … Continue reading
Why You Need a Health Care Directive
A health care directive allows you to communicate your preferences for medical care in the event you’re incapacitated and cannot express your wishes. Also called a “living will,” “advance medical directive” or “directive to physicians,” this document provides your physicians and family with … Continue reading
Now’s The Time to Consider Short-Term GRATs
The fact that a minimum term for grantor retained annuity trusts (GRATs) has been discussed in Congress but not become law — combined with low interest rates — may make it an ideal time to add short-term GRATs to your estate planning … Continue reading
The Importance of Knowing the Value of Your Assets
With the gift and estate tax exemptions currently at $5.43 million, you might think that estate valuations are less important. But even if you believe that your estate’s value is under the exemption amount, it’s still important to know the value of … Continue reading
Mutual Fund Basics
A mutual fund pools the money of many investors to purchase securities. The fund’s manager buys securities to pursue a stated investment strategy. By investing in the fund, you’ll own a piece of the total portfolio of securities, which could … Continue reading
Should I establish a trust for my child’s college education fund?
Question: Should I establish a trust for my child’s college education fund? Answer: The answer depends first on your financial objectives and then on other factors that will influence those objectives. Trusts are frequently used to minimize estate taxes, get … Continue reading
Are life insurance proceeds income taxable?
Question: Are life insurance proceeds income taxable? Answer: In general, life insurance proceeds paid to you because of the death of the insured are not subject to federal income tax. To qualify for such favorable tax treatment, the life insurance … Continue reading
