Planning is one of the most important aspects of managing any business. This is especially true for farms and agribusinesses, due to their complexity and the inherent uncertainties associated with agriculture.
Funded with cash or other assets, donor-advised funds give charitably minded investors control of when and where their funds are distributed.
Estate planning can help you pass on assets to your heirs, while potentially minimizing taxes. When gifting assets, it’s important to consider when and how the generation-skipping tax transfer (GSTT) may apply.
Charitable remainder trusts give you more options and more control on how your heirs inherit, now that the “stretch” IRA is a thing of the past.
While direct giving has an immediate impact, some individuals may be considering charitable planning strategies that will have a larger and longer-lasting impact not only on charities, but on their own lives or that of their families.
Like a lot of estate planning vehicles, irrevocable trusts work very well for some purposes—particularly for tax avoidance and asset protection—and not so well for other purposes.
Robert Redford officially bought what was once the Timp Haven Resort (now known as the Sundance Mountain Resort) in 1969. This year, he’s stepped away, selling the resort to Broadreach Capital Partners and Cedar Capital Partners. While we don’t know how much the resort was sold for, the structure of the sale shows how this iconic real estate investor has built a successful exit strategy.
Is it better to transfer the title of the home to us, or to leave it as it is given her age and go through probate?
We currently have the highest estate tax exemption and the lowest intra-family interest rates in history. That combination alone is significant, but when mixed with the potential for lower estate and gift tax exemptions and depressed business valuations, you have a potent catalyst for transitioning ownership.
To ensure a lasting legacy, you need to get your documents in order and have a clear plan for how your wealth will transfer, avoiding taxes and inheritor pitfalls along the way.
