Benefits and Drawbacks of Family Limited Partnerships
You don’t have to be ultra-wealthy for a family limited partnership to make sense.
January 3, 2023
Unified Tax Credit is Central to Estate Planning
Gift taxes and estate taxes are only applied if your bequeathed assets exceed a certain dollar amount. Here’s a look at what the unified tax credit is, how it relates to gift or estate taxes and who this credit impacts.
December 13, 2022
Protect the Family Business for the Next Generation
Failing to properly plan for disability, death, or the ultimate transition of a family business can lead to disastrous financial consequences for both the business and the family.
December 6, 2022
The Estate of The Union Season 2|Episode 4 is out now!
The Estate of The Union Season 2|Episode 4 – How To Give Yourself a Charitable Gift is out now! This is the time of the year
November 29, 2022
A Few Ways to Transfer Home to Your Children
Transferring a home to adult children is not quite as easy as giving them the keys and letting them move in. No matter how you do it, the taxman wants his cut, whether through estate and gift taxes or those for property and income, both federal and state.
November 16, 2022
IRS Announced New Lifetime and Gift Tax Exemptions
The Internal Revenue Service Today announced new inflation-adjusted limits for 2023 that will allow well-off individuals to transfer much more to their heirs tax free during life—or at death.
November 15, 2022
GRATs are good Estate Planning Strategy
Grantor-retained annuity trusts, or ‘Grats,’ are a wealth-transfer technique that shift investment growth out of an estate to heirs tax-free.
November 14, 2022
The Difference between Revocable and Irrevocable Trusts
A trust is an estate planning tool that you may consider using if you want to go beyond drafting a last will and testament.
October 13, 2022
IRAs can be used to make Charitable Bequests
There’s a tax-smart way to make bequests by using assets from individual retirement accounts at death.
October 3, 2022
Estate Planning should include Consideration of Income Tax
Avoidance of estate taxes is one consideration in estate planning.
August 23, 2022