Estate should be handled very much like LLCs, with two classes of owners. Three elements of any assets include control, equity, and cash flow, and not all need to be vested in the same individual.
The Three P’s and the Three Elements
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estate and tax planning
Separate but Equal – or Unequal – Business Succession Planning
Successful transfer of business interests requires very careful planning. Simply leaving a business in equal shares to all children can be a recipe for disaster. Estate planning is for everyone, but particularly for business owners!
More About Social Security and Estate Planning
A social security/tax planning strategy called the Social Security Split can impact estate and gift planning as well as social security benefits themselves…
The Pandemic is Forcing People to Pace Their Need for Estate Planning
The pandemic is forcing business owners to think more about estate planning for their families and succession plans for their businesses.
Bypass Trust Helps Avoid Certain Estate Planning Issues
Bypass trusts are especially useful in estate planning, but there are special challenges when it comes to assets in retirement plans such as IRAs and 401Ks.
Talking to Parents About Estate Planning
For most of us, estate planning is one of the most challenging topics to discuss with our parents. Even broaching the subject can seem daunting. Despite the challenging nature of this subject, it is one of the most important conversations we can have with our parents....
Estate Planning, Too, is Based on Longevity Assumptions
Estate planning, like retirement planning, is based on longevity assumptions. As we age,, our goals and preferences change..
‘Tis the Gifting Season
Gift giving – things you need to know about taxes and how to avoid them.
So What If I Don’t?
Sometimes children don’t understand the consequences of their own actions. When it comes t estate planning, some people might not understand the answer to the question “So what if I don’t do any planning?
The Chicken-or-Egg Estate and Tax Planning Conundrum
Each estate planning tactic must take into consideration the needs of more than one generation.
