Getting A Valuation Adjustment For Certain Family Owned Businesses Has Been A Critical Planning Strategy In Avoiding An Estate Tax After Someone’s Death Well…the IRS is proposing to eliminate that strategy. Just yesterday, in the Federal Register, the IRS proposed new regulations that would all but eliminate valuation adjustments. This would apply to business entities,…
Got a plan? According to a estate plan study commissioned by the Boston College Center on Wealth and Philanthropy, more than $59 trillion in wealth is underway to pass to heirs, charities and Uncle Sam between today and 2061. That’s a LOT of cash…The majority of this is expected to be passed directly to heirs.…
Could Your House Be Demolished While You Lie In The Hospital & What Is A Personal Lawyer? Picture this: you are a senior citizen and you enjoy traveling to Florida. You are visiting and get sick while you are there and are required to be in the hospital for two months. While you are away,…
Just When You Think You Have Learned Everything You Can From Your Parents, You Find That There Is Still More To Learn Except that this time it is about the aging process and retirement, not about growing up or raising kids. Regardless whether your parents’ retirement experience is one you want to emulate or one…
Guilt. When You Are A Parent, You Feel Guilty It’s just how it is. Regardless of what the issue is, you hovered over your kids, you worked too hard, you regret using child care, or you were too permissive, the fact is, because you are thinking about it means you ARE A great parent. What matters…
When A Kid Turns 18, He Or She Is Thinking About College, Boyfriends Or Girlfriends, Music & Fun The new ADULT is NOT thinking about an estate plan and you probably aren’t thinking of one for him or her either. But you should be. Let’s dial it back to the the things that could go…
Heading On Your Trip Of A Lifetime? Add Completing Your Estate Plan To Your Packing List Americans are traveling more and more as the world shrinks. With online booking as the mainstay, we all have the power to take care of our arrangements from our living room. As you plan your vacation, you think about…
For Thousands Of Years, Burial Of Our Dead Has Occurred In The Ground Most of those burials have been green meaning no harmful chemicals were used on the bodies being buried. Embalming which is one of the most harmful practices to our earth did not even begin until the Civil War. Back then, soldiers’ bodies…
The Difference Between Will-Based Plan VS A Trust-Based Plan This question arises frequently: what IS the difference between a Will-based plan and a Trust-based plan so you can make an educated decision for the family about what is best for all. A Will-based plan is an estate plan that does not include a Living Trust…
Matters Of Death & Incapacitation Are Hardly Lively Topics For The Thanksgiving Dinner Table Yet, while it can be uncomfortable to talk about estate planning matters with family, it does affect everyone. Open, honest discussions can truly help and are an important element of getting things in order. No one recommends this discussion happen at…