Succession Planning Articles
Posted by Cheryl A. Jankowski on December 17, 2019
Some business owners design their estate plans without consulting a business valuation professional, but do-it-yourself valuations can be risky.
Posted by D’Marie Murray on December 03, 2019
When the interests of trust beneficiaries come into conflict, everyone in the family can suffer. If your trust includes both “lifetime” and “remainder” beneficiaries, it's possible to align the interests of both groups with a total return unitrust.
Posted by Cheryl A. Jankowski on November 07, 2019
Do charitable gifts play an important role in your estate plan? If you make or plan to make substantial noncash gifts to charity, you should be aware of how new requirements for appraisals can affect those donations.
Posted by Robert Ingrasci on October 29, 2019
When you hear “estate planning,” you probably think of trusts and other vehicles for minimizing taxes and passing on more wealth to your heirs. However, a will remains the cornerstone of any estate plan.
Posted by Cheryl A. Jankowski on June 28, 2019
The Tax Cuts and Jobs Act has brought great changes to estate planning. In doing so, it bolstered the potential value of dynasty trusts. This article explains why these trusts are well worth considering for tax purposes. We'll also look at valid nontax reasons for establishing one.
Posted by D’Marie Murray on June 27, 2019
Beneficiaries of a South Dakota estate failed to make a payment when submitting a federal estate tax return — and again failed to pay when the IRS subsequently notified them of additional assessments. The IRS sued. In U.S. v. Ringling (2017), a district court reviewed the facts and ultimately granted the IRS's summary judgment motion.
Posted by Cheryl A. Jankowski on June 11, 2019
Estate planning isn't just for the rich and famous. While it's true that the Tax Cuts and Jobs Act (TCJA) provides generous estate tax relief, even for well-to-do families, the need for estate planning has not been eliminated. There are still numerous reasons to develop a comprehensive estate plan and regularly update it.
Posted by Cheryl A. Jankowski on May 09, 2019
Tax reform legislation doubled the federal estate, gift, and generation-skipping transfer (GST) tax exemption to $11.18MM (as indexed for inflation) per person. This created a seven-year window for increased wealth transfer planning.