Most employees of companies do not have to concern themselves with the future of the company after they retire or pass away. Of course loyal individuals certainly care about the company that they invested so much energy into over the years. But the truth is that when the time comes to step away the company will simply self-navigate into the future. Conversely, succession planning is a very prominent concern for business owners who are planning for retirement and their eventual … [Read more...] about Succession Planning: What Lies Over The Horizon?
Estate Planning
Estate Planning Advice: Go To The Source
If you are looking for expert advice about something you do not go to a generalist. You do not go to a general practitioner when you have an orthopedic problem that requires a particular brand of expertise. Your health is of tantamount importance and you want to make sure that you are getting the best possible care given the specific nature of the situation. This same mentality applies to estate planning. It involves arranging for the distribution of significant stores of … [Read more...] about Estate Planning Advice: Go To The Source
Inheritance Planning With Sentiment In Mind
Inheritance planning is on the one hand a legal matter as you work with a good estate planning lawyer to optimally position your assets. One thing to concern yourself with is going to be the federal estate tax, and you also have to consider the dynamic of your family and the proclivities of the recipients. Depending on the precise circumstances any number of approaches can be appropriate. There is however another side of things to consider. Distributing liquid assets is one thing, … [Read more...] about Inheritance Planning With Sentiment In Mind
Limited Gift Giving Window Exists
There is a Federal gift tax in place that is designed to prevent people from giving away their resources while they are still alive in an effort to circumvent the estate tax. It carries the same rate as the estate tax which is 35% as of this writing. These two levies are said to be "unified," so the exclusion that exists encompasses both your estate and any gifts that you give that are not exempt for one reason or another. Under current laws the unified exclusion is $5.12 million, … [Read more...] about Limited Gift Giving Window Exists
Estate Tax: Clarity May Emerge During Election Season
We are in a familiar if not altogether comfortable situation in 2012 with regard to the estate tax parameters. Uncertainty reigns, but we may begin to see some clarity as the election season heats up this year. Back in 2010 we had a midterm election, and the question of possibly extending the Bush era tax cuts was part of the debate. You may remember that a tax relief measure was in fact passed at the end of that year that is now called the Tax Relief, Unemployment Insurance … [Read more...] about Estate Tax: Clarity May Emerge During Election Season
Don't Jeopardize Special Needs Benefits
You have to see the big picture and think everything through when you are arranging for the transfer of assets to those that you love after you pass away. Each situation is different and you should carefully evaluate the recipients' needs and proclivities before taking any action. This is something that is very important when it comes to making provisions for someone in the family who may have special needs. People with disabilities often take advantage of programs such as Medicaid … [Read more...] about Don't Jeopardize Special Needs Benefits
Taking Action To Protect Land-Based Businesses
Some people are going to have different concerns than others when it comes to estate planning. One of the first things to prioritize when you are evaluating your situation is going to be whether or not your estate is exposed to the federal estate tax. There is a particular quantity of resources that can be passed along before the tax kicks in. Right now this exclusion stands at $5.12 million, but it is going down to just $1 million at the end of this year. The rate of the tax is … [Read more...] about Taking Action To Protect Land-Based Businesses
Does Your Estate Tax Exclusion Die With You?
A certain amount of financial resources can be passed on to your heirs before the federal estate tax becomes applicable. This exclusion amount is not consistent from year to year however, and as a result you have to be ready to make adjustments. The best way to be prepared at all times as things change is to develop a solid long-term working relationship with a good Indianapolis estate planning attorney. Your lawyer will gain an understanding of your unique situation and let you … [Read more...] about Does Your Estate Tax Exclusion Die With You?
Don't Rely On Overly Simplistic Solutions
Estate planning is something that a lot of people don't see as an immediate concern because death seems like a long way off. Because of this many individuals go through life without any estate planning documents at all. Others latch onto overly simplistic solutions feeling as though anything is better than nothing. One of the things that some people will do instead of devising a proper estate plan is to add a beneficiary or beneficiaries to a payable on death or transfer on death … [Read more...] about Don't Rely On Overly Simplistic Solutions
Residential Asset Protection
Your home may be your most valuable personal asset, and as a result you may be very interested in protecting it from any legal actions that may be lodged against you in the future. People who are in certain lines of work are naturally vulnerable to lawsuits, and for these individuals (and others) a qualified personal residence trust may be a good option. Once you place the property into the trust it is protected because it is technically no longer your personal property and it is not … [Read more...] about Residential Asset Protection
