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Home » Financial Planning

Financial Planning

What Legal Structures Provide Asset Protection for Business Owners?

May 29, 2014Asset Protection, Estate Planning, Financial Planning, Small Business Planning

We have often heard it said that we live in a litigious society.  Any business owner could potentially be the subject of a lawsuit, but some people are more vulnerable than others.  For example, physicians and landlords are often targeted by litigious types.  All business owners should consider the value of asset protection, but it is absolutely essential for those who are in certain lines of work. Let's look at a couple of the legal structures that are typically used by … [Read more...] about What Legal Structures Provide Asset Protection for Business Owners?

White House Releases 2015 Budget; Estate Tax Changes Proposed

April 9, 2014Estate Planning, Financial Planning, Legacy Planning, Taxes, Wills and Trusts

Estate planning attorneys emphasize the fact that planning your estate is a dynamic process.  It is not a "one and done" affair.  You should create an ongoing relationship with your estate planning lawyer and be prepared to make changes to your plan over the years as things change. Changes to the tax code could render your existing estate plan obsolete.  With this in mind, you should be aware of some of the changes to the estate tax parameters that have been proposed within the … [Read more...] about White House Releases 2015 Budget; Estate Tax Changes Proposed

Will a Revocable Living Trust in Indianapolis Protect Family Wealth?

March 19, 2014Asset Protection, Estate Planning, Financial Planning, Living Trusts, Taxes, Wills and Trusts

There are different trusts that are used to accomplish varying objectives.  Sometimes people paint with a broad brush because they have a lack of information.  In this post we will look at revocable living trusts in Indianapolis and wealth preservation. Revocable Living Trust in Indianapolis A revocable living trust in Indianapolis is just that, revocable.  After you create the trust you are free to revoke or rescind it at any time.  Assets that you have conveyed into … [Read more...] about Will a Revocable Living Trust in Indianapolis Protect Family Wealth?

What Is a Qualified Personal Residence Trust?

February 4, 2014Estate Planning, Financial Planning, Taxes, Wills and Trusts

When you are planning your estate as a person who has been financially successful you should be well aware of the looming specter of the federal estate tax.  This death levy carries a 40 percent maximum rate. The amount of the exclusion in 2014 is $5.34 million. The exclusion or credit is the amount that you can transfer free of taxation. If you intend to transfer more than $5.34 million to your heirs you should consider tax efficiency strategies. When you are calculating the overall … [Read more...] about What Is a Qualified Personal Residence Trust?

Federal Estate Tax Exclusion Adjusted

December 12, 2013Estate Planning, Financial Planning, Taxes

Is Every Estate Subject to the Estate Tax?

If you are interested in wealth preservation you need to understand the law of the land when it comes to the federal estate tax.  Estate planning is a dynamic endeavor like any other type of financial planning.  Things change, and you should always be aware of relevant changes when they come down the pike. With this in mind we would like to pass along some news that has recently been released by the Internal Revenue Service.  First, let's take a look at the estate tax and the … [Read more...] about Federal Estate Tax Exclusion Adjusted

Indiana Estate Planning FAQ: What Is the Marital Deduction?

October 8, 2013Estate Planning, Financial Planning, Taxes

indiana estate planning

Indiana estate planning involves different courses of action for different people.  In a general sense everyone must execute a vehicle or vehicles of asset transfer.  However, the optimal estate planning strategy will vary on a case-by-case basis. When it comes to estate planning for high net worth individuals in Indiana, the matter of the federal estate tax can often come into play depending on the exact quantity of your financial resources.  We say that the exact quantity of … [Read more...] about Indiana Estate Planning FAQ: What Is the Marital Deduction?

Estate Planning: Celebrity Estate Cases Shed Light

August 30, 2013Estate Planning, Financial Planning, Taxes

Estate planning is important for everyone, but it is more important for some people than it is for others.  Celebrities who have very significant financial resources are risking big losses if they don't plan ahead intelligently. This is because of the existence of estate taxes.  The federal estate tax carries a maximum rate of 40%, and a number of states also have a state-level estate tax. Another thing to consider when you're thinking about celebrity estate planning is the fact … [Read more...] about Estate Planning: Celebrity Estate Cases Shed Light

An Examination of Federal Transfer Taxes

August 19, 2013Estate Planning, Financial Planning, Taxes

If you have been able to accumulate a significant store of wealth throughout your life you must take steps to mitigate your exposure to federal transfer taxes.  Those who do not plan ahead effectively could be doing their family members quite a disservice. There are taxes on asset transfers in the United States.  These levies can dramatically reduce the value of your estate as it is being passed on to your heirs.  Gifts that you give to others while you are alive can also be … [Read more...] about An Examination of Federal Transfer Taxes

Social Security FAQs Answered

August 9, 2013Financial Planning, Retirement Planning

The years can pass by quickly, and before you know it the prospect of collecting Social Security may start to become relevant to you.  There are some basic questions that people generally have, and we would like to answer them here. When will I become eligible for Social Security? This is a seemingly simple question that actually has multiple answers that are not entirely simple. You can apply for your benefit when you are as young as 62.  However, if you do this you will … [Read more...] about Social Security FAQs Answered

Tax Benefits Realized Through ILIT

July 8, 2013Estate Planning, Financial Planning, Taxes

Certain steps must be taken to reduce your estate tax liability if the value of your assets exceeds the exclusion amount.  One course of action to this end could be the creation of an irrevocable life insurance trust or ILIT. When you convey assets into an irrevocable trust rather than a revocable trust you no longer retain incidents of ownership.  Therefore, these trusts are often utilized by people seeking asset protection and estate tax efficiency. When you are tallying your … [Read more...] about Tax Benefits Realized Through ILIT

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