November 16, 2015 |
Strategies for Shifting Income for Taxpayers
Wealthy taxpayers who have incomes above a certain threshold should be aware of some basic tips for shifting incomes and minimizing the hit of taxes. ...
Learn MoreStrategies for Shifting Income for Taxpayers
Wealthy taxpayers who have incomes above a certain threshold should be aware of some basic tips for shifting incomes and minimizing the hit of taxes. One popular technique for addressing this concern is to gift assets to cousins, grandchildren, or other relatives. This is known as the gift tax exclusion, but in order to get the most out of it, you need to know the limits and how it affects your estate.
One other option is a family limited partnership. In this scenario, the money is moved to others more indirectly, but as a result of the relatives either performing routine tasks or an outright act of bequeathing the gift.
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Blog
November 13, 2015 |
Is a Revocable Living Trust the Best Way to Provide Asset Protection?
Although a revocable living trust is one of the most commonly recommended by an attorney when you are crafting your will or taking other estate ...
Learn MoreNovember 12, 2015 |
The Benefits of Asset Protection Planning in Nevada
When a liability issue arises, action is often too late even if it’s well-meaning. Early formation of an LLC or an asset protection trust in ...
Learn MoreNovember 11, 2015 |
Tips for Business Succession Planning: Is Selling the Business Always the Better Choice?
When confronted with what to do for business succession planning, a business owner might consider multiple options including passing the business on to other family ...
Learn MoreNovember 10, 2015 |
What Role Does Ageism Play for Elders?
First defined in 1968, ageism refers to the systematic stereotyping of and discrimination against individuals as a result of their age. Social scientists argue that ...
Learn MoreNovember 9, 2015 |
Risks and Opportunities Associated With Estate Planning Linked to Europe
Recently European succession regulation went into effect for all members of the European Union except Denmark, the United Kingdom and Ireland. One important regulation for those ...
Learn MoreNovember 6, 2015 |
What a Second Marriage Means for Estate Planning
A second marriage can raise many questions about who gets what, whether these people should get property, and will feelings be hurt? Each spouse should ...
Learn MoreNovember 5, 2015 |
Tips for Saving on Estate Planning Costs
Knowing what you need is simply the first step in estate planning. Most people will use a power of attorney, a will and a healthcare ...
Learn MoreNovember 4, 2015 |
What Does the CCRC Mean for Estate Planning?
Planning for your later life and how you’ll use your assets to support your retirement might involve a Continuing Care Retirement Community. This rides the spectrum ...
Learn MoreNovember 3, 2015 |
Is Business Succession Planning a Question of Fairness?
It’s very likely that a business could turn out to be the largest asset held within a family. But fairness of how to deal with ...
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