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Recent Posts
How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

The post Social Security, Medicare, and HSAs first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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What Is Succession Planning with GRATs?

December 16, 2021

The gap between what your current business is worth during the process of completing your estate and succession planning and what it could be worth in the future when you pass away should be considered as part of your overall planning process.

Many people choose to address this financial gap using a tool known as an irrevocable life insurance trust. When an irrevocable life insurance trust is structured correctly the benefits in that insurance policy do not pass through probate and can be available to your beneficiaries immediately. This can provide valuable cash reserves for the payment of estate taxes or other concerns.

You might also wish to retain a source of income for yourself while passing your business assets onto your children, and you might be able to use a tool known as a grantor retained annuity trust to accomplish this.

If assets inside grow during the course of the trust, the appreciation is not subject to estate taxes if you’ve done your planning properly. This can be a very beneficial and powerful tool for passing on a business that is growing rapidly. As with all things related to business succession planning and estate planning it is important to have the support of an experienced lawyer to guide you through the process. Schedule a consultation with a dedicated lawyer today to learn more.

 


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Schedule your free Exploratory phone call

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can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

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Listen in, Join the Conversation!

Recent Posts
How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

The post Social Security, Medicare, and HSAs first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more