/Tag: estate planning

Impact of COVID – 19 Brings “Going Concern” Issues to the Forefront

By |2020-05-07T22:44:33+00:00April 28th, 2020|Categories: Articles, Audit & Accounting, Blog, COVID 19|Tags: , , |

Companies of all sizes in all industries are faced with disruptions to their supply chains and customers due to COVID-19, creating “going concern” issues.

A review of your estate plan is necessary after a divorce

By |2020-03-30T21:44:16+00:00June 21st, 2019|Categories: Blog|Tags: , , , , , , |

Estate Plan After Divorce If you’re divorcing, it’s important to review your estate plan as early as possible, for two reasons: First, you may wish to revise your plan immediately to prevent your spouse from inheriting or gaining control over your assets if you die or become incapacitated before the divorce is [...]

The unique considerations in estate planning for single parents.

By |2019-05-09T00:00:27+00:00May 8th, 2019|Categories: Articles, Blog|Tags: , , , , |

    Estate Planning for Single Parents Here’s a fast fact: The percentage of U.S. children who live with an unmarried parent has jumped from 13% in 1968 to 32% in 2017, according to Pew Research Center’s most recent poll. While estate planning for single parents is similar to estate planning for families [...]

Employee stock ownership plans can be critical estate planning tools

By |2020-04-07T22:39:13+00:00January 31st, 2019|Categories: Blog|Tags: , , , , , , |

Employee stock ownership plans (ESOPs) offer closely held business owners an exit strategy and a tax-efficient technique for sharing equity with employees. But did you know that an ESOP can be a powerful estate planning tool? It can help you address several planning challenges, including lack of liquidity and the need to provide for [...]

8 Steps to Handling the Challenges when a Spouse Dies Suddenly

By |2019-03-22T21:22:15+00:00January 18th, 2019|Categories: Blog|Tags: , , , , |

What if the unthinkable happens and your spouse dies unexpectedly? Would you be prepared to cope emotionally and financially? As the surviving spouse, you’ll face several tasks and challenges. What to handle first By no means complete, the following are areas that will need to be addressed: Death certificates. One of the first things to [...]

Charitable remainder trusts can provide a wealth of benefits

By |2017-11-10T21:26:51+00:00November 10th, 2017|Categories: Estate & Trusts|Tags: , , , , , , , , |

Charitable remainder trusts (CRT) may be a great estate planning strategy for the charitably inclined. A CRT allows you to support a favorite charity while potentially boosting your cash flow, shrinking the size of your taxable estate, reducing or deferring income taxes, and enjoying investment planning advantages. How does a CRT work? You contribute stock [...]

Is a charitable lead trust right for your family?

By |2017-06-22T18:49:02+00:00June 22nd, 2017|Categories: Estate & Trusts|Tags: , , , , , , , |

Families who wish to give to charity while minimizing gift and estate taxes should consider a charitable lead trust (CLT). These trusts are most effective in a low-interest-rate environment, so conditions for taking advantage of a CLT currently are favorable. Although interest rates have crept up in recent years, they remain historically low. 2 types [...]

Planning to leave your IRA to someone other than your spouse?

By |2017-05-24T13:42:03+00:00February 20th, 2017|Categories: Estate & Trusts|Tags: , , , |

An IRA can be a powerful wealth-building tool, offering tax-deferred growth (tax-free in the case of a Roth IRA), asset protection and other benefits. But if you leave an IRA to your children — or to someone else other than your spouse — these benefits can be lost without careful planning. “Inherited IRA” stretches tax [...]

Your 2016 charitable contributions will offer both estate planning and income tax benefits

By |2017-05-24T13:42:04+00:00December 16th, 2016|Categories: Tax Planning|Tags: , , |

During the holiday season your thoughts likely turn to helping those in need by making charitable donations. Doing so will benefit your favorite organizations and help you achieve your estate planning goal of reducing the size of your taxable estate. In addition, by donating during your lifetime, rather than at death, you’ll receive an income [...]

Transfer your family business the tax-smart way

By |2017-05-24T13:42:04+00:00November 10th, 2016|Categories: Estate & Trusts|Tags: , , |

Is a family-owned business your primary source of wealth? If so, it’s critical to plan carefully for the transition of ownership from one generation to the next. The best approach depends on your particular circumstances. If your net worth is well within the estate tax exemption, you might focus on reducing income taxes. But if [...]

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