When you own a business, you need to plan for what will happen to it after you die. Estate planning involves managing and protecting your assets. As an owner, it is important to understand the key considerations of this process for your company. Business structure...
Helping You Through Times of Change
Month: April 2024
Creating an estate plan for a blended family
Nowadays, many people find happiness in a new marriage following a divorce or death of a spouse. In fact, approximately 40% of all marriages involve at least one partner who is entering a second marriage. In some of these families, either or both partners may have...
The 2024 changes in generation-skipping transfer taxes
Skipping a generation when transferring your assets can prevent paying the federal estate taxes twice. However, this process is not entirely tax-exempt. A generation-skipping transfer tax applies to transfers to relatives more than one generation younger and gifts to...
The complexities of dying intestate
If you pass away without a will, the state considers you to have died “intestate.” This means that the court will decide the distribution of your properties among your heirs. Depending on the complexity of your assets and the response of your beneficiaries, the...