How small-business owners handle the process of retiring or exiting from their businesses will have a tremendous impact on their ultimate level of wealth. Making appropriate decisions in this regard can seem less overwhelming if you see it through the lens of Wall Street: sell, hold, or buy.
Posts Categorized: Estate Taxes
The Case Against Do-It-Yourself Wills – Forbes.com
You can do your estate planning documents yourself, but by saving a few bucks now, you may cost your loved ones a lot more later. Here is an excerpt from, and link to, an interesting article by Deborah L. Jacobs.
Estate Tax is One More Reason to Hate the Yankees
This is an excerpt from a clever piece written by an obvious Boston fan named Jim Moniz, who is president and CEO of Northeast Wealth Management, a Braintree, MA-based company that focuses on the needs of high-net-worth individuals and professionals. It underlines the importance of being aware of what Congress is doing (or not doing) regarding the estate tax–the tax on the privilege of owning stuff when you die–and how that might affect you and your loved ones.
How to Make the IRS and Lawyers Prosper at the Expense of Your Beneficiaries
A scenario that plays out far too often: a parent’s intended beneficiaries lose most of their inheritance to the IRS, court costs, and lawyers. This recent Tax Court case provides a cautionary tale about the perils of incomplete planning.
2010 is the Year of No Estate Tax; Watch Out for 2011
By dying in 2010, the billionaire and long-time New York Yankees owner’s wealth avoids the federal estate tax, likely saving his heirs enough money to field an entire team of Alex Rodriguezes.
Too Rich to Live? – WSJ.com
It’s looking more and more like the estate tax will be coming back with a vengeance in 2011. It’s not too early to plan for how to minimize the bite. This WSJ article provides a pretty good explanation of the current situation and future prospects.
Estate Tax Dormant, Billionaire’s Bequest Is Tax-Free – NYTimes.com
Dan L. Duncan, a soft-spoken farm boy who started with $10,000 and two propane trucks, and built a network of natural gas processing plants and pipelines that made him the… Read More »
Sanders Estate-Tax Proposal Would Hit Wealthy Harder – WSJ.com
Vermont independent Sen. Bernie Sanders and three Senate Democrats Thursday proposed an estate-tax plan that would hit wealthier taxpayers harder than another proposal on the table. The estate tax lapsed… Read More »
Answers to questions about trusts
This blog posting answers some critical questions about trusts, asset preservation, and estate taxes.