Gifting Property? What Taxes to Expect
August 17, 2018Gifting Property-What to Know Currently, lower estate prices make it a great time to gift a home to your children. This allows them to obtain the property now, which it’s still valued low, and benefit from its increased value, as the market improves. If this sounds like an attractive plan for you, visit our experienced… Read more »
Business Mergers: What You Need to Know
July 20, 2018Business mergers are one of the most stressful parts of running a company. You need the right tactics and guidance if you are going to pull it off successfully. If you don’t, you could put your company in jeopardy. What You Should Know About Mergers Business mergers are not like regular business transactions. They are… Read more »
3 Keys to Managing Business Finances
July 06, 2018Three Steps to Managing Business Finances When it comes to running your business, finances are the most important aspect. They dictate how much you can invest regarding opportunities, who you can hire, and how much profit you have at the end of the day. However, you need to understand the three major keys of business… Read more »
Why Setting Goals Is Necessary in your Business Plan
May 16, 2018Setting Goals is an Important Part of a Business Plan Every successful company starts with a good idea. These ideas are expressed in goals that you set and carry out on paper. Your business plan is the document that you need to get started. See how important it is to develop this plan correctly and… Read more »
Which Comes First: Estate Plan or Exit Plan?
April 10, 2018Chicken or the Egg? It’s the Same with Estate Plan or Exit Plan Business Exit Planning is part of every successful business plan. An exit plan guides you on how you can leave your business. You do not want to bear the loss when you close your business. It answers the question of what you… Read more »
Can I Get the Capital Gains Benefit if I Buy My House from my Trust?
September 01, 2017Utilizing a QPRT for Capital Gains Benefit A qualified personal residence trust (QPRT) is a specific type of irrevocable trust that allows its creator to remove a personal home from their estate for the purpose of reducing the amount of gift tax that is incurred when transferring assets to a beneficiary. QPRT may allow for… Read more »
What if I Survive the Trust Term?
August 30, 2017Trust Term of a Qualified Personal Residence Trust (QPRT) A qualified personal residence trust (QPRT) is a specific type of irrevocable trust that allows its creator to remove a personal home from their estate for the purpose of reducing the amount of gift tax that is incurred when transferring assets to a beneficiary. Qualified personal residence… Read more »
Are There Any Disadvantages to a Qualified Personal Residence Trust?
August 28, 2017Qualified Personal Residence Trust-what are the advantages? What exactly is a Qualified Personal Residence Trust (QPRT)? A qualified personal residence trust (QPRT) is a specific type of irrevocable trust that allows its creator to remove a personal home from their estate for the purpose of reducing the amount of gift tax that is incurred when… Read more »
What is a Qualified Personal Residence Trust and How Does it Work
August 24, 2017Learn About Qualified Personal Residence Trust (QPRT) A QPRT is a trust that holds a personal residence for a term of years, allowing you, in effect, to give away your residence at a discount and “freeze” its value for federal estate tax purposes—all while continuing to live in it. A Qualified Personal Residence Trust takes… Read more »
Are There Non-Tax Reasons to Use a Dynasty Trust?
August 22, 2017There are many reasons to Use a Dynasty Trust, some are non-tax reasons The non-tax reasons for creating the dynasty trust vary depending upon the needs and desires of the trustmaker. Dynasty trusts can be created to provide creditor and “predator” protection for the beneficiaries of the trust, generation after generation. They can shield against… Read more »