We all want to be remembered, to feel that we’ve contributed something to the world. For some, this can be a driving force leading to great accomplishments and extraordinary contributions to mankind. But for most of us with more modest goals, what pushes us is the desire to leave a legacy. Do you know the […]

If you live in one of the states with an estate tax, you need to take the tax into account when planning your estate … Another state tax to take into account when planning your estate is the inheritance tax. Just when you think you’ve got the whole federal estate tax figured out, you may […]

Many families today are living with trusts that their ancestors established decades ago. In each case, there’s a definition of “family,” either explicitly written into the trust or, by default, applied by its governing law. There are innumerable ways that these trusts might define which family members are eligible to be beneficiaries and/ or remaindermen of […]

Failure isn’t something that most people plan for and that’s a serious mistake. Small business owners know more than anyone about the realities of bankruptcy, either in the form or near-misses or through personal experience. Consequently, no one needs to protect their assets quite as thoroughly or understand bankruptcy like a small business owner. If […]

“This is the thing people who disinherit someone don’t understand: It puts a huge amount of pressure on those who aren’t being disinherited,” says Caschetta, whose experience inspired her to write a book on the subject that she’s trying to get published. “Suddenly you have this rift and they have this choice. ‘Do I do […]

In general, the value of an easement is the value of the property’s development rights. But in practice, these financial values are far more nuanced and flexible. Do you know the fundamentals of conservation easements? If not, then you might want to do your homework before exploring this charitable tool. Better yet, you really ought […]

The first issue regarding portability is what does portability do? The answer is that portability allows the first spouse to die to transfer his/her unused estate tax applicable exclusion amount to the surviving spouse, who can then use it for his/her gift or estate tax purposes. The American Tax Relief Act of 2012 (ATRA) brought […]

The only time your Will would control who gets your IRA is if your estate is the beneficiary. Generally, it’s not a good idea to name your estate as the beneficiary of your IRA. Even though you made sure to prepare your Last Will and Testament, it is not always the final word on the […]

If selling your business is any part of your retirement plan, Mr. Gerber said, it is essential to know what your business is worth. And it is important to start tracking its value long before you plan to sell. As a business owner, your business and your life are pretty hard to separate. The odds […]

If you have property that you would like to be preserved, either for conservation or historic purposes, there is nothing so close to a free lunch as the donation of an easement. You may be entitled to a charitable contribution for the value of the easement. That, of course, is icing on the cake if […]