A popular estate planning tool that has long been used effectively may be facing new challenges under the current administration in Washington, DC. The family limited partnership (FLP) is an estate planning tool that allows families not only to transfer significant amounts of their wealth to succeeding generations while reducing estate, gift, and income tax liabilities but also to achieve several other important estate planning goals.
Real estate encompasses not only one’s primary residence but also other real estate such as a vacation home or a rental property. The ideal form of ownership varies depending on ...
You and your spouse live together, you work together, and chances are you spend a lot of your free time together. Having a successful marriage and business takes a lot ...
The new year is fast approaching. As we all prepare for the holidays, here are some things that should be on your end-of-year checklist: 1. Make Sure Your Estate Planning ...
Estate planning is an important task that everyone should undertake as it helps to protect your family and their financial future. However, estate planning can do much more than focus ...
Preparing your company for your incapacity or death is vital to the survival of the enterprise. Otherwise, your business will be disrupted, harming your customers, employees, vendors, and ultimately, your ...
Congress delivered the historic 560-plus-page Tax Cuts and Jobs Act, and President Donald Trump signed it into law on the Friday before Christmas. The changes will affect 2018 taxes, not ...
If you co-own a business, you need a buy-sell agreement. Also called a buyout agreement, this document is essentially the business world’s equivalent of a prenup. An effective buy-sell agreement ...
The limited liability company (LLC) is a hybrid type of business structure, offering business owners the best of both worlds: the simplicity of a sole proprietorship or partnership, with the ...
Family dynamics – tax changes – irratic markets. All of these components can make starting conversations about estate planning difficult for Wisconsin’s farm families. Dan Purtell with the Wilson Law ...