The first common estate planning mistake is to do nothing. For more basic estate planning tips from United States Supreme Court Counselor Lee R Phillips or to get a copy of his book, Protecting Your Financial Future, visit http://www.phillipsestateplanning.com Duration : 0:9:8 Recommended ReadingFamily Farm Succession PlanningElder Law and Estate Planning – Corporate Event Video [...]
Read More...Almost no one believed it would happen, but here we are: For the first time since 1915, the United States has no federal estate tax. Congressional action nine years ago created the potential for this situation, and congressional inaction last year made it happen. At the 44th annual Heckerling Institute on Estate Planning, which I [...]
Read More...Businesses used to be transferred from one generation of a family to the next very regularly. While it no longer happens anywhere near as much these days, that doesn’t mean that you can’t leave the business you’ve worked so hard to build to your kids. The passing of a business from one generation of family [...]
Read More...That’s right. They bring the money when something bad happens that would otherwise mean the death of the dreams the farmer when their family began farming decades, in most cases generations ago. It is true that running any farm or business is always trial and error – you make clever assessments of opportunities and risk [...]
Read More...Let’s face it. You’re alive now and one day you’ll die. You will likely own stuff when you die, and all of your stuff is called your “assets.” Assets have value, and at your death, those assets need to be given to someone who is still alive…unlike you. Your assets are also known as your [...]
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