Building a successful business takes years of focus and sacrifice. When you’re finally ready to step away, you want to be sure you can extract the value you’ve created, protect your employees, and preserve the company’s legacy.
While many owners think of selling to a competitor or private equity firm, there’s another strategy that can provide liquidity and keep your business in the hands of people who helped build it: the Employee Stock Ownership Plan (ESOP).
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When it comes to transferring wealth, many people think first about wills, trusts, or gifting strategies. But one of the most versatile and efficient tools available is often overlooked: life insurance.
Life insurance isn’t only about providing liquidity to pay estate taxes. With thoughtful planning, it can be a powerful vehicle to create wealth, preserve it, and transfer it tax-efficiently to future generations.
Let’s explore how life insurance can support other wealth transfer techniques—and how it can also function as a standalone strategy to leave a lasting legacy.
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Over the last decade, historically low interest rates shaped many estate planning strategies. But times have changed. As interest rates rise, certain techniques that once delivered significant tax benefits may lose some appeal—while others become more effective.
If you’re a business owner or high-net-worth individual considering succession and estate planning, it’s essential to understand how today’s rate environment can impact your plan.
View postThe myriad of planning opportunities in this environment of low interest and asset valuation levels, combined with the unique benefits related to the design of a Shark-fin CLAT make this an excellent time to address estate planning.
View postDue to the current economic environment, CLATs are a solid planning technique to consider for helping clients reach their advanced estate planning goals.
View postThe combination of higher transfer tax exemptions, low interest rates and a reduction of asset values has created a unique opportunity for creative and effective estate and financial planning strategies. Clients should consider exploring these advanced strategies to help reach their goals and financial objectives.
One area many clients are focusing on is the current doubling of federal gift, estate and generation-skipping transfer tax exemptions, which are set to sunset to $5 million (adjusted for annual inflation) after December 31, 2025. …
View postHow Volatile Markets, Fears of COVID-19 Contagion, and Global Uncertainty Have Conspired to Present an Incredible Planning Opportunity
At the risk of sounding
tone-deaf, 2020 is turning into one of the most historic “perfect storms”
in the realm of income and estate tax planning – specifically for
business owners and owners of illiquid assets.Surely, what
is unfolding around COVID-19 is both troubling and fear-inducing,
specifically for those most vulnerable to the illness. No planner would ever
wish for these circumstances – and our team continues to implement
proactive protocols to do our part in both hedging against unnecessary
risks of spreading the virus –…
Saving and planning so that you have the funds you need to enjoy your retirement is vital, but what happens in the event that you need long term care?
View postWhile there are many succession planning best practices to consider, and each company’s situation calls for a unique approach. We have narrowed our advice down to three top tips.
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