4Thought Blog

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Estate Planning: The Three Most Important Documents You Need

Posted by Tammie Yearwood on Thu, Feb 16, 2017

Establishing an estate plan is one of the most important steps you can take to protect yourself and your loved ones. In addition to saving taxes, it’s essential to ensure your assets will be distributed according to your wishes.

In many instances, people spend more time planning a family vacation than they do planning their estates. They look at estate planning as a burden instead of an opportunity. You’ve worked hard your whole life to provide for your family and make your loved ones more secure, so be sure to have an estate plan.

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Topics: Estate planning

Estate Planning: 10 Reasons to Plan for Your Family’s Future

Posted by Thomson Reuters on Tue, Dec 27, 2016

If you already have a last will and testament, then you are among the minority of the population. Great planning! However, for those of you who do not have a will, we understand some of the reasons why you hesitate to formally plan your estate.

Here are some of the reasons people cite for not having a will, along with some arguments in favor of planning your estate:

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Topics: Estate planning

The Proposed Changes to Valuation Discounts for Family-Owned Businesses: An Update

Posted by E. Patrick Rush on Tue, Aug 30, 2016

The IRS recently issued new proposed regulations designed to reduce the ability to take valuation discounts on intra-family transfers of interests in privately-held businesses. These proposed regulations aim to reduce the ability to apply valuation discounts which can affect future estate and gift tax planning.

If the proposed regulations are finalized in their current form, they could profoundly change the landscape of estate and gift planning for family-owned businesses by making it harder to apply minority and marketability discounts based on liquidation restrictions.

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Topics: Business tax planning, Estate planning

Attention Family Businesses: IRS Seeks to Change Gift Tax Rules on Minority Interests

Posted by E. Patrick Rush on Thu, Aug 11, 2016

It used to be easier to minimize taxes when passing the business baton to the owners next generation, but the IRS is tightening regulations on transfers.

But there are steps you can still take to help ease the impact of transition for the future.

The IRS just issued new proposed regulations that are designed to reduce the ability to take valuation discounts on intra-family transfers of interests in privately-held businesses.

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Topics: Business tax planning, Estate planning

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