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

Posted by Concannon Miller 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 and Trust Services

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

Posted by Concannon Miller 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 and Trust Services

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

Posted by Concannon Miller 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 and Trust Services

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