What’s Hot!
We want you to be informed, understanding investment/wealth management best practices and on new strategies to grow your nest egg!
Click these links to download printable documents.
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Charitable giving can play an important role in many estate plans. Philanthropy can provide great personal satisfaction, give you a current income tax deduction, let you avoid capital gains tax, and reduce the amount of taxes your estate may owe when you pass away.
(Be sure to read “Charitable Lead Trust” afterwards)
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A charitable Lead Trust can be a great way to leverage your generosity, providing tax savings for your favorite charity and your own family.
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Make sure you’re well prepared to file for 2009.
(click link to download)
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11 Ways To Stay Sane In An Unstable Market
Keeping your cool can be difficult when the market goes on one of its periodic roller-coaster rides. It’s a good idea to have strategies in place that prepare you both financially and psychologically to handle market volatility.
Here are 11 ways to keep yourself from making hasty decisions that could have a long-term impact on your financial goals.
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You’ve successfully owned and operated your business for years. Now, you’re ready to retire. How do you exit, and be sure your legacy lives on after you step down?
Should you sell your business, or give it away? Should your structure your plan to go into effect during your lifetime, or at your death? Should you transfer your ownership interest to family members, co-owners, employees, or an outside party?
The key is to pick the best strategy for your circumstances and objectives, and to seek help from financial and legal advisors to carry out your plan.
(Be sure to read Business Succession – Buy Sell Agreements)
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Business Succession – Buy Sell Agreements (includes case study)
A typical buy-sell agreement allows a business entity or other business owners to purchase a departing owners interest at a predetermined price.
Buy-sell agreements offer protection from disruption of operation, entity dissolution, or business liquidation, as well as shelter from unfair treatment by a departed partners heirs.
The included case study illustrates how one business owner put a plan in place to hand his business over.
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Non Profit Challenges & Responsibilities
Long gone are the days when nonprofit boards were made up of large donors who expected little more would be asked of them beyond socializing at an occasional fundraiser.
Today, board members are being required to do strategic planning, and to produce demonstrable results to be measured against specific benchmarks. Additionally, they’re finding the need to stretch already tight budgets further than ever before.
Board members are being held accountable, making sure the organization delivers on its mission in an effective manner.
Being on the Board of Directors for a non-profit is not what it used to be. Be prepared, and more effective by reading this!
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Whether you want to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals.
Their power is in their versatility. Many types of trusts exist, each designed for a specific purpose.
Although trust law is complex and establishing a trust requires the services of an experienced attorney, mastering the basics relatively easy.
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College Savings Plans (529 Plans)
529 college savings plans are tax-advantaged college savings vehicles and one of the most popular ways to save for college today.
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While 529 plans offer significant advantages for college savings, they are increasingly being used for another purpose – estate planning.
Under special rules unique unto 529 Plans, lump sum contributions to 529 plans can equal up to 5 times the amount of annual gift-tax maximums.
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If you own and operate a family business, a family limited partnership (FLP) or family limited liability company (FLLC) could become a vital component of your estate plan.
A properly formed and main- tained FLP or FLLC can facilitate the transfer of your business to the next generation, protect assets from potential creditors, and minimize income, gift, and estate taxes.
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Many parents pay for college with a combination of savings and financial aid. Indeed, with the high cost of college today, financial aid might be the only way your child can afford to attend college.
By learning the basics, you’ll be able to understand how the financial aid process works, properly fill out aid applica- tions, and compare the aid awards your child receives.
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Grantor Retained Annuity Trust (GRAT)
A grantor retained annuity trust (GRAT) is an irrevocable trust into which you make a one-time transfer of property, and from which you receive a fixed amount annually for a specified number of years (the annuity period).
At the end of the annuity period, the payments to you stop, and any property remaining in the trust passes to the persons you’ve named in the trust document as the remainder beneficiaries (e.g., your children), or the property can remain in trust for their benefit.
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You’ve worked hard over the years to accumulate wealth, and you probably find it comforting to know that after your death the assets you leave behind will continue to be a source of support for your family, friends, and the causes that are important to you. But to ensure that your legacy reaches your heirs as you intend, you must make the proper arrangements now.
There are four basic ways to leave a legacy: (1) by will, (2) by trust, (3) by beneficiary designation, and (4) by joint ownership arrangements.
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Irrevocable Life Insurance Trust (ILIT)
We buy life insurance for a variety of reasons, but most importantly so that our loved ones are provided for after we pass. But, did you know that as much as 45% of life insurance proceeds can be taken in the form of federal estate tax?
An ILIT (pronounced eye-lit) can insure that your family and loved ones receive 100% of your insurance payout, undiminished by estate taxes.
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Retirement Plans for Small Businesses
If you’re self-employed or own a small busi- ness and you haven’t established a retirement savings plan, what are you waiting for?
A retirement plan can help you and your employees save for the future. And you’ll be in good company-over 1 million small businesses with 100 or fewer employees currently offer workplace retirement savings plans.
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