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Planning for changes to the estate tax and the valuation discount for small businesses can be challenging. Here’s how to take advantage of them now.
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The estate tax in the United States is a tax on your right to transfer property to other individuals upon your death, according to the IRS. In other words, when you die, the U.S. government might be entitled to a portion of your assets before the remainder can be passed to your heirs. Not all inherited assets are subject to the estate tax. In fact, the U.S. estate tax only affects the wealthiest households.
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Estate planning attorneys will agree that it is better to die with a properly drafted will, than to die without one. If you don’t have one, consider getting one.
Read MoreMarch 6, 2020 •
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Rising divorce rates among Americans over the age of 50 are causing more conflict in estate planning, new data shows.
Read MoreMarch 5, 2020 •
Estate Planning ![]()
Nobody likes to think about dying. However, it happens whether we prepare for it or not. If you don’t do some advance planning, it can cause even more longer lasting pain and grief, not to mention money and strained relations for your loved ones.
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