FIXING THE VALUE OF YOUR BUSINESS FOR ESTATE TAX PURPOSES

What Conditions Must Be Met to Fix the Value of Your Business for Estate Tax Purposes? If certain conditions are met, a binding buy-sell agreement may fix the value of a business interest for estate tax purposes. The purchase price, whether a fixed amount or one determined by a formula, can be accepted as the estate tax valuation if these conditions are met: The buy-sell... Read Article

SOURCES OF FUNDS DURING A DISABILITY

What Sources of Funds May Be Available to Replace Your Earning Power During a Disability? Source Evaluation Savings If you save 10% of your income each year, it will take 10 years to set aside just one year’s income. Borrow What creditor is going to lend money to a disabled income earner? Liquidate Assets Assuming a market exists, a forced liquidation of assets can reduce... Read Article

WHEN A LOVED ONE DIES…

In order to relieve loved ones of additional stress, anxiety and expense at the time of a death in the family, consider recording as much information as possible in advance and providing copies to family members. Using our When a Loved One Dies Life Guide, you’ll be able to record and share the following information: Names and contact information of your professional advisors. Your vital... Read Article

FINANCIAL INDEPENDENCE IN RETIREMENT

How Many People Are Financially Independent During Retirement? Most people want to be financially independent during their retirement years. Government statistics, however, tell a different story. According to the Social Security Administration, of people age 65 and older: 35.8% have incomes under $20,000 28.6% have incomes from $20,000 to $40,000 20.3% have incomes from $40,000 to $75,000 Only 15.3% have incomes in excess of $75,000... Read Article