Estate plans are created for a variety of reasons, but they arent just about distributing your assets. First and foremost, you want the security of knowing that you have provided for your loved ones and minimized the legal issues and financialMoreEstate plans are created for a variety of reasons, but they arent just about distributing your assets. First and foremost, you want the security of knowing that you have provided for your loved ones and minimized the legal issues and financial insecurity they might otherwise face upon your death.
As a business owner, you need a plan for business succession or transition and have a unique set of considerations to take into account. You may even want to leave a charitable economic legacy. In any event, your estate plan should be tailored to fit your personal situation.With a special emphasis on business owners, W. Rod Stern covers: Wills, living trusts, gifts, charitable trusts and moreThe pros and cons of probateHow to transition your business so your heirs can benefitSelecting trustees and guardiansReducing estate taxesLong-term asset managementBegin now, and design an estate plan that protects both your family and your business.Sample documents include: Simplified Sample WillSimplified Sample Family TrustFinancial Summary WorksheetTotal Assets and Liabilities WorksheetYour Family Documentation WorksheetAsset Value TestIncome and Expense TestCalculating Life Insurance NeedsTax Impact of GiftingCommon Distribution Provisions for Wills and RrustsIRS Publication 950 Introduction to Estate and Gift TaxesIRS Publication 706 U.S.
Estate Tax ReturnIRS Publication 709 U.S. Gift Tax ReturnIRS Publication 1041 U.S. Income Tax Return for Estates and TrustsSchedule K1, 1041 Beneficiarys Share of Income, Deductions, Credits, etc.For 30 years, Entrepreneur has provided the most trusted business advice available to business owners. Our legal guides continue that tradition by offering current and cost-effective legal advice so you can resolve the business and legal issues you face on a daily basis. We also strive to help you identify when its in your best interest to seek the personalized advice and services of a practicing lawyer.