Should you transfer wealth during your lifetime or transfer it to heirs after your death? Answering this question can be complicated because many factors are involved. For example, you might want to take advantage of the inflation-adjusted $12.06-million gift and estate tax exemption now, since the exemption amount is scheduled to be cut approximately in half after…
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Retirement Accounts and Your Estate Plan
Successful estate planning generally involves passing on your assets to your heirs at a low tax cost. To help achieve that goal, there are a few things to keep in mind about retirement accounts. Required Minimum Distribution FactsUnder tax law, you cannot keep money in a traditional IRA indefinitely. Eventually, it must be distributed. The amount…
How Intended Uses May Affect an Expert’s Value Conclusion
What is the value of my business? That’s the question every business owner wonders from time to time. But the correct answer varies depending on the purpose of the appraisal. Different rules and “standards of value” may apply depending on how the report will be used. Fair Market ValueIn the United States, the most widely recognized and…