Estate Planning for Business Succession

The accumulation of financial resources enables a business owner to become free of credit guarantees, initiate an exit strategy, and empower succession by transferring leadership and control of the business to partners, family members or key manager successors

Learn more and download a free estate planning for succession planning guide.

Unsure where to start or confused about the current upcoming changing in estate tax laws, contact us. 

When are Taxes Going Up on Capital Gains?

2021-08-11T12:31:22-05:00By |Advisor Collaboration, Automotive, Succession Blog, Succession Video Discussions, What is Up With President Biden's Tax Proposals?|

As of August 2021, because Capitol Hill has yet to agree on funding, the timeline is still anyone’s guess. In the Green Book, which is the White House’s policy wish list, their goal is to increase long-term Capital Gains significantly. Even though we can’t speak to the timeline yet, tax increases [...]

What is the Lifetime Gift Tax Exemption and When Will It Be Cut?

2021-08-11T12:22:25-05:00By |Advisor Collaboration, Automotive, Succession Blog, Succession Video Discussions, What is Up With President Biden's Tax Proposals?|

Currently, as of August 2021, the Lifetime Gift Tax Exemption for each individual is about 11.7MM per person, which is the highest in history. This means a married couple could gift about $22.7MM to the next generation tax-free. However, based upon the White House’s wish list of how to fund [...]

What Is Happening with 1031 Exchanges For Real Estate?

2021-08-11T12:16:10-05:00By |Advisor Collaboration, Automotive, Succession Blog, Succession Video Discussions, What is Up With President Biden's Tax Proposals?|

Currently, as of August 2021, a 1031 exchange allows a taxpayer to avoid paying capital gains taxes when selling an investment property by reinvesting the proceeds from the sale, within specific parameters, into another property(s). Up until now, this part of the tax code has been helpful to those selling [...]

What Assets You Should Gift and To Whom?

2021-08-11T12:03:52-05:00By |Advisor Collaboration, Automotive, Succession Blog, Succession Video Discussions, What is Up With President Biden's Tax Proposals?|

Making gifts and considering changes in tax law is one piece of the succession planning puzzle. When working with business owners, we often find that they have had some of the best tax planning money can afford. However, when designing the plan, they let the “Tax Tail Wag the Dog” [...]

How to Gift or Sell an Asset AND Stay in Control

2021-08-11T12:08:50-05:00By |Advisor Collaboration, Automotive, Succession Blog, Succession Video Discussions, What is Up With President Biden's Tax Proposals?|

In our experience, business owners like to stay in control, in control of their business, real estate, and future.  So, when we talk about giving something away, we generally get pushback from our clients.   Ultimately, the goal from a tax perspective; is to keep as much of the wealth and [...]

How to Sell An Asset and Avoid Capital Gains Tax

2021-08-11T12:06:10-05:00By |Advisor Collaboration, Automotive, Succession Blog, Succession Video Discussions, What is Up With President Biden's Tax Proposals?|

Many don't realize, but yes, an asset can be sold and you can avoid Capital Gains tax by leveraging an Intentionally Defective Grantor Trust, also known as an IDGIT.  An IDGIT is a strategy for family businesses who want to keep the company in the family, with no interest in [...]

What Will Your Estate Planning Produce – Gratefulness or Resentment?

2021-07-02T10:19:56-05:00By |Automotive, Succession Blog|

As of July 2021, the lifetime exemption is $11.7M per person and $23.4M per married couple. However, we expect a significant reduction in the lifetime exemption due to President Biden's tax proposals, if not this year, then no later than December 31, 2025. As a result, common questions we are hearing are: How will [...]

Episode 1: What Is Changing in the Areas of Estate Tax?

2021-02-12T16:05:34-06:00By |Advisor Collaboration, Leading Your Business Through Transition, President Biden's Proposed Tax Changes, Succession Video Discussions|

With a change in the President, comes changes in estate tax law. This can provide short term opportunities, as well as a lot of speculation looking into the future. As such, there are many questions and what ifs. To help navigate this unknown environment we have asked our good friends [...]

Video: The Perfect Storm for Estate Planning

2021-01-07T15:42:03-06:00By |Leading Your Business Through Transition, Succession Blog|

2021 feels a lot like a Perfect Storm. A pandemic, political and social unrest, and economic turmoil. Depending upon when you watch this, you may be fretting about how the election will affect your asset portfolio and estate planning. David Weaver shares different estate planning opportunities to consider as well as a few "Gotcha's" [...]

Episode 2: When and/or Should I Gift to the Next Generation?

2021-01-07T15:41:17-06:00By |Advisor Collaboration, President Biden's Proposed Tax Changes|

A common question we hear is “When Should I gift to the Next Generation?” A simple and obvious answer is “when you’re ready.,” However, there are many nuances to consider based upon your situation. In this episode of the “Planning Post Pandemic and Political Unrest: What’s in It for Me,” [...]

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What is Changing In the Areas of Estate Tax?

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Planning Opportunities To Take Advantage of Now

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Leadership in Uncertain Times

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