Here’s a brief glance at what you’ll find in the March / April 2017 Estate Planner.
Keeping the family business in the family
Transferring a family business to the next generation requires a delicate balancing act. Estate and succession planning strategies aren’t always compatible, and the older and younger generations often have conflicting interests. This article discusses strategies to resolve these conflicts and transfer the business in a tax-efficient manner. A sidebar explains how an ESOP can provide an effective exit strategy.
Home sweet vacation home: Minimize family strife with smart planning and rules
Vacation home owners know what a relaxing refuge the home can be. However, without a solid plan and ground rules that all family members agree to, conflict and tension may result in a ruined vacation — or worse yet, selling the home. This article details steps to take to minimize potential family squabbles over a vacation home.
Don’t overlook securities laws when planning your estate
For a variety of estate planning and asset management purposes, many affluent families hold their assets in trusts, family investment vehicles or charitable foundations. If assets held in this manner include interests in hedge funds, private equity funds or other “unregistered” securities, it’s important to ensure that the entity is qualified to hold such investments. This article defines an “accredited investor” and “qualified purchaser.”
Estate Planning Red Flag: You missed the 60-day IRA rollover deadline
IRAs and employer plans can provide valuable estate planning benefits. If a person holds an IRA for life, his or her children can stretch out distributions over their lifetimes, maximizing the IRA’s tax-deferred growth and preserving more wealth for loved ones. If a person receives a distribution from an IRA or employer plan, he or she can preserve these benefits by rolling over the funds into a new IRA or plan within 60 days. This brief article explains what happens if the 60-day deadline is missed.