Earmarking the family home — or some portion of it — to fund a Charitable Remainder Trust (CRT) can satisfy philanthropic intent, reduce personal taxes, and generate long-term income. For those with certain needs and desires — coupled with the right set of circumstances and capabilities — this approach could be a better alternative than … Continued
While parents without substantial resources tend to discuss family financial matters with children out of necessity, those with means often avoid the topic. However, even for parents who are in a position to cover all of their family’s financial needs and desires, the provision of an allowance can still be an effective way to have … Continued
Every family is different. Some are very open, sharing details about nearly everything in a loud boisterous manner; others are more reserved and less comfortable revealing personal information. No matter what your family dynamic, there comes a time when it is important to share some details with your adult children or the family members who … Continued
In today’s world of innovation, where one idea could turn a young entrepreneur into an overnight million(billion)aire, it is becoming increasingly common for a financially successful individual to accumulate far more wealth than their living parents ever could. It is in this group of high net worth investors where a unique wealth transfer strategy may … Continued
With Republicans controlling both the White House and Congress, there is an increased likelihood of tax reform legislation hitting the debate floor. Proposals by President Trump and the House Ways and Means Committee appear to support the reduction of marginal tax rates and modification of itemized deductions which will mute the taxable benefits of gifting … Continued
Are you thinking of starting a business but do not have enough capital? Consider creating a family limited partnership (FLP). By pooling funds with family members you can open a business not otherwise possible due to lack of money or experience. In 1956, Warren Buffett pooled funds totaling just $105,000 with seven family members, of … Continued
From Mount Rushmore National Memorial to the Crazy Horse Memorial to the Corn Palace and Wall Drug, South Dakota offers numerous must-see attractions. You might ask what a state with a population of just 858,469 (as of July 1, 2015), less than the population of San Jose, California, the epicenter of the Silicon Valley and … Continued
In June of this year, Microsoft announced plans to acquire LinkedIn for $196 per share in an all cash deal. This is great news for LinkedIn shareholders and this is only one of 32,203 M & A deals announced during 2016 which total value estimated at $3.6 trillion¹. The shareholders of LinkedIn or many other … Continued
The decision to leave a start-up carries with it a host of considerations that differ significantly from the choice to depart from an established public company. Specifically, if you are considering leaving your start-up company, there are important issues surrounding your stock option plan that should be addressed. It is easy to focus solely on … Continued
Since 1993, the federal government has incentivized investment in small businesses through favorable tax treatment in order to keep the economic engine running. Those efforts have proven successful, as small businesses created nearly two million of the roughly three million private-sector jobs generated in 2014 and more than seven million of the 11 million jobs … Continued