Family Dynamic: Resolving the Fear
Parents should be transparent to their children about their wealth and their plans. This may not mean opening all of the parent's financials, but the children should be aware of the extent of the...
View ArticleRaising the Next Generation: Legacy Families
Like most families, financially successful families hope that each of their members in this generation and the next will be successful, happy, healthy, and content. To break cycle of rags to riches to...
View ArticleRaising the Next Generation: Capital Accounts
Generally, the Legacy Family has four capital accounts which it attempts to keep in balance. Those accounts are:1. Financial Capital. This is the money earned as well as the investments under...
View ArticleStructuring the Business for Success: Choice of Entity
In Albuquerque recently, I presented this materials to owners of agribusinesses. In the next several blogs, I share that presentation. In choosing an entity there are seven key factors to...
View ArticleCautionary Tale: Importance of Written Agreements
In the Estate of Emilia W. Olivo, TC Memo 2011-163, the tax court held that an estate could not deduct as a claim against the estate a large amount supposedly owed by the decedent to her son for...
View ArticleAnnual Exclusion Update
Due to indexing of the annual exclusion (amount a donor may transfer tax free per year per donee) for 2013 is $14,000 which is an increase of $1,000 from the $13,000 annual exclusion in 2012. Here are...
View ArticleDonor's Remorse
Many of you made gifts in 2012 to avoid losing the expiring $5 million exemption and the 35% tax rate. With the American Taxpayer Relief Act of 2012, it seems this rush to make gifts was unnecessary in...
View ArticleUnification of Estate and Gift Tax
The American Taxpayer Relief Act of 2012, continues the undification of the gift and estate tax. By unifying the gift and estate tax, Congress has kept the two exemptions the same along with the...
View ArticleReview Will
At the begining a new year is an excellent time to think about the changes in your situation over the past year. As you think about those changes, consider that some of them may affect your estate...
View ArticleScam Alert-2013 Annual Minutes Form
Recently several shareholders, directors and/or officers of corporations have received a notice stating that Oregon requires that this form be completed giving details of the names of the shareholders...
View Article
