Overview For decades, companies have used corporately owned ("entity owned") life insurance to "buy-out" the share of a deceased partner. The insurance policy was not viewed as an asset of the company and, therefore, did not affect the estate's valuation for estate...
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How Does the “Big Beautiful Bill” Impact My Estate Planning?
The recently enacted federal tax legislation, informally referred to as the “Big Beautiful Bill”, has significantly expanded the federal estate tax exemption. Because of this, traditional tools designed to reduce estate taxes such as credit shelter trusts may...
Important Tax Changes to Know for 2024
As we enter the new tax year, it's crucial to stay informed about significant tax changes that may impact your financial planning. Here are some important tax updates for 2024: Increased Standard Deduction: The standard deduction has been increased for all filing...