One of our accounting partners has a client whose father (in his late 80s) owned Manhattan real estate with an approximate value of $18M. Nearly all of his net worth was tied up in this property, which therefore presented the issue of how to cover the estate tax due upon death without having to liquidate the property. We discussed options of how to reduce the father’s taxable estate, by gifting and transferring assets while living, but he had already taken advantage of his lifetime exclusion in a previous property gift to his children.
We’re mid-way through January; have you already lost sight of your New Year’s resolution to take better care of your financial life? Don’t worry – we’re here to help! Below is a document we call “Your World.”
Captive Insurance If your business pays over $100,000 a year in insurance premiums you should read on. This is where the concept of “Captive Insurance” comes into play.
Insuring Your BusinessKevin2020-01-03T11:16:29-05:00
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Dear Clients and Friends, We hope you are safe following Hurricane Helene’s impact in North Carolina. Our team is largely safe, but communication is limited. We appreciate your patience with delayed responses. Thank you for your understanding during this challenging time
Planning for Tomorrow: Importance of Proper Estate Preparation
