Many estate plans ultimately fail. The problems are not with the plans. The owners spent a fair amount of time and money preparing and executing the plans. They are sound plans that, if properly executed, would meet the goals. The problems with many estate plans tend to occur in the final stage. One...
Posted to
Retirement Watch
by
Bob Carlson
on
01-23-2009
Filed under:
Filed under: Bob Carson, Estate Planning, IRA Benefits, estates, Estate tax, gifts, Carlson, Bob Carlson, wills, iras, trusts, ira distributions, estate taxes, grandkids, grandchildren, retirement plan, retirement, retirement plans, selling a business
Family limited partnerships have been a key element in many estate plans for decades. The FLP provides an array of benefits to the estate owner, not the least of which are tax reduction plus continuing control of the assets. Those benefits and the popularity of FLPs are why the IRS has been fighting...
Posted to
Retirement Watch
by
Bob Carlson
on
09-26-2008
Filed under:
Filed under: Bob Carson, Estate Planning, estates, Estate tax, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, wills, trusts, homes, estate taxes, grandkids, real estate, grandchildren, retirement, retirement plans, creditor protection, asset protection, business sales, selling a business, family limited partnerships, partnerships
Business owners have unique concerns in addition to the usual estate and retirement planning issues. Business owners fear their heirs might sell or dismantle the business or the wrong people might run it. Those results can be avoided, but the owner must plan carefully and implement the plan . Small business...
Posted to
Retirement Watch
by
Bob Carlson
on
08-28-2008
Filed under:
Filed under: Estate Planning, estates, Estate tax, Carlson, Bob Carlson, income taxes, estate taxes, real estate, retirement plan, retirement, retirement plans, business sales, selling a business, small business
Few small firms survive past the first generation of owners. That is well-known. Most people assume the business failures are due to the inadequacies and mistakes of the owners and managers after the first generation. Yet, at least an equal share of blame goes to the founding owners who do not properly...
Posted to
Retirement Watch
by
Bob Carlson
on
08-21-2008
Filed under:
Filed under: Estate Planning, estates, Estate tax, tax-free gifts, gifts, Carlson, Bob Carlson, wills, income taxes, estate taxes, retirement plan, retirement, retirement plans, business sales, selling a business, small business