If you are considering drawing up an estate plan — and if you don’t already have one, you should be — there are a number of questions you will need to ask yourself, and some of them may make you squirm. For one thing, you have to start thinking seriously about your mortality. Or about [...]
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Baby boomers are expected to leave $30 trillion to their heirs in the next 30 to 40 years. That’s a lot of rich kids in the making. But if you are one of those who has a large estate and is planning to leave it to your kids, when do you tell them what they [...]
The family limited partnership was a fairly unusual way for wealthy families to manage their real estate and various financial accounts. But this year it is coming back into fashion. Why? The reason this esoteric and rather arcane estate planning device has once again become popular is because of the scheduled end of the $5.12 [...]
Whether or not Republican presidential nominee Mitt Romney ultimately wins the election, one thing is clear: he is an expert in using strategies allowed under the law to avoid paying taxes. According to tax returns released to the public, Romney, who has five sons and 18 grandchildren, set up a family trust as the core [...]