With New IRS Regulations Looming, What Should You Do Now?
Depending on your circumstances, some options are going to be a better fit than others, and I want to make sure you get the best outcome possible. Some of these “freezing” techniques involve the use of a family business entity to own and operate your family fortune, in combination with one or more special tax-saving trusts. These plans provide numerous benefits including asset protection, divorce protection, centralized management of assets, and more – in addition to the tax savings.
Unfortunately, these types of plans can take 2-3 months to fully implement and time is running short.
So, here’s your action plan
First, schedule an appointment with me as soon as possible. I’d like to get a time on the calendar so that I can take a look at the options that are available to you under current law between now and the end of this year.
Second, find your estate planning portfolio and take a look at it. You might have a graphic summary or some other type of summary. Regardless of who prepared your plan, now’s a great time to review your plan.
When we meet, I want to make sure that anything we do to help you protect your family’s inheritance from the IRS still achieves your overall planning goals – and not just the tax-saving goals.
Our firm is available to assist you with the immediate implementation of your wealth transfer plan using valuation discounts that are still available under current law. Please call our office now.