Unintended Consequences

Estate planning for family business owners is big business for many wealth advisors, not only because of the large (and increasing) federal estate tax exemption but also because Congressional leaders perennially raise the possibility of raising estate and gift tax rates or cutting exemptions. Those ever-present human emotions of opportunity and fear seem to be the active ingredients in motivating families to consider transferring their wealth, including the family business, to their descendants. Preserving the business over generations certainly requires, among other ingredients, good estate planning – not adequately preparing for estimated estate taxes can impede the transfer of a… Read more