Over the last few years, Democratic leadership has been calling for increased federal taxes on corporations and wealthy individuals. Now that they have the White House and majorities in the House and Senate, their tax increases are more likely to pass. According to...
Is your estate plan going to fail?
Even well-drafted estate plans can fail, meaning they fail to achieve your goals when the time comes. Those goals are generally 1) to distribute your assets to your heirs and beneficiaries; 2) to pay your creditors and taxes; 3) to prevent undue losses of assets or...
Do you need a business succession plan right now?
It may feel like you should limit your expenses right now, as the economy continues to struggle. Sure, a business succession plan would be nice to have, you might think, but surely you can wait until more favorable circumstances arise. The problem is, you could end up...
Protect your assets from rising taxes with these 3 options
If you make over $400,000 a year or have a sizeable estate, you may be worried that taxes could go up soon. Although it’s hard to say what Congress might do, increases in capital gains taxes and estate taxes, along with a reduction in the estate and gift tax...
It is crucial to carry sufficient UM/UIM insurance in Texas
What happens if you are injured in a car accident, but the at-fault driver doesn’t have enough insurance to cover your losses? Your own auto insurance policy pays -- to the limit of the policy. In Texas, a certain amount of uninsured/underinsured (UM/UIM) coverage is...
Could a complex trust reduce your capital gains taxes?
If you’re planning to sell your business or some of your assets this year, you may want to set up a complex trust. Doing so could eliminate the capital gains you might otherwise be expected to pay. There are a couple of traditional ways to reduce or defer capital...
