What Conditions Must Be Met to Fix the Value of YourBusiness for Estate Tax Purposes?If certain conditions are met, a binding buy-sell agreement may fix the valueof a business interest for estate tax purposes. The purchase price, whether afixed amount or one determined by a formula, can be accepted as the estatetax valuation if these […]
The article highlights a close friend of many years, Mr. Gary Scholnick. We have collaborated for many years and hold each other in the highest regard. Life Insurance is for the Living Advanced Income Strategies with Gary Scholnick We have sold life insurance for 30+ years. In each instance, there was fear of dying too […]
perm insurance wsj
The ruts It’s not an accident that dirt roads end up with deep ruts on them, that moguls on hills get steeper and that we find ourselves slipping back into the very things that exhaust us at work. Once the pattern starts to be grooved, we repeat it, which only makes the groove ever deeper. […]
Do You Know What a Forced Liquidation Can Do to the Valueof Your Business?If liquidation is forced on a disabled business owner or on the executor of adeceased business owner, it can quickly become public knowledge that thereis pressure to dispose of the business, and these results can be anticipated: Sale of business assets at […]
UPDATE With a properly structured estate plan, spouses may give away a total of $23,160,000 to their children federal estate tax free. Federal estate taxes are equal to 40% of the amount left in excess of the applicable exclusion amount. The law could change in 2026 to $3,500,000 per decedent. Illinois has an […]