Estate Planning and Business Succession
We are excited to announce that iVLG will now be serving the Tacoma business community. In an effort to expand the territory we cover and the businesses we able to serve, we have opened an office in Tacoma. Our Tacoma office will offer the same quality services as our current inVigor Law Group offices, as well as the same transparent flat fees and accessible attorneys. Tacoma clients will work primarily with Ryan Hogaboam, who is Of Counsel to inVigor Law Group. Want to get to know Ryan a… Read the rest
Many people avoid the estate planning discussion for a variety of reasons—no one wants to think about dying, many are reluctant to analyze personal financials and assets, and with so many changes scheduled to occur in early 2013, why not just wait? The excuses are never-ending. The bottom line is that at some point we will pass away, and at that time, what will happen to your estate? What are the estate-tax consequences of passing your assets to your loved ones?
Today’s post highlights a way that couples can maximize federal estate-tax savings without costly predeath… Read the rest
News Corporation Splitting Into Two Companies
Rupert Murdoch has confirmed that News Corporation, a $54 billion media company, will be splitting into two different entities. The existing company will retain the news-related assets of the company, while the new company will focus on the entertainment-related assets of the company including FX and Fox News (yes, it seems that News Corporation execs categorize Fox News as primarily entertainment, and not news). The split will be completed in the next year. News Corporation shareholders are expected to receive one share of the… Read the rest
A Wall Street Journal article discussed the often ineffective nature of a living will. A living will is a document that details your wishes for medical treatment and life-sustaining or prolonging procedures. The problem with these simple documents is that spelling out medical treatment has become increasingly difficult due to advances in life-saving technology, and doctors’ increasing inability to accurately predict quality of life or consequences of certain medical procedures. Today’s post details the basics of a living will, and explores some of the advantages and disadvantages of not having a living will.
What… Read the rest
Perhaps you’ve heard the term “revocable living trust.” Its ever-increasing popularity has made it a frequent topic of conversation among tax and estate planners. As daunting and complicated as the term may sound, the process of creating a revocable living trust is actually quite simple. This type of trust allows you to transfer ownership of your assets to the trust while still giving you the right to possess and use your assets while you’re living. Furthermore, these trusts enable you to ensure your estate does not pass through probate upon… Read the rest
Not Just a Tool For the Wealthy
The common estate planning misconception about trusts is that they are instruments used only by and designed only for the wealthy. While commonly used by such individuals, trusts can be an important estate planning and asset management tool that can be used by any individual who is seeking to maximize asset protection. Depending on your objectives, a trust can be one of the simplest ways to ensure your estate, no matter what size, is properly distributed according to your wishes. Today’s article will focus on some common types… Read the rest