Business planning has an important companion…personal planning. Florida Statutes and the federal tax laws automatically have in place for everyone a plan for the disposition of assets and property as well as the corresponding tax costs. It is suggested that this default “plan” is not a plan you would knowingly and intentionally structure for yourself.
The obvious alternative is to carefully prepare your own plan…and properly document that plan. Special consideration is necessary for your assets: life insurance, pension benefits, jointly owned interests, business interests, prenuptial agreements and other unique assets. In the context of family dynamics, there is also an important focus on estate and gift transfer tax considerations
The obvious alternative is to carefully prepare your own plan…and properly document that plan. Special consideration is necessary for your assets: life insurance, pension benefits, jointly owned interests, business interests, prenuptial agreements and other unique assets. In the context of family dynamics, there is also an important focus on estate and gift transfer tax considerations