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Estate Planning, Wills and Trusts

Estate Planning, Wills and Trusts For Business Owners and Entrepreneurs

Author: W. Rod Stern
Publisher: Entrepreneur Press
ISBN: 9781599180946
Published In: April 2007
Format: Hardback , 320 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Author

Details

Introduction

Focuses on business owners rather than individuals
Up-to-date with the newest tax codes, and inheritance laws
CD-ROM includes all necessary forms

About the book

Estate plans are created for a variety of reasons, but they aren't just about distributing your assets. First and foremost, you want the security of knowing that you have provided for your loved ones and minimized the legal issues and financial insecurity they might otherwise face upon your death. As a business owner, you need a plan for business succession or transition and have a unique set of considerations to take into account. You may even want to leave a charitable economic legacy. In any event, your estate plan should be tailored to fit your personal situation.

With a special emphasis on business owners, W. Rod Stern covers:

Wills, living trusts, gifts, charitable trusts and more
The pros and cons of probate
How to transition your business so your heirs can benefit
Selecting trustees and guardians
Reducing estate taxes
Long-term asset management

Begin now, and design an estate plan that protects both your family and your business.

Sample documents include:

Simplified Sample Will
Simplified Sample Family Trust
Financial Summary Worksheet
Total Assets and Liabilities Worksheet
Your Family Documentation Worksheet
Asset Value Test
Income and Expense Test
Calculating Life Insurance Needs
Tax Impact of Gifting
Common Distribution Provisions for Wills and Rrusts
IRS Publication 950 Introduction to Estate and Gift Taxes
IRS Publication 706 U.S. Estate Tax Return
IRS Publication 709 U.S. Gift Tax Return
IRS Publication 1041 U.S. Income Tax Return for Estates and Trusts
Schedule K1, 1041 Beneficiary's Share of Income, Deductions, Credits, etc.

For 30 years, Entrepreneur has provided the most trusted business advice available to business owners. Our legal guides continue that tradition by offering current and cost-effective legal advice so you can resolve the business and legal issues you face on a daily basis. We also strive to help you identify when it's in your best interest to seek the personalized advice and services of a practicing lawyer.

W. Rod Stern is a partner with Murtaugh Meyer Nelson & Treglia, LLP, has more than 20 years of experience designing estate plans. He holds a law degree from UC Hastings and a master's degree in taxation from NYU.