Category: Estate & Tax Planning

Special Needs Trusts for People Without Special Needs? »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… To subscribe to the newsletter CLICK HERE Would it surprise you if your professional advisor recommended “special needs” planning when you don’t have any special needs children or grandchildren? It’s important to think about things that might happen to your loved ones […]

Gifting Strategies for the Family Business »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… To subscribe to the newsletter CLICK HERE Every day in America there are stories of families losing their multi-generational business or family farm because they had to liquidate in order to pay estate taxes. Most estate planners strive to reduce the impact […]

The Problem with Entrepreneurs »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… To subscribe to the newsletter CLICK HERE According to the Small Business Administration, about 90% of all US businesses are family-owned or controlled. Yet, approximately 70% of these businesses will not pass successfully to the second generation, 85% won’t make it successfully […]

Planning for the Family Vacation Spot – Part 2 »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… In our last newsletter, we discussed some of the problems that can arise from joint ownership of cabin or vacation property. Creditor issues, asset protection, management, expense reimbursement, capital improvements and decisions over who uses the property and when, all can prove […]

Planning for the Family Vacation Spot »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… Your family cabin, cottage, or vacation home may be one of your most significant financial assets. It is also likely to be the one with the most enduring memories and emotional ties. The property may have been in your family for decades […]

Special Uses of Life Insurance for Business Owners »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… To subscribe to the newsletter CLICK HERE John and Betty Smith own a successful family business that was recently appraised at a value exceeding $15,000,000. While they’re extremely happy about their success, the appraisal results have raised some new concerns. For one […]

Divorcing Children and Asset Protection »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… The statistics are startling. 40% or more of all first marriages today end in divorce. The figures for second and third marriages are even higher. For parents, it is difficult to watch children or grandchildren go through a failed marriage. But even worse might […]

Passing on the Rapidly-Growing Business »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… To subscribe to the newsletter CLICK HERE A GRAT (Grantor Retained Annuity Trust) is a gift of a remainder interest in a trust, which, because the donor retains an annuity interest for a term of years, has a reduced value for gift […]

The Benefits of Integrated Wealth Planning »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… To subscribe to the newsletter CLICK HERE Many people think of “wealth planning” or “estate planning” as being completely separate and distinct from “business planning.” However, the opposite is actually true. It’s important for the two types of planning to be integrated […]

Disputes With Children Not Involved in the Business »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… To subscribe to the newsletter CLICK HERE It seems that most parents want to treat their children fairly and equitably. In the case of family businesses the simple division of the business into equal shares is usually neither fair nor equitable. Dealing […]