Category: Estate & Tax Planning

When a Business Owner Dies without Planning »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… To subscribe to the newsletter CLICK HERE Most often, when sole proprietors die without estate planning, their business dies with them. Whatever value they once had dissipates until the only value is the inventory and office furniture. When a partner dies without […]

Caring for the Child who does not work in 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 If business owner clients desire that each child receives an equal dollar value at their passing, there are essentially two ways of making that happen. One way is to leave only non-business assets to the […]

Take Me Out to The Ball Game »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… To subscribe to the newsletter CLICK HERE It’s summer and time for baseball. You might ask what that has to do with estate planning and we intend to answer that question. In this issue of our newsletter we will look at the […]

The Top Ten »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… A colleague of ours recently assembled a list of the top 10 estate planning issues. This list is a great tool to assure that nothing is overlooked. All of them can be dealt with a little thoughtful consideration. They can also create […]

Truth Is Stranger Than Fiction »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… This story is based on a real case involving a man who created a solid plan for his estate that, unfortunately, went completely wrong. Here is what happened. In 2005, Tim Donovan, owner of Optimum Manufacturing, created a will leaving everything except […]

I Will Always Love You »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… Whitney Houston, the famous pop diva, had a big hit with “I Will Always Love You”. Apparently that love did not extend to Whitney’s stepmother. When Whitney’s father, John, was alive he made Whitney the beneficiary of a $1,000,000 life insurance policy […]

Planning for Minor Children »

CLICK HERE to return to the website Gary Fitzgerald’s Newsletter, Let’s Talk About…… Some of our clients are young parents. Often times as they start out in life they have a small home or condominium and a large mortgage to go with it. They have not yet had time to accumulate a large pool of […]

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 […]

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 […]