Get a second opinion on estate plan

Get a second opinion on estate plan

There is a huge loophole in the tax law concerning the value of certain assets These assets retain their real fair market (intrinsic) value, but enjoy a lower discounted value for tax purposes Sadly, few professionals know how to get the job done

This article is the story of the typical owner (Joe) of a family business who decides it is time to get his estate plan done. Joe, age 63, organized a meeting with his long-time friend and CPA, Chuck, and lawyer, Lenny, who specializes in estate planning.

To start, all agreed Chuck should compute Joe's estate tax liability based on his current wealth. Chuck prepared a worksheet showing all the assets (and their values) owned by Joe, the potential estate tax liability ($4,080,0

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TAGS: Taxes
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