IRS could take away key estate planning tactic

Partnerships and LLCs allow families to pass on assets such as minority shares in a family business to heirs in a tax-efficient way. It’s a popular estate planning tactic because the transfer of assets deemed illiquid receive a discount on the value of the asset. Here’s how this works. You have a family business and…

Read more

Does your college-bound child need an estate plan?

Most people wouldn’t necessarily think of their 18 year old child as an adult but in the eyes of the law, with few exceptions, he or she is. A handful of states require graduation from high school or reaching 19 years of age.  Mississippi doesn’t consider someone fully adult until they reach 21.  But everywhere else, including…

Read more