No one starts a business thinking about what happens when a partner dies, gets hurt, or walks away. But the business owners who plan for those scenarios are the ones who protect everything they’ve built. The time to put a buy-sell in place is before you need it.
Real estate is a capital asset, meaning any profit from its sale is taxed as a capital gain. However, there are special rules unique to real estate that can dramatically reduce what you owe.
If you’ve been named the executor of an estate, the process of “unwinding” a person’s life is a significant legal and financial responsibility. So, we created a step-by-step guide of what to expect when serving as an executor.
Less than 1 in 3 people in the U.S. holds a will, and more than half have no legal protections in place whatsoever. While everyone agrees that an estate plan is essential, why have so few actually followed through? It’s probably because they don’t know where to start.
