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Want to give your property to your Kids Early? Wait just a minute…

The old saying goes “It is better to give with a warm hand,” meaning that it is better to give your property away while you are still there to enjoy the process of giving your property. There is something to be said about the joy that you experience in seeing your children receive your gifts, but is this good advice? Is it best to give your property away while you are living? There are a few things to consider before jumping in and giving all your property away. Estate/ Gift Taxes: Uncle Sam doesn’t care whether you gift your property to your kids while you are living or after you have passed, when it comes to estate and gift tax. As of 2018 there is an $11 million-dollar exemption, meaning

What happens to your business when you die or become disabled?

As a small business owner it is easy to get bogged down in the minutia of the day-to-day. I know, because I am a small business owner too. It’s import, though, to take a step back every once and a while and examine the future of your business. Most small business owners look ahead and plan for the new goals they will hit when they go through the exercise of planning. Have you ever planned what would happen to your business if you were no longer at the helm? This is often overlooked, but it is vital for you to protect what is possibly your greatest asset from your own illness or death. If you have ever dealt with the death of a family member you can probably attest to the difficulty of transf

What Happens to Student Loans After you Die?

What Happens to student loans when you die? Many times people will ask me about what happens to student loans when they die. It is becoming increasingly important as student loans are becoming a larger and larger influence on the financial state of the public. Last year, the total national debt is getting close to a trillion and a half dollars and about eighty billion of this debt is in parent PLUS Loans, meaning that this debt doesn’t just effect the newly graduated. There is no simple answer to what happens to student loans. The true answer is depends, but to give you some guidance on what will happen there are different categories of students loans. The different categories as well as the

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