P. Haans Mulder

Partner

Family Business Succession and Estate Tax Planning: The Window May Be Closing

In the recent bills to change the tax code, there’s an effort to prohibit planning that’s very beneficial to passing a family business to the next generation. This planning has become known as an installment sale to a grantor trust. This is how it works. G1 (the current owners of the family business) form one …

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The Train Is At the Station: Changes to the Estate and Gift Tax Introduced in Congress

Since the Georgia Senate election and Democrats gaining enough votes to pass tax legislation on their own, it’s been anticipated that changes will be coming to the estate/gift tax. Vermont Senator Bernie Sanders has now introduced a bill that would do just that and make significant changes to these laws. The bill would lower the …

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Keeping The Family Cottage Affordable For The Next Generation

One of the biggest barriers to passing a cottage to your children is affordability and more specifically property taxes. If transferring a cottage isn’t done in certain ways, the property taxes will be adjusted to the current value (or “uncapped” as we call it). This could result in a small change, but it more often …

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Don’t Forget What’s Important to You When Doing Your Estate Plan

More than half of people in the United States give to charitable and faith-based organizations during their lives. However, it’s estimated that less than 10% leave a portion of their estate to these organizations when they pass away. It’s not known why there’s such a difference between these two time periods. Regardless of the reason, …

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Business Owners: You Have Another Option For Charitable Planning

There are a variety of ways to financially support charitable organizations and their causes. The most common are giving cash and making out a check. But, other options (i.e. giving appreciated investments like stock, mutual funds, and real estate) are often better for income tax purposes. Business owners have another option because they own privately …

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Is It Time To Start Thinking About Succession Planning For Your Cottage?

Summer is the season for cottages and enjoying lakes. Cottages are places where family and friends enjoy time together and create memories. For many families, cottages are an important part of their relationships and as their children get older, they eventually come back with their own kids. It becomes an experience that can be enjoyed …

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