Legacy Assurance Plan For Estate Planning and the Small Business Person

Legacy Assurance Plan For Estate Planning and the Small Business Person from Legacy Assurance Plan

By: Legacy Assurance Plan  06/14/2016
Keywords: Estate Planning Lawyer, Revocable Living Trusts, Legacy Assurance Plan

Legacy Assurance Plan Of America - Estate planning is important for all people, but it is extremely important for small business owners. A proper plan can help ensure that the business can continue seamlessly and without interruption, can go to the person or people you want, and can separate your business assets from your personal ones to make certain each is properly protected. In 2014, in the U.S. Tax Court, a taxpayer defeated the Internal Revenue Service in an important case called Frank Aragona Trust v. Commissioner. Mr. Aragona had created a trust and named his five children as beneficiaries, and funded the trust with several rental real estate properties. The IRS had tried to classify the trust's control of the properties as "passive" ownership, which would have negative tax consequences, but the Tax Court ruled for the trust, which meant that it got to claim active participation status, which is more tax-friendly.

Keywords: Estate Panning America, Estate Planning Lawyer, Federal Estate Taxes America, Legacy Assurance Plan, Legacy Assurance Plan of America, Revocable Living Trusts,

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