A Net Income with Makeup Charitable Remainder Unitrust (NIMCRUT) is a unique wealth planning strategy and is an effective means to maximize after-tax returns, as well as benefiting charities in certain circumstances common to high net-worth families and individuals. This article outlines some ideal circumstances and illustrates the significant difference this strategy can produce to sustain wealth while also benefiting a donor's chosen charity upon death.
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As the owner of a closely held business, proper planning will ensure that, if something happens to you, your business interest is transferred according to wishes. Having a buy-sell agreement in place is only half the battle. Funding your agreement ensures that there is money available to purchase a departing owner’s business interest in the event of death, disability, retirement, or other circumstance. When considering and comparing the various funding options available, life insurance is often ideal.
The trend of private equity (PE) firms seeking high returns in health care has been in full bloom for more than a decade. But whereas previously PE was focused on a top-down approach of buying hospitals and health systems, that focus has begun to shift toward less-costly smaller specialty groups and physician practices. With increased segmentation across the health care industry, the PE involvement in core hospital service is growing and shifting.
When COVID hit, many business owners faced the dire realization that the insurance they paid so much for did not cover the business interruption resulting from the pandemic exposures. To help guard against that type of unexpected disruption in the future, many business owners have set up captives—a lucrative alternative risk financing structure—to navigate the risk and insurance challenges they face.
For the charitably inclined individuals and families who are exploring ways to reduce their tax expose and maximize their charitable impact in 2022, there are eight tax-smart tips for charitable giving in 2022.
Digital assets have the potential to start (or perhaps already are) significantly altering the global financial landscape. Find out how and get insights on the why from guest Geron Morgan at BKD. Here's what's covered: Who is Geron Morgan? @00:17Trends in digital assets @01:27Audit considerations @04:05Internal controls and digital assets @06:45Recent events and Executive Order @10:31Tips to learn more about digital assets @14:40
A meaningful wealth planning strategy embodies your vision, hopes, and personality, all to ensure you are financially well situated over your lifetime. By developing a solid blueprint, you can provide yourself and your loved ones with a secure future. First, begin with making sure your foundation is strong, then ask yourself what you are trying to achieve with your wealth. From there, gather and consider the different building blocks you have to work with.
Three out of four businesses will change hands over the next 10 years. The question is whether this sale and change in ownership will be on the owner’s terms or if the business will fall victim to the four Ds: divorce, death, disability, and dispute. Embracing an exit planning from the early stages of the enterprise lifecycle will help mitigate the risks associated with the four Ds.
Over the past decade, the Tennessee legislature has taken significant actions to provide a more practical statutory framework for trust administration. With the latest enhancements to the Tennessee's Uniform Trust Code, key revisions include changes to petition for approval of final accounting, discharge of fiduciary liability upon change of trustee or termination of trust, and liberalization of technical aspects of trust decanting.
New regulations proposed by the IRS seek to address the basic exclusion amount for estate and gift taxes which was doubled in 2017 under the Tax Cuts and Jobs Act. The doubling of the exemption is scheduled to sunset on January 1, 2026. When this occurs, how can a donor lock in the increased exemption for years 2018 through 2025? New proposed regulations issued April 27, 2022, provide some insights to possible solutions.