Estate Planning

Most of us are interested in estate planning (at some point), and owning a business mandates the need to understand the value of your business as part of the planning exercise. A business typically represents a very large, if not the most significant asset on your balance sheet. One of the main goals in the estate planning process is to minimize the tax bill for your heirs. There are many ways to create an estate plan in which you can minimize estate taxes or avoid them altogether.  A Certified Appraiser the IRS recognizes as “qualified” and would approve for estate tax purposes, should determine the value of your business. Our appraiser’s certification and continuing educational practices meet the IRS requirements for a “qualified” and acceptable appraiser.

Finally, it’s important to update the valuation periodically to ensure the value is accurate from when initial planning took place. Estate planning is a continuing process, especially when the value of your business is a significant part of your total assets.