Print   Close

1st Quarter, 2014
Life and Legacy Advisor
In this issue...
Article One Title
Dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea consequat.

Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Read more »

Article Two Title
Dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea consequat.

Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Read more »

Huck Bouma in Brief

Dolor sit amet, volutpa consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Est wisi enim ad minim puella veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodoo.
















Please contact us at
(630) 682-0700
attorneys@huckbouma.com

And visit our website,
www.huckbouma.com.
Follow us on:
©2014 Huck Bouma PC. All rights reserved. 1755 South Naperville Road, Suite 200 Wheaton IL 60189
If you wish to opt-out of future email communication, please click on the unsubscribe link below.

Privacy Policy
Important Estate Planning Tips You Should Act on Now

Like all things, tax laws are constantly changing. Together, we need to respond quickly and strategically to the new developments in the tax law landscape. While you shouldn’t wait to review your estate plan in light of the passing of the Tax Cuts and Jobs Act (TCJA), making a knee-jerk reaction is rarely the best course of action, either.
 
The best decisions are made when we carefully analyze all angles of your estate to come up with the best strategy for you and your family. The law’s benefits will accrue most for those who take a proactive approach rather than those who wait until the last minute. Here are several reasons the tax changes need to be top-of-mind:
The new tax developments are especially pertinent to you if you’re a business owner. With the possible 20% income tax deduction for pass-through entities, you’ll want to review entity selection for your business operations as soon as possible. Now is also the time to consider gifting of interests to reduce the limitations inherent in the qualifying business income calculation and to utilize the increased gift tax exemption.
 
If you have a “specified service business” as an attorney, doctor, dentist, or consultant, it may make sense to separate any “non-service” businesses out of your service business, such as real estate or clerical activity. Utilizing multiple trusts may also help you achieve a larger QBI (qualifying business income) deduction.
 
Don’t Just Think About Taxes!
 
The implications of the TCJA go much further than taxes alone. You will always need an estate plan that takes a thoughtful approach to asset protection, privacy, retaining control, avoiding issues like guardianship and probate, and ensuring that your loved ones are cared for in years to come. These aspects of estate and financial planning are constant regardless of fluctuations of tax reform.
 
Collaboration will us, as your estate planners, is critical for long-term success. We’re ready to help you plan for whatever comes next. Give us a call to set up a chat today about how we can fully protect you and your family.