Von Baron Wealth Management

Using Trusts to Gift Your Business Using trusts to gift your business is a technique whereby, rather than gift your business directly to your beneficiaries, you transfer ownership of your business to a trust and then name your children, grandchildren, or others as the beneficiaries of the trust. The entire business may be transferred...

Deductions: Moving Expenses In general, the deduction for moving expenses has been permanently suspended. The similar exclusion for qualified moving expense reimbursement has also been permanently suspended. However, both provisions may still be available for a member of the U.S. armed forces on active duty who moves pursuant....

Beyond Traditional Asset Classes: Exploring Alternatives Explore alternative asset classes beyond stocks, bonds, and cash.

Tax Credits for Energy-Saving Home Improvements Previous legislation created and occasionally modified and extended two personal nonrefundable tax credits for home improvements that save energy; the nonbusiness energy property credit and the residential energy-efficient property credit. The Inflation Reduction Act of 2022 has replaced those credi...

How can I figure out my net worth? The first step in the financial planning process should be to calculate your net worth.

403(b) Plan Section 403(b) of the Internal Revenue Code (IRC) describes a special type of defined contribution retirement plan available only to public schools, tax-exempt organizations, and certain ministers. Section 403(b) provides an exclusion from current income for employer contributions and employee pre-t...

Life Insurance Trust: Revocable A revocable life insurance trust is a trust that is funded, at least in part, by life insurance policies or proceeds. It can be an effective planning tool that provides a source of liquid funds to your estate for the payment of taxes, debts, and expenses. Moreover, it allows you the flexibility to c...

Irrevocable Life Insurance Trust An irrevocable life insurance trust (ILIT), sometimes referred to as a wealth replacement trust, is a trust that is funded, at least in part, by life insurance policies or proceeds. If properly implemented, an ILIT can help minimize estate taxes and provide a source of liquid funds to your estate fo...

Use of Trusts and Creditor Implications Certain types of trusts can protect your assets from future claims of creditors and future lawsuits. Trusts that have this protective feature are often referred to as asset protection trusts. Setting up an asset protection trust is a preventative measure that can keep you from losing your possession...

What is involved in buying a house that's for sale by owner? Generally, the process for buying a house that is for sale by owner is the same as with a real estate agent.