Actually receiving an inheritance from someone who has passed away isn’t a taxable event, but how much tax you’ll pay when you take money out of that asset—for example by selling a stock or distributing money from a retirement account—depends on the asset itself. Here’s why. Got a step-up in basis? You’ll owe less tax if you sell. When an heir receives an asset from a decedent, the value of the property must be determined.

There’s more to a business transaction than just tallying up numbers–it’s a complex, three-dimensional idea that requires thoughtful reflection as a business owner. You’ve spent time and energy tenaciously building your business and it’s about to pay off. So, it’s worth thinking about the following factors as you ask yourself “should I sell my business?”

Understanding your investment time horizon is a key component of success in the investment world because it’s the period of time you expect to hold an investment strategy until you’d like the money back. Since the inception of the S&P 500, there have been zero rolling 20-year periods where (if you were invested solely in the S&P 500) you didn’t have more money than when you started.

Tips and challenges for transitioning into retirement  

A Guide for Saving and Investing for Short and Long-Term Goals

Download the PDF version of this checklist: Private Wealth Design Checklist

It sounds like a simple question, but it’s actually pretty difficult to answer: what matters most to you? The most productive charitable giving comes from first determining what your charitable goals are.