| johnk - 12/24/2024 06:43
I can’t buy groceries or pay my light bill with my net worth. It’s mostly meaningless to me. The number at the bottom of my balance sheet is just what the proceeds of my liquidation would be. Well, that and your business partner, the IRS. He’ll want to know what his cut is going to be upon the demise of you and your spouse. One most likely huge benefit of a second term of a Trump presidency, would/will be an extension of his generous estate tax exemptions due to sunset next year. But a person needs to keep track of where they stand in regards to estate tax issues. And that calculation will be based on the final appraisal in your and your spouses estates upon the second to die. So an as accurate as possible assessment of total net worth is necessary to make periodic adjustments to the plan.
Edited by Boone & Crockett 12/24/2024 07:34
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Balance sheet adjustment
