Mike Harris is the proud owner of a deep-sea fishing boat. Although fishing for tuna and swordfish isn’t his primary line of work, he takes the “Mariner’s Mermaid” out most weekends and often sells his catch. Although Mike considers fishing a sideline occupation, the Internal Revenue Service (IRS) may or may not agree with him. What Mike considers a bona fide business, the IRS may judge a hobby.
The careful planning of an estate requires a great deal of expertise. If you surround yourself with a professional, supportive team as you begin the process, working through its many stages and adjusting your plans over time will assure you—and those you love—that the future will be secure for all.