Estate planning for an individual is a given, but it is also extremely important for a business. This is increasingly crucial as a result of digital assets that must be included in the estate planning process. Although these may not be as obvious, they are equally important. Knowledgeable estate planning attorneys are extremely beneficial for… Read More »
Blog Posts Page 7
Where Accountants Fall Short With Estate Planning
When thinking about estate planning, most people assume it is what happens when a family member passes away suddenly. This can bring forth common images of insurance policies, legal documents or even litigation associated with will contests. However, the prospect of estate planning for an individual client goes much further than deal with someone’s… Read More »
Entrepreneurs Must Engage In Estate Planning
Entrepreneurs must have a game plan for their immediate future and for their long-term future. For younger entrepreneurs in particular, especially Millennials, deciding on specific actions is the critical step for financial success. Although many financial plans are composed of estate planning, tax planning, money management and investing, each of these various factors will be… Read More »
Do You Have Digital Assets That Should Go into Your Business Estate Plan?
Business owners should already be aware of the benefits of having a comprehensive estate plan, but in the case that you may have made a critical mistake and not protected yourself in this way, you need to schedule a consultation with a business succession attorney immediately. The support of a business succession attorney is crucial… Read More »
My Estate Is in CryptoCurrency- What Now?
Most people assume that their tangible assets, including their retirement plans and their actual assets, including vehicles, property and other forms are the primary components of their estate plan. However, crypto currency has become a major force and there are still major discrepancies when it comes to planning ahead and incorporating crypto currency into your… Read More »
Common Challenges of Baby Boomers Approaching Retirement
Baby boomers who are getting ready to retire have many different concerns including their own financial future and paying for health care in terms of long term care, in addition to ensuring that they have assets set aside to pass on to their loved ones. There is no doubt that estate planning is a common… Read More »
Can I Amend My Trust?
If you already have a trust document put together, you should consider the type of trust that you selected as far as whether or not you’ll be eligible to amend a trust in the future. An irrevocable trust cannot be amended in the future, regardless of the changes you would like to make. Furthermore, it… Read More »
Unplanned Exits from A Franchise
Any business can benefit from a comprehensive business succession plan. That is because most people do not anticipate having to suddenly step out of a company. An unplanned exit could be catastrophic to the business, even one that is reliant on the franchise model. Many franchisors already require that franchisees have a succession plan in… Read More »
Estate Planning for The Remarried Widow
There are financial complexities that come with entering any new marriage, and widows or widowers should be aware of the complexities related to their estate plans as well. According to research completed by the Pew Research Center, approximately half of previously married adults beyond age 65 had remarried, and the number was even higher for… Read More »
What Is a Generous Retirement Plan?
It is important to have a plan not just for how you’ll get to retirement but how you intend to use those funds after you get there. Retirement can be an excellent time to generously give your talents, assets and time. There are some primary things you should consider as you work towards moving into… Read More »
Family Conflict Likely to Be the Biggest Estate Planning Issue Going Forward
Are you worried about sharing estate planning concepts with your family because you’re concerned that someone might not agree with your goals? A recent analysis of professional planners identified that family conflict is perceived to be the biggest threat to the process of estate and financial planning in the future. Although estate tax reform is… Read More »
Couples Must Keep These Estate Planning Tips in Mind
Whether you’ve already tied the knot or have no intention of moving forward with marriage, estate planning is necessary. Parts of your life may already be intertwined and the law and various strategies can be used to help protect you and your loved ones in the future. There are five primary considerations for couples who… Read More »
Simplify Your Financial Life with This Checklist
Planning ahead into the future and looking for retirement and estate planning opportunities can give you peace of mind and also make things easier for your loved ones if you suddenly were to become incapacitated or pass away. A financial planning checklist can make things easier for you now and well into the future. Most… Read More »
Do the Middle Class and Millennials Need Estate Planning Too?
With all of the recent updates to tax laws, some people may be more hesitant than ever to move forward with an estate plan. Every can take advantage of a sit down meeting with a lawyer. Although many people will not be subjected to the federal estate tax and will not have too much of… Read More »
Business Sale Planning Tips
When you are looking forward to the future of your business and ultimately exiting that business in order to accomplish other goals, such as retiring or if you’ve simply gotten bored with the process itself, you need to have these planning tips in the back of your mind. Ultimately, you should approach business succession planning… Read More »
Business Succession Planning for Franchises
You might think it is initially annoying when a franchiser requests or requires that you as a franchisee maintain a succession plan. However, this is a win-win situation. All parties will be able to work together on business contingency plan that can benefit everyone in the event of a sudden departure in a franchise business…. Read More »
What You Need to Know About Contingency Buy Sell Agreements
Many business owners don’t want to think about what will happen to their company if they were suddenly unable to be there because of death or disability. Many owners realize that they are key to the organization and that without appropriate business succession planning, that the company would be in real trouble overnight if there… Read More »
Should You Take Your RMDs Earlier in The Year?
Many people put off the process of taking their required minimum distributions until closer to the end of the year. This is particularly problematic, however, if the party who is required to take those minimum distributions, passes away if the beneficiaries have a small period in which to take the year of death required minimum… Read More »
Tips for Selling Your Business Without Dealing with The Capital Gains Tax
More small businesses have been sold in recent months because of the increase in the economy and the rising number of investors who are looking to diversify their portfolio. People with investment capital are now looking for positive investments outside of the stock market. Building on a successful business enterprise is one form of alternative… Read More »
Is Your Living Trust Not Appropriately Funded?
A living trust is only beneficial to you if it has been properly funded. The establishment of a revocable living trust has become of increasing importance in recent years as more people seek to have a privacy in their estate and to avoid probate. However, if you fail to transfer the title of the assets… Read More »