Business Planning Must Occur Because Of Digital Assets

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 »

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 »

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 »

Five Reasons Business Planning Matters for Succession Purposes

Looking ahead into the future is important for individual estate planning purposes but you can also benefit from planning ahead for your business. Your personal estate should certainly be documented in strategies and in documents aligned with your individual needs. But your business also needs a plan too. Estate planning benefits businesses in five distinct… Read More »

Assess the Family Business Culture to Move Forward

There are many different challenges currently facing family businesses around the United States today. One of the most alarming statistics for family business owners is that as few as 3% of family owned companies will ever make it to a fourth generation. While it is important to think about the financial future of the business,… Read More »

Estate Planning vs. Business Transition

Many people confuse estate planning with business transition . They are actually quite different. View image | gettyimages.com According to a story on columbustelegram.com, estate planning involves the transfer of wealth and assets of an individual, both personal and business related, from one person to another person or entity. Business transition involves the transfer of… Read More »

Estate Planning Asset Protection

Once you begin to accumulate substantial wealth, you have to start worrying about protecting it from potential creditors. There are various tools to help do this, whether it be for protecting your business or your personal assets. View image | gettyimages.com Potential creditors are everywhere: the taxman, accident victims, health care providers, credit card companies… Read More »

Business Owners Need Estate Plans

Basic estate planning, including products such as credit-shelter trusts and life insurance, may be sufficient for many business owners. But in some cases, more sophisticated strategies may be needed. View image | gettyimages.com A story on Forbes says more complicated situations may need strategies such as sel-canceling installment notes, granter retained annuity trusts, and remainder… Read More »

Five Pitfalls In Business Planning

If you are going to run a business, you must have a business plan. But there are several potentially fatal flaws that can come back to bite you and cause your plan to fail. The five mistakes, according to an article on CBSNews.com, are: 1)  Getting too attached to an idea. You may think your… Read More »