Many family business owners have a hard time imagining their businesses running without them at the helm, but others are look forward to transferring ownership when retirement or a new venture beckons. An aspect that must be addressed is safeguarding the value of the business.
One article, “How to Create a Transferable Family Business,” highlights seven concepts to position your business for sale or transfer by planning now.Read More
One advanced estate planning option, especially for those looking for a regular income, is a GRAT or “Grantor Retained Annuity Trust.” Depending on your goals, these trusts can be an excellent planning tool, even for those without a federally taxable estate.Read More
As we age, the likelihood of being struck by a serious illness or having an accident increases, meaning loved ones could face the difficult decisions that come with a parent’s incapacity or passing. Making sure your family members know your end-of-life preferences and discussing your estate plan can ease everyone’s mind.Read More
Entrepreneurs wouldn’t succeed without their ability to focus all of their energies on their business. It’s often difficult for these personalities to imagine retiring, becoming ill, injured or passing away. Without an effective estate plan that includes a succession plan, their work, staff and families may be placed in jeopardy.Read More
Does your estate plan include donations to not-for-profit organizations who you feel are worthy of your generosity? If so, consider adding a charitable remainder trust to your estate plan. Charitable remainder trusts allow you to enjoy the impact of your largesse while you are alive—and offer excellent tax benefits as well.Read More