How to Create a Family Business Succession Plan
February 2, 2023
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A frequent complaint by next-generation members is that the senior generation never fully lets go of business tasks.
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How to Transfer Business to the Next Generation
December 12, 2022
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Failing to properly plan for disability, death, or the ultimate transition of a family business can lead to disastrous financial consequences for both the business and the family.
Don’t Miss Out on Estate Planning Opportunities
November 25, 2022
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People often overlook critical steps when they are doing their estate planning.
Can a Family LLC Reduce Estate Taxes?
May 23, 2022
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These vehicles let a family manage multiple interests, preserve parental control and protect assets from claims of creditors and divorcing spouses, among other benefits.
Can a Vacation Home Be Kept in the Family for Generations?
April 21, 2022
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These vacation homes may also comprise a significant portion of the family’s wealth. Therefore, it’s understandable that homeowners want to pass their properties and family traditions to future generations.
How Should I Plan to Sell My Business?
January 24, 2022
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According to the Exit Planning Institute of Ohio, recent studies show that over 60% of the current U.S. business market is owned by baby boomers (those born between 1946 and 1964), who are ready to exit or transition their business over the next 10 years.
Is It Better to Inherit Stock or Cash?
January 14, 2022
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If you’re planning to leave your heirs any sort of inheritance, you’re already giving them a valuable financial leg up.
Succession Plan: How to Avoid a Family Fight over Company
January 12, 2022
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In coming years, millions of Baby Boomers — those born between 1946 and 1964 — are expected to retire in the U.S. In fact, by some estimates nearly a quarter of this country’s population will be aged 65-or-older within a few decades.
What Do I Need in My Estate Plan?
November 12, 2021
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An effective estate plan uses a collection of documents and teamwork to protect one’s assets and personal property. An effective estate plan also explains and carries intentions of how to pass control down to successors in the event of your absence.
What Should Small Business Owners Know about Estate Planning?
October 29, 2021
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Small business owners have their hands overflowing with issues, and they devote most of their time to matters related to the smooth running of the business. Having no time to think about other matters, they do not bother about estate planning for them.
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