Estate planning is a critical aspect of financial management. It ensures that a third party distributes your assets after your passing. The byproduct of estate planning is various legal documents. These may include wills, trusts, powers of attorney, and beneficiary...
Transferring your family business is often a large process for small business owners. Having an effective succession plan in place helps avoid many of the potential pitfalls in the transition. Whether you are ready to retire or plan to be a part of the business until...
Many small business owners spend a lifetime building their business. But many fail to plan the transition of their business. This transition process is known as succession planning. It can be difficult for an owner to decide whether to sell, dissolve, or transfer the...
Family-owned businesses are frequently a part of estate and succession planning. As a business owner, your family business is often one of the largest assets in your estate. If you are gifting or transferring ownership, particularly for closely-held businesses, a...
With the current market volatility and economic downturn, many individuals are wondering how this economic crisis will affect their business, assets, and retirement. With all the uncertainty, we want to focus on an aspect that is certain. While estate planning may not...
Most business owners have between 80-90% of their personal net worth tied up in the company they own – one highly non-liquid asset. Not only does this make estate planning difficult, but it also exposes the financial legacy you want to leave behind to your...
