At Some Point, The Owner Of A Family-owned Business May Need To Transfer Ownership Instead of selling the business outright to a stranger, it seems best to transfer it to the employees or to family members. Maybe they’ve been loyal, hardworking, and have a real grasp of what it takes to keep the business going:…
DetailsA new year is a time for reflection. Did our lives change last year? Will they be changing in the coming year? We often make resolutions to fix a problem in our lives or make our lives better, but how many of us follow through? One way to start the new year out right is…
DetailsThough we’ve just survived another season of giving filled with carols in the air and presents under the tree, it’s not too late to think about gifts. In fact, certain types of gifting can be useful as a powerful estate planning tool. Gift-giving and estate planning go together like eggnog and sugar cookies. What Does…
DetailsIn the heat of summer, we don’t just protect ourselves with a ball cap or a little zinc oxide on our noses. No, we add extra layers of protection. We avoid dehydration by drinking more water. Too hot to go outside? Head inside for some deliciously cold AC. And sunscreen protects our skin from sunburns…
DetailsJudge Wapner of the television show The People’s Court often told people, “Get it in writing.” That idea – get it in writing – is so true in many situations, even when dealing with someone you love and trust. Estate planning has its fair share of horror stories where vague promises lead to a prolonged…
DetailsBusiness owners have special estate planning needs. After all, they’re not just handing down a pile of cash, the family homestead, and Grandma’s antique armoire. Their companies have customers, vendors, and employees that rely on the company’s continued operation. Even if the owner is incapacitated or passes away, orders must be fulfilled, vendors paid, and…
DetailsYou have many options to consider when developing a great plan for how your property will be distributed after your death. Your attorney may suggest including certain provisions in your Will or creating and funding a trust. Another suggestion may be to use a deed to transfer property to your heirs. If you own real…
DetailsPeople usually have the best intentions when deciding who will get their property after they’re gone. Good estate planning can give a sense of contentment, satisfaction, and peace of mind. But taking a long, hard look at your heirs may cause some people to cringe a little. Can their loved ones really handle getting large…
DetailsThe list of things we put off doing can be long. Sometimes it’s a simple case of procrastination, but we often have other reasons to avoid taking action. Sometimes we just make excuses. This is especially true if we have a big decision to make – like retiring. Reluctant retirees may be concerned about any…
DetailsLots of people own property in more than one state. Some people leave their home base so to speak to spend time in a vacation home. Others like seeing the country from the windows of an RV. And others move South with the seasons. Whether you’re moving for business, excitement, or because you hate snow,…
Details
