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The Importance of Succession Planning

May 17, 2019

Why is Succession Planning Important in the Running of a Family Business Ironically, Companies pour considerable resources into marketing, research and development, information technology and personnel development, but fail to plan for the succession of the company. It is extremely important to have a succession plan in place, and to communicate that plan to the… Read more »

Successfully Transferring a Small Business

May 16, 2019

There are four primary goals of a successful transfer: Generating sufficient financial reserves for the owner’s retirement after active involvement in the business ends. Transferring the business intact (and for its maximum value if sold to a third party) to the owner’s chosen beneficiaries Minimizing the cost of transfer Providing sufficient liquidity to pay the… Read more »

Venture Capital Disputes: What to Expect in Your Case

May 10, 2019

Were you recently involved in the launch of a product or business? Were you the one who supplied the majority of the funds? If you feel that you have not received your full share of the profits that you were promised, you can take action.  This is also true if you have not even received… Read more »

Why You Need Representation in Tax Court

May 10, 2019

Do you have a dispute with the IRS that’s headed to tax court? Don’t try to take on the IRS on your own. You need to work with tax lawyers in Chicago like Anthony J. Madonia & Associates. If your tax dispute is headed to tax court, it means you’ve exhausted all other options. As… Read more »

Investment Strategies

April 15, 2019

Does My Investment Strategy Depend on my Age? Age is definitely one factor that is considered in a risk analysis when discussing investment strategy. Some have used a rule of thumb called the “rule of 100.” That involves subtracting your current age from 100. If you are 70 years old, for example, the resulting number… Read more »

Keeping the Business in the Family

April 11, 2019

Buy/Sell Agreement to Ensure Your Business Stays in the Family A buy/sell agreement is the best way to ensure the business goes to your family, along with a source to fund the transfer of the business to them. Normally, the company carries enough insurance to allow the company to either buy out non-family members or… Read more »

Buy/Sell Agreements

April 11, 2019

Is a Buy/Sell Agreement Needed for Any Reason Other Than the Death of an Owner? While it is critical that buy/sell agreements provide for the successful transfer of a business owner’s interest in the business after his or her death, it is equally important that the agreement take into account other critical life events such… Read more »

The Two Types of Charitable Remainder Trusts and How They Differ

March 29, 2019

The two basic types of the charitable remainder trust are the charitable remainder annuity trust (CRAT) and the charitable remainder unitrust (CRUT).  Both the CRAT and the CRUT are irrevocable trusts which provide for an annual payment to a non-charitable beneficiary or beneficiaries (usually including the trust maker or the trust maker’s spouse), with the… Read more »

What is a Charitable Remainder Trust?

March 28, 2019

A charitable remainder trust (CRT) is a trust that includes two separate and distinct “beneficial interests,” also known as “split interests.” This means that two different entities have an interest in the assets of the trust. These two interests are the “income interest” (income stream beneficiary) and the “remainder interest” (beneficiary of whatever assets remain… Read more »

Mergers and Acquisitions: What to Do Next?

March 15, 2019

Mergers and acquisitions (M&A) is an overarching term used to describe the combining of two corporations to make one large company. The reason for such a coming together varies but sometimes may be the result of one business attempting to cut its cost of operation by joining with another, more stable, corporation. It is certainly… Read more »

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