Keeping the Business in the Family
April 11, 2019How To Go About Keeping the Business in the Family Many family businesses have enjoyed success for decades, even centuries. Given that family businesses—companies in which two or more family members exercise control, concurrently or sequentially—represent an estimated 85% of the world’s companies, ensuring their longevity is essential. The United States alone has 5.5 million of… Read more »
Buy-Sell Agreements
April 11, 2019Is 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, 2019Charitable Remainder Trusts and How They Differ The two basic types of the charitable remainder trusts are the Charitable Remainder Annuity Trust (CRAT) and the Charitable Remainder UniTrust (CRUT). Both the CRAT and the CRUT are irrevocable trusts. Irrevocable trusts provide for an annual payment to a non-charitable beneficiary or beneficiaries (usually including the trust maker… Read more »
What is a Charitable Remainder Trust?
March 28, 2019Charitable Remainder Trust Is Good for Split Interests A charitable remainder trust (CRT) is an irrevocable trust that generates a potential income stream for you, as the donor to the CRT, or other beneficiaries, with the remainder of the donated assets going to your favorite charity or charities. This charitable giving strategy generates income and can… Read more »
Mergers and Acquisitions: What to Do Next?
March 15, 2019Mergers and Acquisitions Next Steps 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… Read more »
What is the Best Way to Communicate With My Advisory Team?
March 14, 2019What is the Best Way to Communicate With My Advisory Team? It’s Your Financial Advisory Team-You need to find the best way to communicate with them. Who Should Be on Your Team? The answer depends a bit on who you are, what your life situation is and what your goals are. Here are some guidelines:Financial… Read more »
I’ve Created and Funded My Living Trust – What do I Need to do to Maintain It?
February 28, 2019How to Maintain My Living Trust It is simply not enough to create a living trust, no matter how well designed and drafted. You need to maintain the living trust as well. Changes in your personal and financial circumstances, changes in the law, and changes in your attorney’s knowledge and experience, affect the long-term viability… Read more »
Can I Withdraw my Retirement Plan Dollars at Any Time?
February 15, 2019When to Withdraw Your Retirement Plan Dollars Whether or not you may withdraw the money in your retirement plan at any time depends upon the type of retirement plan. There are a variety of retirement plans to consider. Types of Retirement Plans Here are some basics of review the options offered by the IRS …. Read more »
What is a Donor-Advised Fund?
February 08, 2019An alternative to a family foundation is a donor-advised fund. Many brokerage firms and investment companies offer their own versions of donor-advised funds. These funds are established as public charities and contributions are tax deductible as charitable gifts. They can be established with a relatively small contribution (many require an initial gift of only $5000)… Read more »
Does Life Insurance Play a Role in the Success of My Financial or Estate Plan?
January 25, 2019How Does Life Insurance Play a Role in the Success of My Financial Plan? Insurance policies are an important part of your overall wealth plan. They are purchased to protect against an unexpected loss which could cause your financial or estate plan to fail. While life insurance is not compulsory in developing financial and estate… Read more »