BUSINESS PLANNING

Your Vacation Checklist

By |2019-06-12T11:45:05+00:00June 12th, 2019|Categories: BUSINESS PLANNING, ESTATE PLANNING, Trusts|Tags: , , , |

You’ve packed sunblock and a beach novel. You’ve planned your itinerary and bought plane tickets. But have you ensured that your estate plan is up to date? Don’t leave home without making sure your financial health and the future of your loved ones is provided for. It’s even more crucial than getting a pet sitter and locking the front door. Creating an Estate Plan If you don’t have an estate plan yet, don’t panic. Now is a great time to connect with a qualified estate planning attorney who can sit down with you and get you started with an appropriate [...]

RETIREMENT PLANNING FOR BUSINESS OWNERS

By |2019-06-05T10:13:49+00:00August 23rd, 2018|Categories: BUSINESS PLANNING, ESTATE PLANNING, RETIREMENT|Tags: , , , |

For many employees, saving for retirement is usually a matter of simply participating in their employer’s 401(k) plan and perhaps opening an IRA for some extra savings. But, when you’re the owner of a business, planning for retirement requires proactivity and strategy. It’s not just the dizzying array of choices for retirement accounts, there’s also planning for the business itself. Who will run the business after your retirement? Additionally, your estate plan must integrate into your retirement and business transition strategy. Owners of businesses (like employees and everyone else) want to make sure they will have enough money in retirement. [...]

REWARDING YOUR EMPLOYEES BY GIVING THEM THE BUSINESS

By |2019-06-05T10:15:18+00:00August 23rd, 2018|Categories: BUSINESS PLANNING, Design, ESTATE PLANNING, RETIREMENT|Tags: |

Retiring from your business can a tough decision.  To ensure that what you have built continues on, there needs to be a plan for succession.  For some people, they have spent years grooming a child or other family member to take over, wanting the business to stay in the family.  Others look to sell to a third party for a quick way out that will also give them a nest egg for their next phase of life.  However, there is a third option–transferring the business to your employees.  If you like the idea of transferring your business to long-time faithful [...]

FINANCIAL PLANNING. TAX PLANNING. LEGACY PLANNING. ESTATE PLANNING – HOW MANY PLANS DO I NEED?!

By |2019-06-05T12:30:29+00:00August 23rd, 2018|Categories: BUSINESS PLANNING, ESTATE PLANNING|Tags: , , |

Most folks have at least heard of an estate plan. But fewer realize that a simple will is not enough to prepare for your future. In fact, a combination of plans – financial, tax, legacy, and estate – are vital to your financial well-being and protection of your assets and family. All of these plans are closely linked, affecting one another but also serving different purposes. Different Plans for Life Success Contrary to popular belief, in order to get to where you want to go in life you need multiple plans, each intended for a specific area of your life. [...]

ESTATE PLANNING WHEN NOT ALL OF YOUR KIDS ARE IN THE FAMILY BUSINESS

By |2019-06-05T22:28:51+00:00August 23rd, 2018|Categories: BUSINESS PLANNING, ESTATE PLANNING|

Owning your own business can be a great endeavor that takes a lot of passion and drive. Many small business owners focus on the day-to-day management and growth of the business, rather than thinking about a time when he or she may not be in the business. This is a far too common mistake.  Future plans for your enterprise are even more important when one child works in the business but the others do not. Keeping the peace among your children after you are no longer able to participate in the business requires careful balancing of your estate plan. Planning [...]

RETIREMENT PLANNING FOR BUSINESS OWNERS

By |2019-03-07T08:32:49+00:00May 21st, 2018|Categories: BUSINESS PLANNING, ESTATE PLANNING|Tags: , , |

For many employees, saving for retirement is usually a matter of simply participating in their employer’s 401(k) plan and perhaps opening an IRA for some extra savings. But, when you’re the owner of a business, planning for retirement requires proactivity and strategy. It’s not just the dizzying array of choices for retirement accounts, there’s also planning for the business itself. Who will run the business after your retirement? Additionally, your estate plan must integrate into your retirement and business transition strategy. Owners of businesses (like employees and everyone else) want to make sure they will have enough money in retirement. [...]

REWARDING YOUR EMPLOYEES BY GIVING THEM THE BUSINESS

By |2019-03-07T08:55:41+00:00April 30th, 2018|Categories: BUSINESS PLANNING, ESTATE PLANNING|Tags: , , , |

Retiring from your business can a tough decision.  To ensure that what you have built continues on, there needs to be a plan for succession.  For some people, they have spent years grooming a child or other family member to take over, wanting the business to stay in the family.  Others look to sell to a third party for a quick way out that will also give them a nest egg for their next phase of life.  However, there is a third option–transferring the business to your employees.  If you like the idea of transferring your business to long-time faithful employees [...]