Category Archives for Business Succession
9 Top Questions (and Answers) on the SECURE Act
If you are at or nearing retirement age or planning for retirement, there is some BIG NEWS that everyone needs to understand and act on for their own retirement planning. Just this month, the Setting Every Community Up For Retirement Enhancement (SECURE) Act was passed by the House of Representatives and the US Senate by […]
Continue readingThe “Four Pillars” You Need in Your Estate Plan so it “Works” the Way You Want It To
Regardless of whether you have an estate plan in place or are just starting to think about one, there are some key elements everyone should know about (or refresh their thinking about). It will be worth your time to refresh yourself (or educate yourself) on some core goals you should consider when thinking about estate […]
Continue readingDo You Have an Estate over $11M…You’ll Want to Know About This Technique
The federal estate and gift tax exemption is at an all-time high ($11,400,000 as of January 1, 2019). This means that the vast majority of people will be tax exempt when it comes to gift taxes and only a tiny percentage of people who will have taxable estates. But for those of you who do […]
Continue readingWhat is a “DAPT” and Why You Should Care About It
Let me start by defining what “DAPT” stands for…Domestic Asset Protection Trust. Still confused by what it means? Many are as it isn’t something that is simple and easy to understand in the first pass. I will hopefully help you understand it better and offer you some ideas on how it can be used so […]
Continue readingCelebrity “Fail” Series…Fail #3…How Burt Reynolds and Aretha Franklin Failed at Estate Planning
This is the third in our “Celebrity Fail Series” that talks about how celebrities failed to do the proper planning for their estates. Besides having some great entertainment value, there are some important lessons that can be learned from some of the most recognized celebrities. It also demonstrates that effective estate planning isn’t about having the […]
Continue readingWhy You May Want to Form an LLC
I find that there are a lot more “unknowns” and “concerns” about an LLC (limited liability company) that perhaps any of the other business structures…at least I seem to get more questions about LLCs than the others. So it caused me to conclude that most people really don’t understand all the benefits surrounding an LLC […]
Continue readingAmy Winehouse got her will right
While signers and movie stars are not a large part of my estate planning practice, it is sometimes fun to look at what happens to the “rich and famous” when it comes to their estate planning…at least I think it is fun. Often times we think that just because someone has a significant amount of […]
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