Death or disability can suddenly and negative impact an unprepared business. Even a gradual retirement can hurt the potential for success with continuity and management by successors in the future. That’s where a buy-sell agreement comes into play to help ensure stability and cash flow while the retiree’s buyout was funded.  Sale to a […]

There are two important keys for factoring in healthcare decisions late in life. These are the living will and a healthcare proxy. They not only provide directions for someone’s care, but they also keep decisions from being made in expensive court proceedings.  A living will clarifies a person’s health care decisions, but states do vary […]

While his death happened two years ago, there are plenty of estate planning lessons to be learned from the estate of Sopranos star James Gandolfini. In light of the fact that his death is in the recent past, it’s a good reflection of how long documents and planning tools take to wind through the court […]

  Tax-free savings accounts, which were first introduced in 2009 and still in existence with relatively high contribution limits, provide for the smooth passage of assets upon death. This process, when done properly, also helps individuals avoid probate court. Individuals can pass on to a successor holder (if the other person is a spouse or […]

A recent survey of 513 business owners indicated that more than 400 of them were concerned about the possible implications of a lawsuit or divorce. Despite these broad concerns (which are certainly fair, given the litigious environment we live in and high divorce rates common across the country), only fifteen percent of those surveyed had […]

There are plenty of stories about the challenges of moving on from a business when it’s time to leave, but there are also more positive stories about proven paths for successful business exits. One such example is that of Arbor Investments LLC in Michigan after the sale of 208 Arbor Drug Stores in 1998.  The […]

Unfortunately, when it comes to fraud, there is a perfect storm targeting senior citizens. Many of the scammers who target this population are extremely crafty and have compelling stories and displays to make it look as if their operation is legitimate. Steering clear of these situations can be difficult; read on to learn more.  As […]

The Supreme Court’s recent decision has already had a big impact around the country, and it certainly influences the legal rights of same-sex couples with regard to taxes and spousal benefits. There are several different ways that this influences current planning. If you are planning to get married in light of the recent ruling, read […]

For many years, company owners have used LLCs and limited partnerships to pass on businesses to their heirs. Passing on these business interests might also be accompanied with a transfer of marketable securities wherein the partnership keeps control but the gift overall reduces assets and therefore the tax burden.  This practice is now under scrutiny […]

Asset protection is a term that is thrown around quite a lot in planning circles, and depending on who you talk to, the definition in use could be different. In general, however, there are two stages to asset protection. In the first stage, you evaluate all of the possible scenarios under which risks may expose […]