When confronted with what to do for business succession planning, a business owner might consider multiple options including passing the business on to other family members, selling the business to stakeholders currently working in the business or even selling the business to an outside individual. Scenarios such as sudden disability or death of a business [...]
First defined in 1968, ageism refers to the systematic stereotyping of and discrimination against individuals as a result of their age. Social scientists argue that we first look at new people through the prisms of gender, race and age. While gender and race are politically sensitive, perception of age will often serve to present as [...]
Recently European succession regulation went into effect for all members of the European Union except Denmark, the United Kingdom and Ireland. One important regulation for those considering estate planning abroad is that a person's habitual residence at the time of their death determines the law which applies to estate determinations. In essence, this means that US [...]
A second marriage can raise many questions about who gets what, whether these people should get property, and will feelings be hurt? Each spouse should allot 30 minutes to spend time listing assets and discussing the potential future of these assets. Each member of the couple should also consider carefully what happens if the other [...]
Knowing what you need is simply the first step in estate planning. Most people will use a power of attorney, a will and a healthcare directive but more advanced planning could use trusts. When learning more about putting together a trust with your estate planning attorney, ask about the cost for this upfront. If the [...]
It's very likely that a business could turn out to be the largest asset held within a family. But fairness of how to deal with this in terms of succession planning can arise as an issue if all family members are not involved in the conversation in one way or another. Especially in the event [...]
Keeping a family together requires talking and planning, and this is also essential when putting together your goals for your estate. In this process you should be focused on the people involved rather than simply the tax and investment considerations. Be aware of some key concerns when thinking about planning for your own family's future [...]
Setting a course for the future of your business involves looking well into the future. Difficulties can often act to narrow and constrict your long-term plans, and focus can easily turn to quarterly results and reactions if you are not careful. When thinking about the future of your business, you need to take time to [...]
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When a family member is looking at the need for long term care, it might seem overwhelming because there is so much material to be found about this transition both online and in print. Some of it greatly simplifies the Medicaid process, making it look as though you can easily guide your loved one through [...]
It goes without saying that knowing one estate planning attorney does not mean you know them all. Finding the right mix of experience, expertise, and compassion is important for anyone looking to put together a plan for the future. In an initial consultation, it’s a good idea to ask for testimonials. Your attorney might [...]
