Although most people are aware of the litigious nature of society today, they often do not follow this up with the proper planning necessary to protect their assets. It is well worth your time to put structures in place to protect you from future litigation. Without any planning, you could be putting your assets in [...]
Suddenly having assets that you didn’t anticipate can be difficult to manage even when you’re excited about the new prosperity. A sudden influx of wealth presents its own set of problems that require a measured and deliberate response. Give yourself a little bit of time to adjust to the shock first. During this period, avoid [...]
The foundation of a healthy family business is in adopting and using standard policies and procedures that help to avoid the informal setting that many family companies might be tempted to default to. When business and ownership interests overlap with family relationships, conflict is naturally more likely to emerge. One of the keys to handling [...]
It’s no surprise that people are living longer, partly due to advances in medical technology. What many people do not realize is how this translates over to their planning for retirement and end of life care. Funds that might have lasted through a typical retirement and lifespan in the past no longer provide the comprehensive [...]
As is the case with many celebrity passings, there are lessons to be drawn from the estate of Paul Newman. In this particular case, it is important to understand that if a foundation will be run by family after the death of a loved one, early and clear communication is key. Rules for the governance [...]
Abuse and neglect of elderly individuals in nursing homes is an issue that has been drawing more attention recently as family members and other loved ones discover unfortunate situations. A clear understanding of elderly rights can help to address any concerns your family might be facing with regard to cost and quality of care for [...]
There are lessons to be learned from the sudden death of David Roth, general director of the Kentucky Opera. Unfortunately, families and business around the country suffer when an unexpected departure raises many questions about the future of a company or entity. Although it can be frustrating to realize the challenges of handling this situation [...]
A working artist has the potential to create hundreds of unique pieces over the course of a lifetime. Determining what you want your legacy to be and what you want to happen to your art can be a difficult question, but it is one that is better addressed sooner rather than later. One of [...]
As of this writing, the IRS views bitcoins as property. The digital currency has gained enough traction that the IRS has started to pay attention. Now, owners of bitcoin are responsible for recognizing loss or gain and filling out taxes and W-2s where necessary as a result. To include bitcoins in your planning, follow these [...]
These mortgages are marketed quite heavily to the target market- individuals over the age of 62. These provide the ability to borrow against home equity, but not understanding how these work could leave heirs at risk of losing a family home. On a national level, debt has risen quite quickly for those aged 65-74. It [...]
