Penning Group Blog

The Penning Group blog is written and edited by the advisors and attorneys of The Penning Group, providing practical business, personal, and legal information. To view blog posts by category, choose a topic area from the sidebar menu.

Thursday, March 15, 2012

The Hazards of Company Credit CardsWith all the publicity of the new protections afforded consumers with the passing of the Credit CARD Act of 2009, business owners can be surprised to learn that the business credit card in their wallet is not covered by the CARD Act. Business credit cards do not fall under the protections of the Truth in Lending Act and the Credit CARD Act of 2009. This...

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Wednesday, March 7, 2012

A good estate plan will cause your property to go to whom you want, the way you want, when you want and it should minimize the impact of taxes, professional fees and court costs. Non Probate Assets Estate Planning Advisors and AttorneysA proper plan should also help you keep control of your property while you are alive and well...

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Wednesday, February 29, 2012

Who's in Charge?

Family Business Succession AdvisorsMost family businesses have at least two generations working in the business. Oftentimes, it is the parents, brothers and/or sisters on the one hand and children, siblings, cousins on the other. Sometimes, family businesses have three or four generations actively working in the business. The involvement of...

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Thursday, February 23, 2012

Estate Planning for Digital AssetsEstate planning for a client's digital assets is an area of law that is still fairly new. However, I have experienced increasing demand by clients for services in this area as we continue to run full speed into the digital age.

This article will briefly identify some of the issues involving digital assets and steps that you can take to protect your digital assets as part of your estate planning efforts.

What Are Digital Assets?

The two main classes of...

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Monday, February 20, 2012

Advisor AlertAfter much debate and political wrangling, Congress voted to extend a 2% Social Security payroll tax cut and to renew long term unemployment benefits for the rest of 2012. The tax cut effectively reduces the amount of wages withheld by your employer for payment/contribution to social security resulting in higher net income to you. It has been reported this tax cut results in an average $45.00 more in disposable income per week for an average middle class family.

Both provisions had been set to expire in two weeks, on February 29th, after having been...

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