Blog — Family Business

Monday, September 12, 2016

Do-It-Yourself Will

I wanted to share yet another example of how people try and create their own wills using a form taken from a book or the Internet, and wind up shooting themselves in the foot.

I recently spoke with a client whose brother, who we’ll call “Mr. Clark,” from Michigan wanted his estate to go to only two of his five children. Mr. Clark wrote a "do-it-yourself will" in which he left his pickup truck to his daughter, Samantha and his summer home to his son,...

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Monday, September 12, 2016

How to Avoid Surprises On Your Real Estate Title

I have written before about the importance of making sure your mortgage company or lender executes and records a discharge of the mortgage or other lien recorded against your real estate when originally making the loan to you. Too often, loans are paid off and forgotten until the owner seeks to obtain a further loan or sell the property, and then finds out that the previous liens securing...

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Tuesday, July 12, 2016

Key Elements of a Family Business Succession Plan

A family business succession plan is a multifaceted plan. When done correctly, a succession plan for the family business addresses various key issues in the business as well as at a personal level.

There are a number of critical elements you need to consider for any business plan. The following are six key areas your family business succession plan needs to address.

First, make sure you address your own personal retirement...

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Tuesday, July 12, 2016

A family business succession plan is a multifaceted plan. When done correctly, a succession plan for the family business addresses various key issues in the business as well as at a personal level.

There are a number of critical elements you need to consider for any business plan. The following are six key areas your family business succession plan needs to address.

First, make sure you address your own personal retirement planning. Without this step, it is hard to know how long you may need to continue working in order to build your retirement resources, or how much money you can expect to have when you are ready to retire. Going through the retirement planning process...

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Monday, June 27, 2016

Will Meets the Web – Estate Planning for Digital Assets

Will Meets the Web – Estate Planning for Digital Assets

Federal and State Legislation Trail Real-World Use of Digital Assets, Potentially Increasing the Difficulty of Identifying and Conserving These Assets for Heirs and Beneficiaries

Historically, we all have viewed...

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