Blog — Family Business

Tuesday, January 19, 2016

Asset Protection Is for Everyone

When people hear the words “asset protection,” they think of rich individuals with offshore accounts and tax havens. However, in reality, asset protection is for everyone. Using a series of basic techniques, individuals can increase the odds that the wealth they’ve accumulated stays with them and their heirs and not someone else.

Individual’s assets can quickly disappear as a result of a lawsuit, a failed...

Read More...
Tuesday, January 19, 2016

When Parents Are Living with Their Adult Children

Did you know that almost 20 percent of the U.S. population, or more than 55 million Americans, are living in households with two adult generations?

Some of these are households in which “boomerang children” have returned home after college. But in a great many cases, the situation may involve seniors who no longer want to live alone (or are no longer able to live alone)...

Read More...
Monday, December 21, 2015

Approach Year-End Giving with the Following in Mind

As we approach the end of the year, I often get renewed questions from individuals asking about the rules concerning gifts, taxes and related matters. The following are some important factors to keep in mind as you consider making gifts to family members, charities and other beneficiaries: 

  • Overall, an individual has an estate and gift tax credit of $5.43 million. That...
Read More...
Tuesday, December 8, 2015

Business Succession Planning Through Trusts

Many of my clients elect to hold ownership of their business until death, and then provide for a disposition of ownership at that point. There are various issues involved with this approach, mainly depending on factors such as whether or not their children work for the company or if there is a disposition of the business to employees or some other third party. 

...

Read More...
Wednesday, November 18, 2015

Pre-Marital Planning

People who are remarrying after a death or divorce, and even, increasingly, couples who are getting married for the first time in their lives are strongly considering prenuptial agreements or other pre-marital planning. When prenuptial agreements became popular a generation ago, most people thought of them as a way for wealthy people to protect themselves in case they were marrying a younger, less wealthy spouse. Today, however, prenuptial...

Read More...