More and more families own property, assets, and businesses together. Using an entity to govern operations provides stability by allowing continued operation upon the death of an owner. When the governing agreement and estate planning documents of a deceased owner conflict, unintended, potentially litigious, results occur. My friend and colleague Tereina Stidd, an estate planning expert, discusses good planning in this area. Read on to learn more. … [Read more...] about Estate Planning with Entities
business succession planning
How to Protect Your Business in Your Estate Plan
If you are a business owner, protecting your business is likely a top priority. Incorporating your business into your estate plan is an important way to ensure that it continues to operate smoothly after you pass away. Here are some tips for protecting your business in your estate plan. 1. Create a Succession Plan A succession plan is a critical component of protecting your business in your estate plan. It specifies who will take over the business after you pass away or become … [Read more...] about How to Protect Your Business in Your Estate Plan
How Can I Plan for Business Succession?
Business succession planning is the process of preparing for the transition of ownership and management of a business from one generation to the next. It is an important aspect of business planning that can help ensure the long-term success and stability of the company. Here are a few ways to plan for business succession. 1. Develop a plan The first step in planning for business succession is to develop a plan. This plan should include details such as who will take over the … [Read more...] about How Can I Plan for Business Succession?
Start 2022 the Right Way
The New Year gives us an opportunity to start fresh. If you don’t yet have an estate plan, now’s a great time to make an appointment with an Estate Planning attorney to talk about your goals and concerns. If you already have one, the New Year gives you an opportunity to review it to ensure that it still accomplishes your goals or to make any necessary changes. My friend and colleague Tereina Stidd, an estate planning expert, has shared her thoughts on the topic. Read on to learn more … [Read more...] about Start 2022 the Right Way
Using Entities in Estate Planning
More and more families own property, assets, and businesses together. Using an entity to govern operations provides stability by allowing continued operation upon the death of an owner. When the governing agreement and estate planning documents of a deceased owner conflict, unintended, potentially litigious, results occur. My friend and colleague Tereina Stidd, an estate planning expert, has some thoughts. Read on to learn more. … [Read more...] about Using Entities in Estate Planning
