How Does My Annuity Fit Into My Estate Plan?

Selecting the right type of annuity for yourself is no small feat. Of course, you’ve put in the research and planned with your financial advisors. But, you might still be wondering what happens to those annuity payments upon your death. In addition to their benefits as a financial tool for your goals, annuities can have…

Entrepreneurial Estate Planning: 3 Documents to Protect Your Business

Protect your assets and safeguard your family’s future with three documents that detail what will happen when you’re unable to make decisions later. Insurance, savings and fingers crossed: These are the three elements entrepreneurs use to protect their business. Why doesn’t it feel like enough? Because it isn’t. When you build and nurture something over the years,…

Planning for the Future (Without a Crystal Ball)

Creating a will, trust, or any type of estate plan has always involved dealing with an uncertain future. Consider that just 20 years ago in 1997, the estate tax had an astonishing 55% rate with only a $600,000 exemption. Back then, tax-driven estate planning was a mathematical necessity for a large segment of the population….

Get started now on business succession planning

Three key takeaways ✔ Determine your exit strategy and your desired legacy. ✔ Build a plan for transitioning your business with taxes in mind. ✔ Sell your business to family, employees or co-owners, or a third party. When should you start planning your exit strategy from your business?  Try yesterday! From the first day you…

Estate Planning for an Owner-Dependent Business

Your estate plan, no matter how complex, can be implemented any time before you die, as long as you are still legally competent. It’s probably a good idea to begin planning sooner rather than later, since you may not receive advance warning of your impending death. If you own a business or a professional practice,…

How To Help The Victims Of The Central Mexico Earthquake

Mexico is still recovering from a magnitude 8.2 earthquake, the strongest one the country has felt in 100 years, which hit the southern coast just two weeks ago. Tuesday’s temblor also fell on the 32nd anniversary of the magnitude 8.0 earthquake that struck Mexico City in 1985, killing thousands. In a statement issued on Tuesday night,…

Estate Planning For the Newly Married

Now is the perfect time to start working on an estate plan – because, as newlyweds, you may not have a list of your accounts, but you’ve effectively just done a working inventory of your possessions – as you’ve figured out how to consolidate two households into one. You’ve already been working on the new…

If I Don’t Have an Estate, Do I Really Need an Estate Plan?

You don’t need to have a summer house in the Hamptons or a private art collection big enough to rival MOMA to consider yourself the owner of an estate. In fact, virtually anyone who owns anything has an “estate” in the eyes of the law. Although the term may conjure images of expansive country properties,…

10 Common Ways Even Brilliant Entrepreneurs Screw Up

If you’re relying on your top line to grow your wealth, you could be missing out on easy opportunities to save money and improve profits, independent of your revenue. Many entrepreneurs waste precious time and money by falling prey to these common mistakes. However, there is no need to sacrifice, work harder, or take on…