Gifting your assets to a trust is a better way of transferring wealth than giving it outright to your beneficiaries. With a dynasty trust, your family wealth is likely to benefit generations down the line, and it can be a useful estate planning tool for...
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You don’t have to split your business between your children
The most common way to pass a business on to your heirs is to leave it to all of them. This is what most business owners plan to do. A large part of the reason is just that it feels fair and doing so can avoid estate disputes. However, there are some serious...
Give yourself enough time to plan the right commercial lease
As a landlord, you should be informed about the laws that apply to commercial leasing. You should be prepared for the time it will take to move in tenants and for time that may pass without tenants in your building. Not planning for the time it takes to lease out a...
Is a large inheritance bad for your heirs?
You know that you can leave your heirs enough money that they’ll never have to work again. Their children may not ever have to work in their lives. You can give them a gift that most people can only dream of receiving. But is there a downside to doing so? Could that...
Important points to remember about estate planning
Your estate plan tells your loved ones what they need to do with your assets if you pass away. It also relays your wishes for end-of-life care in case you become incapacitated. It’s imperative that you have the terms of your estate plan set up in a way that it can be...
2 big mistakes to avoid in a business merger or acquisition
Mergers and acquisitions are an excellent way to establish business in a new region or to grow your current business network. Mergers and acquisitions can often be a multimillion dollar affair, causing steep financial consequences if done incorrectly. Because of the...
Do you actually own your digital assets?
With assets worth millions of dollars, you know you have a lot of planning to do so that you can pass them on to the next generation. With physical assets -- like an art collection -- the key often lies in deciding if you should leave the assets themselves or sell...
Should you sue your real estate agent?
Whether you’re buying or selling a piece of real estate, you rely on your agent’s expertise to help the process go along smoothly. You also expect your agent to keep their fiduciary duty in mind and look out for your best interests. What if that doesn’t happen?...
Why business succession planning is critical on many levels
Many business owners realize that having a plan for what happens with their company is a key component of the estate planning process. They often think it's critical for much the same reasons they'd want to have an estate plan in place for any other valuable assets....
What happens if a vendor breaches a contract with your business?
Whether you run a construction company or operate a personal chef service that provides meals to clients, you are dependent on your vendors for your business to succeed. When someone doesn't deliver supplies you purchased or paid for, when they provide you with the...