Family businesses are very common. According to some reports, there are more than 24 million of them in the United States. Many of these are small, just run by the original founder and their family members. However, as often as you see family businesses, they do face...
Death is inevitable, and you want to ensure that your heirs and beneficiaries are taken care of once you are gone. But not all people are equipped with the financial savvy to handle access to large sums of money. In some cases, heirs blow through their inheritances...
Running a successful business takes foresight, hard work and planning. For example, putting a business succession plan in place can make the difference between short-term and long-term success for a particular enterprise. Whether you operate a family-owned enterprise,...
Have you ever wondered what happens to someone’s estate if they die before they make an estate plan? Something still has to be done with all of their assets, and state law is responsible for determining exactly what procedures should be followed. If someone passes...
People who are creating an estate plan have a variety of options for getting their beneficiaries the assets they want them to have. One option is to use an irrevocable trust, which is a legal arrangement that’s set up while the creator is living for the purpose of...
Incorporating charitable giving into your estate plan is a powerful way to leave a legacy that reflects your values, supports causes you care about and makes a lasting impact on the world. For many people in California, the process of estate planning offers an...
If you own a business in California, including it in your estate plan is vital. Planning ahead protects your hard work, avoids costly delays and gives your loved ones peace of mind. Here are three popular options for handling your business in your estate plan. 1. Set...
You drafted your estate plan years ago, but now you are doing an update and reviewing your decisions. Specifically, there is one child you initially included who has developed problematic spending habits. You are worried that they are just going to waste the...
If you own your home free of a mortgage, that’s likely one of the most valuable single assets you have to pass down to your loved ones when you’re gone. Maybe you have your family home as well as a vacation home or rental property. These could have a combined (and...
When planning for the future, individuals and families often seek ways to minimize their tax liabilities. Understanding the difference between tax avoidance and tax evasion can help those interested in minimizing their tax burdens and the tax burdens on their heirs to...