Financial Estate Planning: Your Guide to Trusts, Gifting Strategies, Charitable Donations, and Taxes
Through the process of estate planning, you’re able to establish, shape, and protect your legacy. But the strategies that will be most helpful to you will depend on your individual circumstances. In this article, you’ll be exposed to a variety of estate planning tools that can help maximize the wealth you’re transferring to those next-in-line. […]
Is a Grantor Retained Annuity Trust (GRAT) Right for You?
Estate planning is critical to protecting your life’s legacy. Without it, those next in line face unnecessary challenges in receiving what’s rightfully theirs. But the type of planning you, and your beneficiaries need will depend on the complexities of your estate. For those looking to leave larger amounts behind, or who have assets that could appreciate […]
Filing Form 5500-EZ for Your Self-Employed 401(k) Plan
Filing Form 5500-EZ for your Self-Employed 401(k) Plan There’s good news if you’re a solo entrepreneur or self-employed individual and want to enjoy the benefits of a 401(k) retirement plan: Congress has created a special type of 401(k) plan just for you. Known as a Self-Employed 401(k) or a solo 401(k), this plan is similar to […]
How to Invest in Private Real Estate
For some investors, the traditional asset categories of stocks, bonds and cash equivalents aren’t enough to ensure a well-diversified portfolio. In such cases, these individuals may want to consider turning to alternative assets in the private market space. Common alternative assets include private equity, private debt, private real estate and hedge funds. Because high-net worth investors are […]
Hedge Funds 101: Investing in a Hedge Fund
For some investors, in order to ensure a well-diversified portfolio, the traditional asset categories of stocks, bonds and cash equivalents aren’t enough. In these instances, investors may want to consider turning to alternative assets in the private market space. These are investments that don’t fall into one of the three traditional asset categories. Some of […]
Family Business Succession Planning: How to Get Started
Sixty-four percent of older business owners (over 50 years old) lack a succession plan. Making the process more challenging for family owned businesses is the fact that most owners and patriarchs of family businesses want to see the business continue within the family long after they have hung up the reins. Unfortunately, the statistics, when it […]
Succession Planning for Small Businesses
Succession planning is one of those things that many owners know is important, but often don’t get around to doing it. In fact, up to half of small business owners who plan to retire in the next five years say they have not yet named a successor, according to the Service Corps of Retired Executives […]
Tips for Business Owners to Minimize Taxes as Retirement Approaches
As you work toward implementing your succession plan, and ultimately, retiring, it’s wise to also be considering the tax implications from the sale of your business. You will likely receive a substantial amount of money for your business or your share of it, which could result in an increased tax liability if you don’t plan ahead. […]
The Role of Insurance in Succession Planning
As a business owner, protecting yourself and your business has always been a major concern. You’ve purchased various types of insurance policies, such as general liability, property and worker’s compensation, to cover your business in the event of unexpected circumstances. But have you considered the role insurance can play in protecting your business when you […]
Buy-Sell Agreements Are Essential to Any Small Business Succession Plan
When you are planning for your retirement, you must consider what will happen to your business when you are done working. Most successful business owners want to ensure that their business continues well into the future. However, success and longevity aren’t guaranteed. Thirty percent of family-owned businesses survive into the second generation, and only 12% make it […]