Physicians spend years building a thriving practice—but many overlook the estate planning steps that protect their business, income, and family if something unexpected happens. The result? Court delays, tax headaches, operational chaos, and personal exposure. Here are the top 10 estate planning mistakes doctors commonly make—and how to avoid them. 1. Not Having a [...]
Corporate executives in Wisconsin often receive a large portion of their compensation through restricted stock units (RSUs), stock grants, or employer equity awards. As your shares vest, they can quickly become a significant part of your net worth—and with that comes complex questions about taxes, transfer planning, and probate exposure. One of the most [...]
If you’re a business owner in Illinois preparing for a sale, here’s a question most people don’t think to ask: “Is my estate plan ready for this transaction?” And the honest answer is usually: not yet. Selling a company — especially a family-owned business — isn’t just a financial transaction. It’s a major estate [...]
Estate planning for dentists doesn't need to be complicated. What happens to your dental practice—and your wealth—when you decide to sell or retire? For Illinois dentists, selling a dental practice isn’t just a business decision—it’s a key moment in your estate and tax planning. The sale can impact your retirement, your family’s future, and [...]
The Illinois Secretary of State’s Department of Business Services has announced a new Franchise Tax and License Fee Amnesty Program. This limited-time program gives eligible corporations the opportunity to avoid penalties and interest on unpaid or underreported franchise taxes. If your business is incorporated or authorized to do business in Illinois, you’ll want to [...]
As a medical professional in Illinois, you've dedicated your life to healing and helping others. Your practice is more than just a job; it's a significant asset, a testament to years of hard work, and often, a crucial part of your family's financial security. But have you considered what would happen to your practice [...]
Too many high-earning professionals and business owners think of estate planning as something to do “someday”—after retirement, after the kids are grown, after things slow down. But life doesn’t always wait for the perfect moment. Whether you’re running a practice, growing a business, or building generational wealth, the decisions you make today will shape [...]
A recent federal court order has temporarily stopped the enforcement of the filing requirements for beneficial ownership information with the Financial Crimes Enforcement Network (FinCEN). Therefore, at this time, reporting companies (existing and newly organized) are not required to file beneficial ownership information reports and will not be held liable for failing to do so while the [...]
The holiday season is a time for joy, reflection, and gratitude. However, it's also a great opportunity to take stock of your business and personal affairs. As a business owner, you're likely busy with year-end tasks, holiday parties, and family gatherings. But don't forget to carve out some time to address your business and [...]
In a recent legal development, a federal judge in Texas has ruled against the new rule by the U.S. Federal Trade Commission (FTC) that would have essentially banned noncompete agreements. This decision is particularly relevant for business owners, employers, and high-earning employees, as it directly impacts how businesses can protect their interests. What Are [...]
