When it comes to estate planning, life insurance is an essential component that shouldn't be overlooked. Many people think that life insurance is only necessary for providing financial support for loved ones in case of an unexpected death. However, life insurance can also play a vital role in your estate plan, ensuring that your [...]
High net worth estate planning takes special considerations to ensure you and your loved ones are protected. High net worth individuals and families may require more complex estate plans. Your estate plan, no matter your net worth, should be tailored to your specific situation and goals. With higher net worth estates, if you have a [...]
The biggest estate planning mistakes can be devastating to your loved ones. We hear the same things over and over when it comes to estate planning. "I don't need an estate plan, my loved ones will get everything.". "My family can decide what to do with my assets.". "I'm healthy, I don't need an [...]
Splitting your assets can be hard to think about, especially if you don't have heirs or don't want to split things evenly. There's plenty of factors that contribute to your decisions on how you'll be splitting things. Even if your family dynamics are less complicated than others, there can still be different reasons for how [...]
If you are in a committed romantic partnership, whether you are married or not, estate planning for couples is important. A proper estate plan will highlight your wishes for your assets and your own healthcare decisions should something happen to you. Leaving a plan for your spouse or partner is a huge comfort for them [...]
If you’ve taken the time to create your estate plan, you need to make sure that it’s up to date. A proper estate plan takes time and is a serious commitment to organizing your life and making big decisions. With all this time invested, you do not want to undermine your plan before you actually [...]
Everyone is open to potential lawsuits, but licensed professionals and business owners are even more at risk. Doctors, dentists, veterinarians, small business owners, and even attorneys themselves, have a higher risk of being sued and need more extensive estate planning to protect all they’ve worked for. So while it’s important for everyone to have an [...]
You’re always looking for ways to make your business better, but are you making sure your business is also protected? If your business has been established as an LLC, or Limited Liability Company, there are ways to transfer your assets to the next generation through your estate plan. Here’s how to include your LLC [...]
If a business has multiple owners, eventually a change in ownership will need to happen. An owner will retire or move on for another reason. Don’t forget that emergencies can also happen. Changing ownership doesn’t need to be complicated. Planning ahead will help dispel disaster when the time comes for a transition. The plan [...]
Updating your business succession plan should be a regular part of managing your business. We previously wrote about common succession planning mistakes that are made and one of the biggest mistakes that needs to be highlighted is not updating your succession plan regularly. Like your estate plan, your business succession plan is not set [...]
