Family Limited Partnership Vs Trust: Which is Better for Your Assets? Estate planning is a complicated process when you have a family business. Your heirs aren’t ready to take over the reins just yet, but you need to prepare them for the complex roles you perform every day. Fortunately, you have options when it comes to passing on your family …
A Guide to Paying Final Expenses After the Death of a Family Member Paying expenses after death can place significant financial stress on grieving families. Without prepaid funeral services or payable-on-death funds, your personal representative might have to dip into their own savings to cover the costs—at least until probate clears. Unfortunately, many family members are unprepared for the high …
Entrepreneur’s Guide to Starting a Small Business in South Florida One of the most frequently asked questions we get, indeed almost daily, is about starting a business in South Florida. How is it different? What are the steps I need to take? How do I even begin? So, we decided to write an Entrepreneur’s Guide to Starting a Business in …
Estate Planning for Elderly Parents: How to Nudge Mom or Dad Into Making a Will Sixty isn’t what it used to be. Indeed, seventy doesn’t seem to restrict too many people either. These days, people clinically labeled “elderly” may be active, in great health, and show no signs of slowing down—have you seen who dominates the pickleball courts? So when …
Estate Planning for Millennials: How to Protect Your Partner, Young Children, and Aging Parents If you’re in your 40s or just celebrated your 50th birthday, your daily life has a variety of challenges. Career advancement, planning for retirement, raising teenagers, caring for aging parents—you’re so busy that the thought of getting your affairs in order hasn’t even crossed your mind. …
Tips to Pay Lower Income Taxes Next Year (No Matter Which Tax Bracket You’re In) Next year’s taxes are probably the last thing you want to think about, especially if you’ve recently filed your return. However, forming a tax strategy can mean less stress during tax season and more money in your pocket. If you’re an employee, business owner, high …
Entrepreneur’s Guide to Choosing the Right Business Entity in Florida There are several business entity options available to Florida entrepreneurs. Corporations, partnerships, LLCs, and sole proprietorships all have unique benefits and requirements under the law. So, how do you choose the best one for your new business venture? Choosing the right legal structure is one of the four pillars of …
Use the 529 Plan Rollover to Turn a College Fund Into a Retirement Fund Your child’s graduation day is approaching, and there’s still plenty left over in their 529 plan. Should you spend the balance, shift it to another investment, or keep the account open in case they want to go back to school? There could be an even better …
8 Estate Planning Questions for Baby Boomers As they enter retirement age, Baby Boomers have years of wisdom and stability to offer younger generations. However, roughly 1 in 3 Baby Boomers hasn’t completed their estate plan. Failing to plan puts the families and businesses they’ve spent years developing at risk. In this article, we’ll explore eight essential questions that every …
The continuity of a family business, with its rich history and deeply ingrained traditions, is a testament to the dedication and hard work of those who came before. In an ever-changing market where trends come and go, the ability to pass down a successful family business to the next generation is a remarkable achievement. But how can you be sure …
