You’re a Successful Business Owner. Great! Now What?

You’re a Successful Business Owner. Great! Now What?

If you have started a business, you know few things compare to pursuing your passion and having the autonomy to do things your way. You also know it takes more than hard work and determination to be successful. Business growth requires the right strategies and partnerships, as well as products and/or services with strong market demand. While it may seem strange, as part of those strategies, an entrepreneur should also […]

Continue reading
How your perception of money and wealth changes with age

How Your Perception of Money and Wealth Changes with Age

Did you know that age influences your perception of wealth and how you use it? The impact of wealth can also significantly affect how we view things, including future perspectives on money. Understanding how our attitudes toward money changes with age might be the key to good financial planning. If you were fortunate you were introduced to money in your childhood, most likely as a gift or a birthday check […]

Continue reading
Can an executor withhold money from a beneficiary?

Can an Executor Withhold Money From a Beneficiary?

When a loved one passes away an executor is responsible for settling their estate, according to the terms of their will or trust. This includes the distribution of assets to the proper beneficiaries, although assets can also be placed in a trust for a beneficiary. All debts, expenses and estate taxes must be paid before a beneficiary can receive any assets, including money. The executor is bound to follow the […]

Continue reading
The benefits of renting your home from your business

The Benefits of Renting Your Home From Your Business

An asset protection trust is an irrevocable trust that is often created to protect beneficiaries from overly litigious lawsuits. Without holding legal title to any of the assets, each beneficiary has ownership of an equitable interest in the trust’s assets. If you have a sizable estate you wish to protect consider renting your home from your business for tax purposes. Under an asset protection trust, renting your home in such […]

Continue reading
Business mitigation plan examples

Business Mitigation Plan Examples

Running a business involves risk, and owners accept certain levels of risk because of the potential for success. Capital risk can be the result of various factors but is often a combination of internal and external components. However, there are tools that can help business owners protect their companies from threats. One of the most preventative measures a company can take is in the form of planning. A well-structured business […]

Continue reading
Inheriting Crypto the Right Way

Inheriting Cryptocurrency the Right Way

Legal documents, such as wills, can be a sensitive topic for many of us. Yet, we must plan them carefully to properly safeguard our family members’ inheritance successfully. For the vast majority of cryptocurrency or bitcoin owners, the last thing on our minds is what happens when we pass, let alone how inheriting cryptocurrency plays a part in our estate plans. However, just like your conventional assets, it’s critical to […]

Continue reading
Are you too old for an estate plan

Are You Too Old for an Estate Plan

Ask a person in their 20s or 30s whether they need an estate plan; more than likely the answer will be no. Why? They might say that estate planning is just for the wealthy, or they might suggest that they are too young to worry about such matters. But what about people who feel that they are too old for an estate plan? The fact is a person cannot be […]

Continue reading
Common high net worth estate planning mistakes

Common High Net Worth Estate Planning Mistakes

HNWI or High-net-worth individuals’ estate planning can be quite complicated. These individuals and families tend to have more multifaceted financial circumstances, which might expose them to taxes and other limitations which median to lower-income households do not face. The bottom line is that HNWI’s estate plans are complex and prone to costly financial mistakes. The greater an estate, the more critical it is to recruit a specialist in the estate […]

Continue reading
Who needs a gun trust in their estate plan?

Who Needs a Gun Trust in their Estate Plan?

Why should every adult have a legally binding estate plan? A widely accepted myth is that your spouse will immediately receive the entirety of your assets upon your passing. This is not true in every jurisdiction and circumstance. In some instances, your spouse will inherit only a fraction of your worth, with the remainder passing to your heirs or other relatives. Estate planning is essential for ensuring that all of […]

Continue reading
Putting Cryptocurrency in your Family Trust

Putting Cryptocurrency in Your Family Trust

Bitcoin and other assets supported by blockchain technology are part of a rapidly growing area of interest for folks looking for new ways to invest their wealth. If you own cryptocurrency, it’s particularly important to include it in your estate planning because it’s not a discoverable asset, like real estate holdings or mutual funds. Dying without explicit instructions regarding the fact that you own cryptocurrency, or without providing the private […]

Continue reading