Three Common Estate Planning Mistakes You Don’t Want to Make

No matter what your net worth, it’s wise to have a comprehensive estate plan in place, and the earlier you do this, the better. Without an estate plan, decisions may be made without regard to your wishes and may not fully consider your heirs’ needs. The following are what I consider to be the three most common estate planning mistakes. READ MORE


10 Ways to Ensure a Smooth Leadership Transition

There are a number of books written on succession planning and transitions in family businesses, and it is impossible to synthesize all of that information into a short blog. So, keep in mind as you read this, that succession planning is a complex subject, and this is intended as a high level overview. In subsequent posts we will discuss particular aspects in greater depth. Following are 10 suggestions to ensure a smooth leadership transition for your family business.



Key Issues from the 47th Annual Heckerling Institute Conference on Estate Planning

During the week of January 14, 2013, I was fortunate to attend the Annual Heckerling Institute Conference on Estate Planning in Orlando, Florida. It is the nation’s leading conference for estate planners, including accountants, attorneys, trust officers, insurance advisors and wealth management professionals. The sessions offered a comprehensive coverage of the latest estate planning techniques and strategies.



Key Methods Used in Valuing a Family Business

As a family business owner, your company’s future viability depends on several factors, including the value of your business. Your business may likely be the most significant asset of your estate, in terms of value for estate tax purposes and for business succession. So it may be wise to have your business valued sooner than later, to start dispersing that value to family members (children, grandchildren, etc.) or others. This will reduce the value of your estate, thus decreasing the tax burden when the business is eventually transitioned to the next generation.