Succession Planning

Legacy Planning: Think Several Generations Ahead

Plan now to prevent your descendants from squandering your wealth after you die. According to an ancient Chinese proverb, “Wealth does not pass three generations” -- the first generation builds the wealth; the second generation is inspired to preserve it by witnessing the hard work of their parents; and the third generation, having never witnessed […]

Succession Planning for Small Business Owners

How to take proactive steps to protect family future financial stability Succession Planning for Small Business Owners is a complex process that covers a wide range of topics. For most people, the tasks that come to the forefront are determining who gets your personal property and monetary holdings at the time of your death. However, […]

Succession Planning is Key in a Family-Owned Business

Estate planning attorney, Gary Altman, Esq., tells The Business Monthly readers why "Succession Planning is Key in a Family-Owned Business." Read the article here!

Tips to Successful Business Succession Planning

Tips to Successful Business Succession Planning As many Baby Boomers approach retirement age, the consideration of what will happen to the businesses older individuals own becomes more important. Many business owners have invested their personal funds and spent their entire lifetimes building the business. Some ways that business owners can create a more effective plan […]

Don’t Wait Too Long for Business Succession Planning

In August 2016, the United States Treasury Department proposed new regulations that would limit the use of valuation discounting. This is a common planning technique that has assisted individuals in executing wealth transfers for years. The premise is that a person can transfer an interest in a family-owned business at a discount so that the […]

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