Estate & Transition Planning

To Make a Bequest

How can you stipulate who gets what at your death? A will.

What if your wishes change? Create a new will or amend your existing (by “codicil”). A codicil must conform to certain laws as to design and execution, just as the will must. You’ll want your attorney to assist you. Or just put your new wishes down on paper, then sign and date it. Actually, make three originals. Attach one to the copy of your will; give one to the attorney who created your will and one to the executor of your estate (as directed in the will).

Shelter Life Insurance Proceeds from Estate Tax

Life insurance policies are taken out - in most cases - to provide financial benefits (i.e., money) to the heir(s) of the insured. For most people, the heir is the spouse, then children, then grandchildren.

Estate Taxes and The Estate Plan

"Estate tax" is a tax levied, at the time of your death, on the total value of your possessions. Affectionately referred to as a death tax, the estate tax was enacted as a way to redistribute wealth and avoid the undesirable concentration of excessive wealth within a few families.

Trouble Finding a Buyer for Your C-Corp Stock? Consider the ESOP

If you own a business organized as a C-corporation, you could face a wealth-draining dilemma when you try to sell.

Don’t Sell. Retirement’s for Wimps!

Heck no. You don't have to retire. Strom Thurmond remained a U.S. Senator through the age of 100. Dwight Hauff is 101 and owns Hauff Sporting Goods in Sioux City, Iowa. Jack Weil is 104 and still owns Rockmount, a Denver-based manufacturer of Western shirts. Carl Stevens is 86 and owns Total Plumbing.

Sell It, Make a Bundle and Get to the Good Life!

Who wouldn't want to retire? Sell the company and put money in the bank? Have the time and freedom to travel, play tennis, exercise and volunteer? Spend more time with the grandkids?

Pros and Cons of ESOP

Benefits to Business Owners Selling by ESOP

Never Let the Buyer Work in the Business!

"After the troops have crossed the bridge, burn it," ordered the battalion commander.
"But that's our only way out!" shouted a shocked lieutenant.
"Yes, burn the bridge," insisted the commander. "Our only option will be to defeat the enemy."
Sometimes, if the job is really tough, the only way to ensure success is by making it the only option.
Assuming ownership of a [...]

Going Public: Dream or Reality?

Many private business owners dream of "going public." It's the ultimate entrepreneurial status symbol. Build a company and take it public? Well, you've really done something.

For Sale by Owner?

Remember the old saying: "The person who represents himself has a fool for a client"? Athletes, highly paid executives and persons involved in legal disputes adhere to it. Unfortunately, some business owners do not.