"When a small business owner dies with an active amortized loan, the debt does not vanish. The balance remains an obligation of the business entity and a valid claim against the owner's personal guarantee and estate", the Small Business Administration website...
"Before assets reach children or charities, they most often move to a surviving spouse," Erica Ellis, J.D. reminds financial advisors."Women will control a growing share of wealth in the coming decades, driven largely by longevity, Ellis reminds readers of Financial...
Thinking of naming minor children as beneficiaries of your life insurance policy, retirement account, or investment account? Think again. While minors can certainly inherit assets, they are still legally ineligible to manage those assets. If no trust or guardianship...
"Before assets reach children or charities, they most often move to a surviving spouse," Erica Ellis points out in Financial Advisor Magazine, urging financial advisors to establish relationships with both spouses. "The moment of transfer" (after one spouse has...
Both givers and receivers need to be strategic about communicating when it comes to estate planning and wealth transfer, John Vandergriff emphasizes in a Kiplinger article. On the other hand, he notes, "The reality is that not everyone wants their children to know...
“Bucketing” is a way to give form and function to estate planning, anticipating not only your own future needs, but those of your beneficiaries at different stages of their lives.
Intra-family loans can be a good planning tool, in addition to helping provide assistance to loved ones. However, caution is in order, to avoid both tax problems and interpersonal misunderstanding.
Behavioral qualities make people act in a certain way, and estate planning is a particularly sensitive top, with different personality types tending to react differently.
Nontraditional families need special estate planning strategies to ensure their wishes are fulfilled.
The closing of a long-time business in Indiana serves as a stark reminder of the importance of business succession planning for both disability and death.
