72% of small businesses don’t have a succession plan, reports Isaac O’Bannon, Managing editor of the CPA Practice Advisor. What’s more, O’Bannon found, 87% of small business owners were unaware that there are documents that can be created to specifically protect their...
Bylaws? Operating agreements? Choice of business entity? Those may not sound like estate planning topics, but they most definitely are. In fact, all too often, entrepreneurs are so busy developing and then running their businesses, they don’t take the time to address...
“It doesn’t matter how far along the divorce is or how long the action has been pending, the law considers you to be legally married until the judge signs the final decree ending the marriage,” writes Patti Spencer in thebalance.com. That means your spouse may still...
“With markets up and a desire to make an impact strong, charitable giving is growing,” says Pamela Norley, President of Fidelity Charitable. There are four factors driving this generosity, she posits: the strong stock market increased awareness of issues (due to the...
“Talk to your clients about how they want their online life handled after their death, Philip Herzberg, CFP® and attorney Michael Dribin advise financial planning practitioners. Digital assets may include: photo files images videos email accounts social media such as...
“I don’t need any,” was David M. Cordell’s conclusion after doing some soul-searching combined with financial planning. Cordell, director of finance programs at the University of Texas at Dallas, came to the conclusion that his life insurance policy, with its...
Pet owners are turning to their financial advisors for guidance, Margarida Correla reports in financial-planning.com. Most of the upswing, Correla notes, is coming from young, single individuals who have not yet settled down but who are committed to their pets and...
“The HECM is a safe plan that can give older Americans greater financial security,” is the way Ben Carson, U.S. Housing and Urban Development Secretary puts it. Carson is referring to reverse mortgages, which allow seniors aged 62 and older to access some of the...
Roth IRAs can play an important role in estate planning, and, at Geyer Law, we think it’s important to remind our clients that the rules have changed under the new tax law. “Clients will require more advice,” retirement planning expert Ed Slott writes in Financial...
“Make sure your life insurance policy correctly lists your beneficiaries and how you want the money divided because you won’t be around to fix any mistakes if it’s not,” Natasha Cornelius writes inQuotacy. Primary, secondary, and tertiary beneficiaries If 100% of the...
