A buy-sell agreement is a contract stating when and how business owners can buy out or sell a co-owner's share when the owner leaves the business. An effective buy-sell agreement should always include a plan to fund the ownership transition in the event of one of the owner's deaths, retirement, or...
When creating a buy-sell agreement, it’s important to consider the many tax considerations involved. Working with an experienced attorney can help you navigate the tax-related challenges of implementing a buy-sell agreement.
A buy-sell agreement is an important tool for business owners creating a business succession plan. If multiple...
Planning for the future can feel daunting for solo agers. Unlike traditional family setups, solo agers—those who may be single, childless, or without nearby relatives—face unique challenges when preparing for their later years.
While these challenges can seem complex, there are straightforward ways to ensure your wishes are honored...
Aging independently is rewarding, but it requires thoughtful planning to ensure your future remains secure and fulfilling. Estate planning is especially important for solo agers, as it can address unique concerns and provide a sense of control over your legacy, healthcare, and finances. This guide covers essential estate planning tips for solo...
Many retirees split their time between two states, enjoying the best of both worlds. While this lifestyle offers benefits, it can also complicate your financial and estate planning—especially regarding taxes. Snowbirds must understand how dual residency impacts estate taxes to avoid surprises and ensure their loved ones are financially secure. Here,...
Many retirees find joy in splitting their time between warmer climates during the winter and cooler ones in the summer, making them what many call "snowbirds." If you have dual residencies, ensuring that your estate plan considers the legalities and tax implications of living in multiple states is crucial. Let’s explore...
A power of attorney (POA) is an essential document in an estate plan. It grants someone you trust the authority to make decisions on your behalf if you're unable to do so. Whether it involves managing your finances or making healthcare choices, a well-crafted POA ensures that your wishes are honored. However,...
A durable power of attorney (POA) is a vital legal document granting someone the authority to make certain decisions on your behalf should you become temporarily or permanently incapacitated. Whether handling financial matters or medical decisions, a well-crafted POA ensures your wishes are carried out when you cannot act.
If you have a loved one who is entering assisted living, you may feel like there isn’t much you can do for them. After all, they will have a staff who can take care of their daily needs. And because they are in a facility rather than at home, you will have...
If you are getting older and own your home, you may have a difficult decision ahead of you: will you continue to live at home, or will you move into assisted living? This choice is particularly important because it affects not just you but your loved ones as well.
