A marital trust can help married couples protect assets, provide for a surviving spouse, and control how property is distributed after death. Whether it makes sense for your estate plan depends on your family structure, financial goals, and long-term inheritance goals.
What Is a Marital Trust?
How Trusts Can Protect Your Assets from Probate and Taxes
Imagine your loved ones struggling through a lengthy probate process, waiting months—or even years—to access the inheritance you intended for them. Now imagine the government significantly reducing that inheritance through taxes you didn't plan for. Fortunately, there’s a powerful tool to avoid these costly outcomes: a properly structured trust.
The Crucial Role of HIPAA Authorizations in Your Estate Plan: What You Need to Know
When crafting an estate plan, many people naturally focus on assets, property distribution, and financial security. While these elements are essential, your healthcare decisions and medical privacy require equal attention. A vital yet frequently overlooked part of your estate plan is the HIPAA authorization. Understanding why this document is necessary can...
Mergers and Acquisitions as an Exit Strategy in Business Succession Planning
Every business owner reaches a point where they need to consider the future of their company beyond their leadership. Whether preparing for retirement, moving on to new ventures, or simply wanting to ensure the business continues to thrive, having an exit strategy is essential.
While some owners choose to...
Family Business Succession: Should You Consider a Merger or Acquisition?
For many business owners, keeping the company within the family is the ideal succession plan. However, not all family businesses have the next generation ready—or willing—to take over. When internal succession isn’t an option, owners must explore alternative strategies to ensure the business continues to thrive.
One option...
Maximizing Your Business Value Before Succession: Key Factors to Consider
Succession planning is crucial for business owners who wish to transfer their company to someone else. Whether you plan to keep the business in the family, promote from within, or sell to a third party, a comprehensive business succession plan will make the transition smoother and more profitable.
The Importance of Business Valuation in Succession Planning: Why It’s the First Step
Having a succession plan in place is a critical part of ensuring your business will continue after you step down from running it. The first step in the succession planning process should involve determining your business’s fair market value.
Understanding Business Valuation in Succession PlanningNY Landlord Rights: Right to Access
When is it lawful for a landlord to enter rented property?
NY Landlord Rights: Right to Access Continue reading…
As a landlord, you have certain rights to enter your leased property. Being able to enter the home is critical when it comes to making repairs and inspecting the premises, but entry at just anytime is not...
How to Fund a Buy-Sell Agreement: Key Options to Consider
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...
Tax Considerations in Buy-Sell Agreements: What You Need to Know
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...