Category: Family Business
“There are things you can do to minimize—or with the right set of facts—eliminate taxes,” says Timothy Jessell, a tax lawyer with Greenberg Traurig in Tysons Corner, VA whose client base is people buying and selling companies. In one case, a client who is selling his consulting company will save $3.8 million in taxes “simply […]
All too often, an entrepreneur convinces himself no one will notice these issues and, once the sale is finalized, they all will be resolved. But as deals are negotiated between buyers and sellers, these top five truths surface over and over again. If you are a business owner and thinking of selling … are you ready? […]
There any many reasons why patriarchs and matriarchs often have great difficulty letting go of the power and ownership of the family business. These may include (as with Queen Elizabeth) a fierce sense of duty, intense popularity, deep familiarity with the business, a desire to complete the heroic mission, and, not uncommonly, an unconscious fear […]
The new tool, developed by researchers from Italy’s University of Milan, could provide doctors with a more objective method that gauges the complexity of a patient’s consciousness. Advances in brain science keep us informed and help us better understand how the brain functions. And when it comes to making end-of-life plans, the more we know […]
Two years ago, Mr. Harris couldn’t scrape together enough funds to start a business that delivered healthy meals. So, he decided to approach his mother for an early bequest. The money would be coming to him anyway, he figured, and she would be able to see him put the cash to good use. As an […]
Money and taxes aside, here are 7 good reasons you need an estate plan… Estate planning is not just about taxes. While it is too easy to focus on taxes, namely avoiding heavy taxation, there is far more to consider when making your own estate plan. Estate planning is truly an activity of planning for […]
If you live in one of the states with an estate tax, you need to take the tax into account when planning your estate … Another state tax to take into account when planning your estate is the inheritance tax. Just when you think you’ve got the whole federal estate tax figured out, you may […]
Many families today are living with trusts that their ancestors established decades ago. In each case, there’s a definition of “family,” either explicitly written into the trust or, by default, applied by its governing law. There are innumerable ways that these trusts might define which family members are eligible to be beneficiaries and/ or remaindermen of […]
Failure isn’t something that most people plan for and that’s a serious mistake. Small business owners know more than anyone about the realities of bankruptcy, either in the form or near-misses or through personal experience. Consequently, no one needs to protect their assets quite as thoroughly or understand bankruptcy like a small business owner. If […]
“This is the thing people who disinherit someone don’t understand: It puts a huge amount of pressure on those who aren’t being disinherited,” says Caschetta, whose experience inspired her to write a book on the subject that she’s trying to get published. “Suddenly you have this rift and they have this choice. ‘Do I do […]
