Do not act as if you had ten thousand years to throw away. Death stands at your elbow. Be good for something while you live and it is in your power. –Marcus Aurelius, Meditations Building a successful business likely took you years of deliberate planning. From your initial business plan to now, you’ve built something worth protecting and worthy of …
Do you remember trying to solve a complex maze as a child? You’d start at the beginning, trace a line toward what you thought was the correct path to the end, only to run headlong into a wall. So, you’d start again, only to run into a different wall. But then, someone who had experience solving complex mazes may have …
Trust is the foundation of love and one of the key elements of what binds families together. A financial trust can function much the same, helping you to care for the most important people in your life after you are gone. What is a Trust? A trust is a fiduciary relationship in which a grantor transfers assets to a trustee, …
Imagine building your business over several decades, beginning to plan your business exit, then dying unexpectedly before you can implement your plans. Business owners rarely think about how an unexpected death or permanent incapacitation can derail even the most carefully created plans. And it makes sense: If you were always worried about what could go wrong, chances are you’d have …
Exit Planning can be complex. Between setting your exit goals and transferring your business, you’ll attempt to build business value, find an appropriate successor or buyer, navigate perplexing tax implications, and keep your key employees onboard. And that’s just a few of the things you’ll do! With so many considerations surrounding your business exit, you may want to consider creating …
WHAT property do you have? WHY do you want to transfer it? WHO do you want to receive the property? WHEN do you want to transfer it? HOW do you legally transfer the ownership of the property? Answering these five questions will help you develop a plan for transferring your property to the next generation. WHAT types of property do …
The beginning of a new year presents an opportunity for investors to recalibrate and review their goals. Often among these is a renewed endeavor to give back in a charitable fashion. While it may seem counterintuitive, the appropriate planning techniques make it possible to maximize return, enhance tax efficiency and satisfy philanthropic ambitions. In lieu of traditional donations, these techniques …
When people make their resolutions for the new year, money is one of the most common themes. Whether it’s paying down debt, increasing savings, deciding to start a business or planning a vacation, money often touches our goals for the new year, whether directly or indirectly. Making sure your retirement savings is in order should be a priority for you …
Originally published in the Knoxville News Sentinel Since I have been writing about my journey with my parents, I thought I would continue on the path of things we all need to do for ourselves, as well as our loved ones. There are three points that I would like to make in this article: advanced health care planning, your legacy …
