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Family Trust

Family business focus: Addressing estate and succession planning

ESOP Employee Stock Ownership Plan, Estate Planning, Family Business, FLP (Family Limited Partnership), Gift and Estate Tax, Succession Plans, Trust /

The future often weighs heavier on the shoulders of family business owners. Their companies aren’t just “going concerns” with operating assets, human resources and financial statements. The business usually holds a strong sentimental value and represents years of hard work involving many family members. If this is the case for your company, an important issue […]

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Benefits of a living trust for your estate

Assets, Estate Planning, Federal Estate Tax, Federal Income Tax, Living Trust /

You may think you don’t need to make any estate planning moves because of the generous federal estate tax exemption of $12.92 million for 2023 (effectively $25.84 million if you’re married). However, if you have significant assets, you should consider establishing a living trust to avoid probate. Probate is a court-supervised legal process intended to

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What lenders look for in a succession plan

Accounting, Small Business, Succession Plans, Tax Planning /

Business owners are urged to create succession plans for the good of their families and their employees. But there’s someone else who holds a key interest in the longevity of your company: Your lender. If you want to maintain a clear path to acquiring the working capital your business may need after you’ve stepped down,

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