Estate Planning

Business owners have a lot on their plate, and estate planning often falls to the bottom of their list of priorities. Some say they have too much to do; others fail to see the value of this type of planning. However, there are real consequences when a business owner...

Owning a business has proven especially challenging in the last year and a half. And these challenges have prompted many owners to make business succession a top priority, with many deciding to retire early or sell their business. If you are pivoting or rethinking...

On September 13, 2021, the House Ways and Means Committee released the text of the proposed legislation to fund the Build Back Better Act. In addition to reducing the current lifetime gift/estate and generation-skipping transfer ("GST") tax exemptions by approximately...

A business succession plan is a vital tool in establishing the wishes of an owner and protecting a company's future. If you run a business, you can best preserve your legacy by avoiding the following common missteps when it comes to your succession plan. Mistake #1:...

Thinking about your legacy and the gifts you want to leave to your children can happen long before you want anything to change. It can start the day your child is born, or you decide to open a new business.  Eventually, you will likely want to do more than think about...

It is critical for business partners or co-owners to make a plan for what will happen to their business should something happen to one of the partners – whether that means one partner retires or passes away. Many California partners opt to create a buy-sell agreement....

Business owners must take several steps to create an effective succession plan. After all, there are many aspects of succession required to ensure that the business – and its legacy – continue. One of the essential steps business owners must complete when creating...

When it comes to running a successful business, attention to detail and organization are critical. These characteristics are also important for business owners to implement when it comes to their estate plan. An organized estate plan is an effective estate plan. And...

One of the most important aspects of running a successful business is mitigating any risks the business could face. This requires business owners to adapt and plan effectively for the future. Unfortunately, this often means that California business owners must...

Many sources, including this blog, advise business owners on how important it is to begin succession planning early. After all, an effective succession plan is not only a plan for a business owner’s retirement. It is also a plan to protect the business’s assets and...