Through the process of estate planning, you’re able to establish, shape, and protect your legacy. But the strategies that will be most helpful to you will depend on your individual circumstances. In this article, you’ll be exposed to a variety of estate planning tools that can help maximize the wealth you’re transferring to those next-in-line. […]
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Estate planning is critical to protecting your life’s legacy. Without it, those next in line face unnecessary challenges in receiving what’s rightfully theirs. But the type of planning you, and your beneficiaries need will depend on the complexities of your estate. For those looking to leave larger amounts behind, or who have assets that could […]
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Filing Form 5500-EZ for your Self-Employed 401(k) Plan There’s good news if you’re a solo entrepreneur or self-employed individual and want to enjoy the benefits of a 401(k) retirement plan: Congress has created a special type of 401(k) plan just for you. Known as a Self-Employed 401(k) or a solo 401(k), this plan is similar […]
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For some investors, the traditional asset categories of stocks, bonds and cash equivalents aren’t enough to ensure a well-diversified portfolio. In such cases, these individuals may want to consider turning to alternative assets in the private market space. Common alternative assets include private equity, private debt, private real estate and hedge funds. Because high-net worth […]
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For some investors, in order to ensure a well-diversified portfolio, the traditional asset categories of stocks, bonds and cash equivalents aren’t enough. In these instances, investors may want to consider turning to alternative assets in the private market space. These are investments that don’t fall into one of the three traditional asset categories. Some of […]
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Does your family-owned business have a succession plan in place? If you don’t, you aren’t alone. Despite family firms making up 90% of all business enterprises in the U.S., 47% of owners who want to retire in the next five years say they don’t have a successor.
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Succession planning is one of those things that many owners know is important, but often don’t get around to doing it. In fact, up to half of small business owners who plan to retire in the next five years say they have not yet named a successor, according to the Service Corps of Retired Executives […]
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As you work toward implementing your succession plan, and ultimately, selling your business and retiring, it’s wise to also be considering the tax implications from the sale of your business. You will likely receive a substantial amount of money for your business or your share of it, which could result in an increased tax liability if you don’t plan ahead.
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Don’t overlook the importance of life insurance and long-term care insurance in your small business’s succession plan. A little work today can mean peace of mind for your family and your business tomorrow.
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You can help to ensure the continuation of your business by creating a detailed succession plan that contains a buy-sell agreement. This agreement is the heart of your succession plan and acts like a will for your business – it states what will happen to the business once your involvement ends.
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Investment Advisory Services offered through C.W. O’Conner Wealth Advisors, Inc., a SEC registered investment adviser.
