If you want your business to continue after you retire, a solid succession plan could be essential. Given that some small businesses fail because of poor planning, you should know which mistakes to avoid as you compose a strategy to pass your business to a new owner....
Estate Planning
3 ways to avoid a contested will
After a death, emotions often take a turn when it comes to a will, with some family members deciding that they should contest it. While 46% of U.S. adults who do not have a will in place leave their loved ones in a lurch, according to a Gallup survey, you want to...
3 situations where you should update your estate plan
An estate plan is a valuable way to ensure that future generations will benefit from your hard work and accompanying wealth. However, an out-of-date estate plan can complicate your final wishes. Here are three situations that warrant an update to your estate plan. 1....
Estate planning: how to prepare for your death
Estate planning goes far beyond writing a will. Creating a thorough estate plan means going through all your belongings and making the transfer of your belongings and accounts go smoothly. It is the best way to ensure that others follow your wishes after death....
Isolated seniors may be vulnerable to undue influence
Creating a comprehensive estate plan is one of the more effective ways to maintain control over what happens to a person's assets after he or she dies. Nowadays, though, many estate plans also deal with end-of-life matters, such as critical care decision-making,...
Creating a succession plan for your small business
It is a proactive and prudent responsibility to set in place a written plan of succession for your business. Many small businesses go under after the death of the original owner because there was no clear plan in place. Business agreements are separate from the will...
4 easy ways to start estate planning
Estate planning can seem like a daunting or depressing task. However, without proper planning, you will not have a say in how the state divides your assets. If the process seems difficult, make small, simple steps to at least cover the basics of estate planning. 1....
When is it time to update your estate plan?
How to choose a power of attorney
A Power of Attorney plays a very important role in your estate planning. The person you designate must act in your best interests and can make decisions on your behalf should you become incapacitated. Choosing the right person for this role can be difficult. This...
Important estate planning documents other than your will
There is a lot more to estate planning than writing out your last will and testament. If you want to ensure your heirs can follow out your wishes in the quickest and most effective manner after your passing, you will need to provide as much detail about your estate as...