Studies consistently find that only about 25–35 percent of Americans have an estate plan, a shockingly low rate when you consider that, in the absence of a plan, the state—not you or your family—decides what happens to your assets, including your business interests. The overall business succession planning rate is higher, with about two-thirds of business […]
People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the property without it having to go through probate. Also, joint property […]
Many Americans dream of leaving their nine-to-five job to start their own business—and in recent years, more people than ever have been doing it. A record number of new business applications were filed in 2023, marking the third consecutive year of historic small business growth and adding to the economic engine that drives the US […]
For many business owners, their business is one of the most valuable and important things they own. When it is time to sit down and create an estate plan, it is critical that business owners plan for their business just as they would plan for their home or finances. Effective business succession planning ensures a […]
