One of the most important decisions you must make when planning your estate is selecting an executor. An executor’s duties include determining the value of your estate, paying outstanding debts, filing tax returns, maintaining a record of all transactions, and ultimately, distributing the remaining assets to your heirs.
In a highly competitive job market, attracting and retaining the best employees is not always an easy task. You need to take advantage of all strategies at your disposal. A nonqualified benefit plan can help you “sweeten the pot” for your top performers.
There are many reasons why it is important to obtain an appraisal for each item of value among your possessions. Appraisals provide you the necessary documented proof of ownership and value, in the event that the information is needed for tax and/or insurance purposes. You may not be able to put a price on your antique clock, but an independent appraiser can.
The deductions individual business owners can take advantage of and the value of these tax breaks will vary considerably depending on the nature of their business activities, their income levels, and other factors that they may be able to adjust to maximize their tax benefits.
Handling the death of a loved one is never easy. However, an updated inventory of vital financial information can help you make this process easier for those you leave behind.
Be sure to consult an estate planning team comprised of an attorney, tax advisor, and financial professional to help you develop the appropriate strategies for your situation.
Long-term business planning and budgeting are important to the ultimate success of a business. The creation of a long-term personal financial plan and investment strategy is critical to the success of the business owner.
Aging seniors and/or family caregivers are advised to periodically review existing financial, health care, and living arrangements. In the transition to the later stages of life, changing needs and concerns often require revisiting prior plans and updating or revising them accordingly.
Starting a new business can be an exciting prospect. However, securing capital to begin operations can often be frustrating and difficult. While there are a number of potential sources of financing available, typically, personal funds are one of the most common, primary sources of start-up capital.
Have you every wondered how estate planning might fit into your overall, future plans? Even if you are just starting to build your estate and do not need complex estate planning, here’s a quick look at some steps you should consider taking immediately in order to protect your family and to reduce potential expenses in the event of your death.
