Asset Protection Trusts Offshore

When an affluent individual or family has very high potential for liability and lawsuits (such as a physician), domestic asset protection strategies might not be enough.  It sometimes makes sense to use international offshore planning strategies. Offshore entities have the reputation of “hiding” assets or of being used to evade taxes.  However, asset protection trusts have nothing to do with … Read More

The Role of Sales People in Your Business

The role of sales in any business is to develop prospects and close new business. It is the primary source of revenue, and though expense management also plays an important part, the sales function is the biggest contributor to the “bottom line” of profitability. The role of sales can be distinguished from the role of business development.  Business development typically … Read More

You Can Trust You Children, Right?

Estate Planning for Families

Jane was one of five children. Her mother, Ellen, was 87 and had been ailing for some time. Jane’s oldest brother, Bob, had been given a power of attorney by his mother to act for her. Under the power of attorney, Bob had broad powers. He also had access to all of Ellen’s accounts. The rest of the family had … Read More

The Top 10 Estate Planning Issues

A colleague of ours recently assembled a list of the top 10 estate planning issues. This list is a great tool to assure that key items are not overlooked. All of these issues deserve  thoughtful consideration. They can also create major problems if not dealt with in advance. Probate – Court supervised administration of your estate is never a pleasant … Read More

Disinheriting an Heir

It’s never an easy decision for a parent to disinherit a child. However, in some cases, a child’s behavior is so reprehensible, or the relationship has been so damaged, that a parent feels it is necessary. The first thing to remember is that your children do not have a legal right to your estate.  You earned the money and built … Read More

People are Usually the Key to a Successful Business

People are usually the key to the success and growth of a business.  Most business owners have very high hopes for the people they hire. However, most owners have also been amazed to watch the transformation of some of these employees from motivated go-getters to drifting, lackadaisical annoyances! Why does this seem to happen to a large percentage of the … Read More

Outgrowing the Sole Proprietorship

Jerry Sims started his small business from scratch, and has always run it as a sole proprietorship. Now that his revenues have become predictable, and he’s added employees, he knows he needs to operate more formally as a business entity. In fact, his accountant and attorney have been bugging him to make some changes. So how does Jerry choose between … Read More

Does Account Ownership Really Matter

Mary and Paul had been married for over 50 years. Lately, Paul’s health had begun to fail and he needed Mary’s assistance more and more. Their adult children all lived in different parts of the country, and were unable to help out on a regular basis. Mary was happy to do it. She loved her husband, but she also felt … Read More

Your Great-Great-Grandchildren Will Know Your Name

elder law

If you ask most people, they can easily tell you the names of their grandparents, and in some cases, their great-grandparents.  But it might surprise you how many people do NOT know the names of their great-great-grandparents or generations older than that.  However, if your great-great-grandparents had left you millions of dollars in trust, it is much more likely that … Read More