Are you a small business owner? If so, you have likely invested a considerable amount of your time and money getting your business off the ground and operating smoothly. If your business is now turning a profit, and your family depends on that income to pay the bills and maintain the lifestyle to … [Read more...] about Albuquerque Business Succession Planning Tips
Are you a small business owner? If so, the odds are good that you put a significant amount of time, money, and thought into getting your business off the ground. If it is finally showing a profit and appears headed in the right direction, it is now time to ensure that all that hard work and … [Read more...] about What Is Business Succession Planning?
If you are one of the millions of Americans who has struggled to get a small business off the ground, you likely have a small fortune invested in your business, in terms of money, time, energy, and concern. You probably went to the trouble and expense to purchase a variety of business insurance … [Read more...] about Why Is Phoenix Business Succession Planning Important?
I recently wrote on the basics of asset protection. If we get sued, if we go bankrupt, what happens to our assets? For many of us, this the asset protection concept is important – we want what we have worked for to be there for us and our loved ones. You already utilize some asset protection … [Read more...] about Asset Protection Tools and Techniques
Farmers Insurance runs ads with the tag line “What you don’t know can hurt you.” That message resonates with me as I work with clients developing their personal asset protection plan. The most common asset protection issue that I come across involves rental property. Many of my clients have rental … [Read more...] about Rental Property and an LLC
With a year left before the presidential election, the candidates are getting more in focus. One of the top headline-grabbers is Donald Trump. Whatever your political beliefs and your views of The Donald, we can learn a little from him in terms of asset protection. It is no secret that The Donald … [Read more...] about Asset Protection and The Donald
When a person dies, their assets must be distributed. If a person fails to create a will or trust, their property will pass via the state laws of intestate succession. Every state has a specific set of laws providing a sort of default will. For example, if a person dies without an estate plan in … [Read more...] about What Happens if I Die Without an Estate Plan?
A big part of estate planning is asset protection. I don’t think that the concept of asset protection is readily understood, because if it was we would all be working to put asset protection plans in place. So, here is an asset protection primary. First, let’s break down the term. First word is … [Read more...] about Asset Protection 101
Thankfully, I have not needed to employ an attorney. I have heard too many horror stories of how expensive attorneys are. And sometimes, paying all that money to attorney is simply “not worth it.” And you are thinking, “aren’t you an attorney?” Yes, yes I am. The difference is, our practice … [Read more...] about Value in Flat Fees
When establishing an estate plan it is important to consider whether a particular asset has a cost basis associated with it. There are certain types of assets that get a “stepped up” basis when the owner of these assets dies. Not all assets receive a step up. Why is this important? When a … [Read more...] about What is a Step Up in Basis?