Fewer than one-third of family businesses survive into the second generation, while only 13 percent make it to the third generation. But here are some tips for a successful family business succession and how you can beat the odds and help your business live on for generations to come!
The care provided by nursing homes and assisted living facilities is becoming increasingly important as people are now able to live longer. However, the cost of such care is often too costly. Unfortunately this can make the services inaccessible to those with chronic illnesses or disabilities on fixed incomes.
The decision to purchase life insurance is a big one. While you may be thinking about your family, it’s important to think about the beneficiaries of your estate plan. A life insurance policy leaves behind financial assets and can help provide for loved ones in the event of an unexpected death.
When you create your estate plan, the idea that one of your adult children would ever use their inheritance to bankroll a cult is probably something you’d never dream of, much less anticipate.
