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 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.
A will is one of the most basic estate planning tools. While relying solely on a will is rarely a suitable option for most people, just about every estate plan includes this key document in one form or another. A will is used to designate how you want your assets distributed to your surviving loved ones upon your death.
