What happens to your business when you die? The answer depends on how your business is structured. In most cases, the outcome without a plan in place is far worse than owners expect. Your business does not simply pass to your family the way a bank account does. Depending on your entity type, it may […]
Business Planning
Small Business Succession Planning With Your Legacy in Focus
Whether you run a winery, a farm, a restaurant, or a professional practice, your business represents years of hard work and dedication. Yet many business owners overlook one critical question: What happens to the business when you step away or pass on? Succession planning ensures that your business continues smoothly, protects your family, and preserves […]
When Smart Money Acts Dumb
When the FTX exchange collapsed and filed for bankruptcy in November 2022, reverberations rippled across the cryptocurrency universe. Investors across the board lost millions, from venture capitalists, hedge funds, and large asset managers (known as “whales”) to tiny accounts of a few thousand dollars. It is widely assumed that smart money always makes the right […]
How to Create a Business Succession Plan
Knowing how to create a business succession plan is essential for any business to ensure continuity and stability in the case of an unexpected event. A well-crafted succession plan places the right people in leadership roles and outlines specific procedures for how operations will be managed in the event of an emergency. There is an […]
Gig Workers Retire, Too
Although they may be treading a different path, sooner or later, most independent workers (“gig workers”) would like the option of slowing down, even if no one will be giving them a gold watch. Many gig workers alternate between stints at corporate employment and periods of self-generated projects. Others have fully embraced the independent […]
How to Choose the Right Probate Lawyer
Maybe you have been named executor in a will. Or, for an added wrinkle, suppose there is no executor or those named are either dead or unavailable. Compounding the problem, imagine you have decided the named executor is not up to snuff and must be replaced. In this article, we’ll provide valuable insight into how […]
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