If you own a business and hope that ownership by your family continues beyond your tenure, there are many questions to consider as you begin to transfer it to another generation. Management Succession First, take an audit of contributing family members to confirm their...
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A Primer on Loans Between Friends and Family Members The Federal Reserve Board Survey of Consumer Finances estimates that loan transactions between friends and relatives amount to $89 billion per year in the United States. These loans play an important role in our...
Family farms, particularly in the Southeastern and Midwestern United States, are often maintained for generations. In many cases, these are one of or the dominant asset in the family. Family-owned farms and associated timberland are also a tradition for many private investors, which can...
If something happened to you, would your loved ones know what you have, where it is and what your wishes are? When considering estate planning, most individuals are aware that they should prepare a Will to direct the disposition of their assets and...
Taxpayers who operate farms and ranches in the U.S. could realize significant benefits from changes to the tax laws as a result of the passage of the “Tax Cuts and Jobs Act” late last year. Below is a summary of some changes in...
You already have planned whom will get your assets – your remaining retirement will be distributed amongst your children, profits from your house sale will go to your grandchildren, and your younger brother will get your car. And if there’s anything you...