Murdoch’s succession plan sheds light on whether an irrevocable trust can truly be changed, revealing key insights for estate planning.
Learn how trusts can protect your heirs’ inheritance from creditors and safeguard your family’s financial future.
A new federal law, the Corporate Transparency Act (CTA), effective Jan. 1, 2024, impacts almost all limited liability companies (LLCs) and small corporations in the United States. Businesses now have new reporting requirements annually, and these changes may lead to new challenges for small and family business owners. This article provides an overview of the new reporting requirements…
Family business succession planning is a critical and often challenging process for many family-owned businesses. The goal of a successful succession plan is to ensure a smooth transition of the business to the next generation, preserving the legacy and values that have been built over the years…
Most estate planning starts with a will. The legal document covers what to do with your assets and provides important direction on the care for minor children.
A frequent complaint by next-generation members is that the senior generation never fully lets go of business tasks.
Failing to properly plan for disability, death, or the ultimate transition of a family business can lead to disastrous financial consequences for both the business and the family.
People often overlook critical steps when they are doing their estate planning.
These vehicles let a family manage multiple interests, preserve parental control and protect assets from claims of creditors and divorcing spouses, among other benefits.
These vacation homes may also comprise a significant portion of the family’s wealth. Therefore, it’s understandable that homeowners want to pass their properties and family traditions to future generations.
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