If you've been following along with HBO's "Succession," you're no stranger to the complex world of the mixing of business, politics, and family dynamics in a family business. While most small business owners wont have to deal with the hostile takeovers, internal power struggles, scandals, and per...

Or, as Grandpa was actually trying to teach me, make a plan and follow through. And when it comes to your financial affairs and personal responsibilities, having the proper estate plan in place is essential. Estate planning is important in California for several reasons, some of which are: ...

Being the first one on the scene can come with many different risks. We are dedicated to protecting our first responders and their loved ones from the different types of emergencies that may pop up during their life. The following are some important questions for first responders to consider that...

Many of us do not start thinking about life insurance until we get our first full-time job and the company's human resources representative asks us if we want to enroll in the employer's group life insurance policy. Most people think “Why not?” and sign up, naming a family member as the beneficia...

In 2008, Congress recognized the need for the public to understand the importance and benefits of estate planning by passing House Resolution 1499, which designated the third week of October as National Estate Planning Awareness Week. Nevertheless, according to a 2021 survey conducted by Caring.c...

Financing is the lifeblood of a business. During good times, business financing can help entrepreneurs purchase assets, expand products and services, add a new location, and hire more staff. During more difficult times, business owners may require financing just to continue their current operatio...

A common misconception people have about life insurance is that they only need to designate their spouse, child, or loved one as the beneficiary of the policy to ensure that the life insurance benefits will be available to the beneficiary when they die. Life insurance is an important financial an...

Running an effective and profitable business successfully without good employees is hard. Finding good employees without offering them competitive pay is all but impossible. Employee compensation is more than an expense - it is an investment that, when made in the right individuals, appreciates o...

Part of protecting those you care for when you die is making sure that a proper estate plan is in place. While having a plan is essential, no estate plan can carry out your wishes without the right amount of money available to fund your goals. Life insurance is an option that helps many people pr...

Hiring your kids to work in the family business can be a dream come true for many moms and dads, and if planned properly, it can be a win-win for both you and the kids. Having your children as employees can offer you tax advantages not available with other employees, and there are also potential ...

As I continue to counsel single individuals on the benefits of having a plan in place should they unexpectedly become incapacitated (or worse), I've notices a commonality to their beliefs when it comes to preparing a trust or will. Below I summarize a common myth and a few questions that are oft...

Paying employees is among the top legal obligations of employers. Whether due to financial difficulties or worker conduct, not only is it a bad idea, it is generally illegal to withhold payment from employees. The U.S. Department of Labor (DOL), as well as state labor boards, have strict laws th...

A comprehensive estate plan consists of several documents that accomplish three important things. First, they lay out your wishes for the handling of your money and property during life and at death. Second, they explain your medical wishes if you are no longer able to make them yourself or commu...

If you've veer owned or worked in a family-owned and operated business you're no stranger to the strange blending of personal and professional lives that can occur. While the time I spent working with my dad at the family restaurant and brewery certainly had some great moments (including meeting ...

If you're unmarried or not in a long-term relationship, you may feel overwhelmed when you think about who will step in and make decisions for you if you're not able. You may even have wondered who will receive your money and property when you die. While many consider parents or siblings to be tho...

Your family and your business are two of your top priorities. You would not do anything to compromise either of them. But working with family members in a family-owned business presents unique challenges that can cause lasting damage to both if not properly managed. Family-owned businesses are c...

Do not let constant political and financial speculation prevent you from making tax-free annual exclusion, medical-payment, and educational gifts to or for the benefit of your loved ones. Make Annual Exclusion Gifts Annual exclusion gifts are transfers of money or property in an amount or value ...

You may have been running around for weeks, getting your new college student off to school. It's exhilarating, and your heart likely is bursting at the seams. You're probably prouder than words can express, but you're also a little afraid, too. How can you make sure your kid is going to be safe...

According to a study conducted by Caring.com, the percentage of people aged fifty-five and older who have created a will has fallen from 60 percent to 44 percent since 2019.[1] Although creating or updating your estate plan may seem like a daunting task, proper planning can help address the conc...

“Basis” is a term used frequently in tax law. But for many, the term is unfamiliar and intimidating—perhaps something they feel is better left to a certified public accountant to worry about. Nevertheless, a basic understanding of the concept can be very helpful for understanding important estat...