Tag Archive for "Succession Planning" - David Wingate's Estate Planning and Elder Law Center

Unique Assets Require Unique Planning For Risk Management

Not so fast: With unique assets, things aren't always straightforward. More specifically, owners of unique assets – such as family businesses, legacy real estate and valuable art, coin and other collections – need to consider specialized risk management. When you own a small business, and especially if you and your family are the sole owners of a not-so-small business, it’s important to remember that personal planning and financial planning are not separate activities. Unique assets call for comprehensive planning; whether legacy real estate or a valuable collection, but this is especially true if the asset is a business. Financial Planning…

If you enjoyed that last summer outing to your vacation home, maybe it’s a good time to start thinking about creating a succession plan for the property.

For those of you with still-fresh memories of this past Labor Day weekend out at the family cottage, now may be the time to take action to ensure that future Labor Days and summer outings will continue to be enjoyed by your family long after you are gone. In other words, ensure the future of the family cottage and the peace and domestic tranquility of your family through proper estate planning. So, how do you do that? The Wall Street Journal Online recently touched on the topic. The best way to leave an inheritance that includes a family vacation home…

Most workers, given the still fragile economy, are trying to hold on to their jobs, not ease out of them. But as nest eggs begin to recover, many of us will begin thinking again about when and how to walk away from work. As such, phased retirement is l

In a continuation of their previous article about test-driving your retirement plans, SmartMoney recently offered a reminder about the prospect of a transitional retirement – which may be the best way for some to leave the workforce. Retirement doesn’t have to be a climactic stopping point, where yesterday you were working full speed ahead and today you’re at full stop. From a financial planning standpoint, it’s difficult to transition from a full working income to a retirement income – especially if your retirement accounts took a recessionary hit. From an emotional standpoint, the abrupt lifestyle adjustment may be difficult to…

Posts Tagged ‘Succession Planning’

Unique Assets Require Unique Planning For Risk Management

If you enjoyed that last summer outing to your vacation home, maybe it’s a good time to start thinking about creating a succession plan for the property.

Most workers, given the still fragile economy, are trying to hold on to their jobs, not ease out of them. But as nest eggs begin to recover, many of us will begin thinking again about when and how to walk away from work. As such, phased retirement is l

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