Navigating the family business into the next generation takes planning. Unfortunately, only 30% of all family-owned businesses survive into the second generation. It is important to have a succession plan in place to ensure the business thrives in the second generation. This plan should include taking into consideration each of the following: 1. Alignment of…
As a business owner, how much planning goes into taking a week vacation? Leaving your business, even for a short period of time, takes planning. Unfortunately, many business owners plan for their vacations, but not for the future of their business. Business succession involves creating a plan for who will take over your business in…
It is essential to review your living trust from time to time. There is no hard and fast rule on how often to review your living trust, but we recommend every five years because finances fluctuate, family situations evolve and laws change. To help guide you through this process, we have put together the below…
Every year I vow to start my Christmas shopping earlier. If I am organized and purchase all of my gifts early, I can enjoy a stress-free holiday season. I failed again this year. I know preparing for the holiday season early will make it more enjoyable. I also know that I must not only purchase…
