Forbes Asia recently interviewed a fast food entrepreneur in Hong Kong who shared insights into business succession that are universally applicable. Although family businesses account for 80% of the global economy, next to divorce and bereavement, succession may carry the greater stress. The letting go process for an owner can be a real psychological barrier. In any plan, family must come first, then business.
The harmony, relationship quality and consensus is important for any person in planning a business succession. It is also important to consider a family assessment of ages, talents and wishes and this should be discussed in a transparent manner.
Forbes Asia recently interviewed a fast food entrepreneur in Hong Kong who shared insights into business succession that are universally applicable. Although family businesses account …
Part of prudent cost prevention lies in understanding the spectrum of health for seniors as well as the spectrum of costs. Home care of a …
As art collections increase over time, they become more important in terms of estate value. They can also become more problematic if the heirs are …
Holidays are, for many families, a gathering of multiple generations and if entered into properly, could be an uplifting opportunity to discuss both past living …
As we cannot protect your life in every possible contingency, a good defense can be a good offense against those who would otherwise take your …
It’s estimated that between 80% and 90% of businesses in United States are controlled by or owned by families, and as many as one-third of …
Both enrollment and spending on Medicaid rose just under 14% in the last fiscal year. But the good news was that the per person per …
Any person should have these three end-of-life documents in his or her arsenal. While many estate planning documents consider your options after you pass away, …
Parents should have a plan to avoid court intervention at the time of death. Minimizing costs while maximizing assets should be a primary goal of …
According to recent research by NerdWallet, only 2/3 of couples have proper insurance and 43% of those couples say they are not financially prepared …
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From estate planning to values‑based giving, learn how to transform your windfall into wealth that endures across generations—and aligns with your deepest purpose. Windfalls are rare. Generational wealth is rarer still. For business owners, legacy‑minded families, or anyone who’s recently come into a substantial ...
<p>The post Turning a Windfall Into a Lasting Legacy: Long Term Planning for Generational Wealth first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>
Discover the most frequent mistakes windfall recipients make—overspending, poor tax planning, emotional missteps—and learn how high‑net‑worth individuals can avoid them. A large, unexpected sum of money can feel like unlimited possibility. ...
<p>The post Common Pitfalls After Unexpected Wealth—and How to Avoid Them first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>
Learn how the new SALT deduction cap in the One Big Beautiful Bill may create a tax torpedo for high-income earners—and what strategic planning can help you avoid it. How the New SALT Deduction Cap Could Trigger a Hidden Tax Spike—and How to Avoid It The recently proposed One Big Beautiful Bill (OBBBA) introduces sweeping tax changes—none more significant ...
<p>The post How the New SALT Deduction Cap Could Trigger a Hidden Tax Spike—and How to Avoid It first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>
