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Term vs. Permanent Life Insurance

According to industry experts, most people don’t have enough life insurance. The American Council of ...

The post Term vs. Permanent Life Insurance first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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What Did We Learn about Investments in 2023?

Reflecting on the tumultuous investment landscape of 2023, Buckingham Strategic Partners distilled invaluable insights into their “Top 10 Investment Lessons of 2023.” ...

The post What Did We Learn about Investments in 2023? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Estate Planning Matters for Your Small Business

Small business owners have plenty of things to think about in the wake of a worldwide pandemic that has shaken many things up. But that doesn’t mean you can afford to neglect the importance of proper estate planning or business planning options. Using this time to take a step back and reorient where you want the company to go in the near future is a good way to keep on top of these important tasks and ensure that if something happens to you, there’s a plan in place.

Every business owner has the long term vision and goal that their company is a big success, but it can take a lot of work to get there and even more work to sustain it after the fact. When you need to make a departure from the company, you need to know that you have a succession plan that will serve your needs and give your business the sustainability it needs.

That comes down to systems, a succession plan, and the right people. All of these elements should be in place well before anything happens involving you or another company owner needing to make an exit. One primary reason to engage in business succession planning beyond these basics is that if you’re in a partnership, you can ensure maximum options for the remaining partner should something happen to the other one.

Buy-sell agreements can help to accomplish this task because it ensures that unless intended, the family members of the deceased party are not the ones who get access to the company value. If there’s no buy-sell agreement in place, the business could be tied up in the estate administration if one of the partners of the company passes away. Most buy-sell arrangements for small businesses will automatically allow other owners to purchase the owner’s share in the company, allowing for a smooth transition to what the business looks like in this new iteration.

Are you stuck on how to make the most out of small business estate planning? Now is a good time to discuss all your options with a dedicated business succession planning attorney in NJ. Set up your meeting today.

Schedule your free Exploratory phone call

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can be of assistance.

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listings and become a part of an amazing team.

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Listen in, Join the Conversation!

Recent Posts
Term vs. Permanent Life Insurance

According to industry experts, most people don’t have enough life insurance. The American Council of ...

The post Term vs. Permanent Life Insurance first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
What Did We Learn about Investments in 2023?

Reflecting on the tumultuous investment landscape of 2023, Buckingham Strategic Partners distilled invaluable insights into their “Top 10 Investment Lessons of 2023.” ...

The post What Did We Learn about Investments in 2023? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more