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How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

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Is Your Family Business Set Up to Succeed Beyond You?

June 25, 2019

A family business is something that goes far beyond a profit-generating venture. For you and your loved ones, it’s a source of pride and family connection. Which is why it’s important to make sure that proper succession planning has been incorporated in your long-term view of the company.

Did you know that there are three major reasons why family businesses fail? Two of them are directly related to how much forethought you put into the process of planning ahead. One is inadequate estate planning, which has ripple effects not just for your heirs but also for your company, and the other is lack of funds in place to pay estate taxes.

The third major issue affecting the future of a family business is the failure to properly prepare for the generational transition in the company, including who will take over key roles in the business.

While there are probably a lot of moving parts with your company and plenty of them that only you or your key employees are aware of, exit and estate planning might mean going outside of the office and getting the help of dedicated professionals.

This can mean working with an exit and succession planning professional, a CPA, a tax lawyer, and more. In most cases, your family business will have strong personal ties to your individual estate planning, and therefore all your tools should be created with both issues in the back of your mind. They must work together while you’re still part of the business and when you leave for maximum benefits.


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Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
How Insurance Deductibles Work

An insurance deductible is the amount you, the insured, pay before any claim is paid ...

The post How Insurance Deductibles Work first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Enhancing Estate Planning through Heir Involvement

Estate planning goes beyond legal formalities; it’s an essential process that facilitates meaningful family dialogue ...

The post Enhancing Estate Planning through Heir Involvement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Social Security, Medicare, and HSAs

If your employer health plan is a health savings account (HSA) paired with a high-deductible ...

The post Social Security, Medicare, and HSAs first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more