Why should every business owner consider or revisit business succession planning at this time of year? The simple answer: Business succession planning protects owner and company alike. It protects all of the hard work and investment you've made in your business, now and in the future. 3 Key Takeaways About...
Create a New Trust or Update an Existing Estate Plan
If you wish to create a new trust or update an existing estate plan you will need skill and expertise across many separate disciplines: tax, estate planning and legal services. These disciplines are seamlessly integrated at Allen Barron to provide a much more comprehensive level of insight and advice at...
Passing a Business or Wealth to Your Children
A well-structured trust is a central estate planning tool for small businesses and closely held family business owners when passing a business or wealth to your children. This includes heirs, beneficiaries, and future generations of your family and spouses while minimizing the impact of taxation and maximizing control. The state...
Trust and Estate Planning for Business Owners
Why is the end of the year a good time to consider trust and estate planning for business owners. Do you own real property or have other investments outside of your business interests? Have you given any thought to what would happen if you become ill or incapacitated and are...
Success is Built into Business Succession
Isn’t it interesting that success is built into business succession. Still, the majority of US companies do not have a business succession plan in place. What is business succession planning and how does it enhance your own success and that of your business? The Important Questions at the Heart...
Business Succession Planning Protects All You’re Working to Build
What is business succession planning and why is this an important and essential component of forming any new entity? Business succession planning protects all you’re working to build by ensuring sound management decision making continues if you are disabled and after your passing while assets are passed to the next...
An Unfortunate Lesson in Estate Planning from David Cassidy
We may have learned an unfortunate lesson in estate planning from David Cassidy this week. His death has brought several life lessons to light, and one of them is a reminder to update your estate plan and trust documents every two to three years. Things change. David Cassidy's daughter Katie was...
Haven’t Updated Your Estate Plan in a While – Reasons Not to Wait
The Wall Street Journal recently wrote a warning in case you haven't updated your estate plan in a while and reasons not to wait. We've seen the same scenarios in our decades of services as estate planning, trust and tax attorneys here in San Diego and throughout the Southwest. Usually...
Keys to Successful Business Succession Planning
What are the keys to successful business succession planning and when should you start? If you own a business, from an LLC to a large multinational corporation, you should have a succession plan in place. The unfortunate fact is less than 20% of California business owners have actually implemented a...