Archive for Estate Planning
Anna Nicole Smith: A legacy of not planning for the future
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There is an Associated Press article on Law.com about the mess that Anna Nicole Smith left behind for her estate. In addition to the paternity suits, DNA tests and jurisdictional wars between the Bahamas and the U.S., there is also the highly personal tragedy of an infant daughter who will never know her mother. This tragedy, and the uniqueness of Smith’s life underscores the need for proper and up-to-date estate planning.
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Financial Statements and Fund-ability Disraeli once said that "there are three kinds of lies: lies, damned lies, and statistics." In business, some of the "statistics" that can tell such damning lies are the numbers found on company balance sheets and income statements. Too often, the reality is not accurately reflected in the numbers. Accounting...... -
The Lost Art of Giving Thanks My appreciation for the Thanksgiving holiday has matured over the years. There was a time when all Thanksgiving really meant to me was a great meal by my grandmother that inevitably turned into an eating contest with my younger brothers, followed by a football game on TV as we lay......
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Family LLCs: Sharing the Wealth
Posted by: | CommentsFor years promoters have touted the use of Family Limited Partnerships (FLP) as a tool for owning and protecting assets and providing a mechanism for passing them on to the next generation. The FLP has been used so frequently that it could lead one to the impression that the FLP is a separate kind of entity. It isn’t. It is simply a Limited Partnership used for family purposes. Similarly, the LLC is becoming used for family purposes, which has coined the usage of the Family LLC.
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Protecting Your Credit in Economic Decline The "credit crisis" has become ubiquitous. It is being blamed for everything from home foreclosures to a plummeting stock market. Many individuals and most businesses are feeling the pinch from the credit markets today. Which is precisely why it is so important to carefully manage and protect your personal and...... -
11 Steps to Giving Employee Negative Feedback Every successful entrepreneur eventually has the experience of giving what is perceived to be negative feedback to an employee, manager, vendor, or partner. Providing this kind of feedback is essential to leadership, and it is the most direct way to provide direct reports with information on how they are performing. ......
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