How to Handle Conflicts in Family-Owned Businesses
Conflicts are inevitable within businesses and families. Personal rivalries, differences of opinion, competition for resources, and questions of prestige can set individuals at odds and lead to warring factions with competing loyalties. Resolving conflicts in both...Business Trusts 101: What Entrepreneurs Should Know about Using a Business Trust
Trusts are usually associated with estate planning, but trusts can also apply to business operations. As a small business owner, you can hold the business in a trust instead of using a business entity such as a limited liability company (LLC) or corporation. Business...How to Talk to Your Family About Business Succession
Benjamin Franklin famously quipped, “If you fail to plan, you are planning to fail.” From the very beginning, you had a plan for your business to succeed. You set goals and developed methods to achieve those goals. Your business has stood the test of time because you...Prodigal Son Breaks News To Dad That He Spent His Entire Inheritance On Gender Studies Degree
I stole the title of this post from a great Babylon Bee article that just came out. For those who don’t know, Babylon Bee is satire. Strangely, their satirical articles often do come true. And this particular title hews closely enough to family settings often...Morro Bay Finds Time to Support Baby Murder, While Racking Up Water Code Violations
Only a few months after enacting harmful gun control putting families at risk, Morro Bay City Council on January 25th passed a resolution supporting abortion rights. You might think the Council had better things to do, like maybe avoiding fines of $10,000 or...Hobby Lobby Celebrates ‘Christ the Lord’ in Full-Page Christmas Ads
The reason for the season. "Today in the town of David a savior has been born to you; He is Christ the Lord." – Luke 2:11https://t.co/ePL8UKhjFY pic.twitter.com/P6L4hBPHeg— Official Hobby Lobby (@HobbyLobby) December 25, 2019 Do you have a...Family and the Revolution
Excerpts: Christianity elevated matrimony to a sacrament, affirming its indissolubility. When the Roman Empire collapsed the only reality which endured to form the basis of a new society was the family. The birth of the Middle Ages coincided with the...Return of the Gun Trust: AB 1292 Eases Estate Planning for California Gun Owners
When Governor Newsom approved AB 1292 on July 12, he made estate planning easier for California gun owners. Why would Sacramento Democrats make death easier for us? I can only speculate, but I’m guessing it’s because the confusing state of the law put non-gun...12 Rules for Life
Highly recommend this book by Jordan Peterson. You have to read the book to really understand his 12 rules, listed below. While it goes off on a few philosophical tangents I’m not sure I agree with, the book is a treasure chest of ideas you might include in...Inside America’s Evangelical ‘purity movement’ where teen girls make pledges to their fathers to stay virgins until they get married
Sounds like a good idea, possibly for inclusion in incentive trust planning: “I want to make a promise to myself and to God that I will stay pure until I get married. “I don’t have to have sex to know that I am loved.” The Purity Movement preaches...Ash scattering at Disneyland’s Haunted Mansion a regular spectre
There are lots of ways to die embarrassed. Bad estate planning is one example; see the category above for others. Nothing can top being trampled for eternity while listening to bad puns! Seriously, have you given thought to the ultimate disposition of your remains? Do...FPC 20180522: Family Power & The Catholic Second Amendment
The second item in our Bill of Rights is actually a very Catholic Second Amendment. This may surprise, since although the Catholic Church has a reputation for defending a number of aspects of Family Power, our bishops are not exactly known as big gun rights...FPC 20180206: Family Protection
The term “family protection” is used in many different contexts. For example, in insurance planning it often refers to the concept of “income replacement” for a family bereft of its primary breadwinner. What should “family...Abortion rate drops to historic low, yet women having fewer children than ever
The abortion rate in the US has plummeted to an historic low: In 2014, there were 12.1 abortions per 1,000 women of childbearing age – down from 19.4 in 2008. On the other hand, in England women are having fewer children than ever: The same generation also had...Young men giving up on marriage: ‘Women aren’t women anymore’
Fewer young men in the US want to get married than ever, while the desire for marriage is rising among young women, according to the Pew Research Center. Pew recently found that the number of women 18-34 saying that having a successful marriage is one of the most...Seven Tips For Managing Sibling Wealth Disparity
The starting point for dealing with wealth disparity is having a common understanding of what family means for this generation and developing a shared vision for how to be a family in the future. This shared vision, based on the identification of shared values...Former transgenders share sex change regret stories in new documentary
Mastering Life Ministries’ 850 videos were recently all barred from Vimeo. Many of the videos addressed healing from childhood sexual abuse, sex trafficking, and pornography addiction. Source: Former transgenders share sex change regret stories in new...Bishop Schneider: the Catholic family is the first bulwark against the current great apostasy – Voice of the Family
“The family therefore holds directly from the Creator the mission and hence the right to educate the offspring, a right inalienable because inseparably joined to the strict obligation, a right anterior to any right whatever of civil society and of the State,...Duke Paul von Oldenburg: the proper role of parents in the formation of their children – Voice of the Family
This content is for members onlyHow Boomers Are Redefining ‘Legacy’
Some families construct a legacy of memories and real estate, say by buying a vacation property that is held in a trust or other structure so it is equally owned by all heirs. “That keeps it intact for at least another generation and ensures that it is not...“Estate Planning” Needs an Extreme Makeover
Great article. Personally, I call my practice “family protection” law and the author appears to be on the same page as me. In its most fundamental state, estate planning should support the family (or the individual) first, and thereafter concern...Pushing Wealth Transfer Plans Into The 21st Century
Among affluent families, the disconnect between what their current wealth transfer planning does, and what they want their planning to do, is staggering. While 75 percent of wealthy parents say it’s important to leave an inheritance to the next generation, only...Introducing the IT-LIT: Irrevocable Terror Life Insurance Trust
Are 72 virgins really enough? What if they turn out to be 72 Virginians? If you are bound and determined to blow yourself into smithereens or commit some other irrevocable act of terror, at least buy some life insurance so your (surviving) descendants can live like...Census: More Americans 18-to-34 Now Live With Parents Than With Spouse
The Number 1 living arrangement today for Americans in the 18-to-34 age bracket, according to the Census Bureau, is to reside without a spouse in their parents’ home. Source: Census: More Americans 18-to-34 Now Live With Parents Than With...Protect multiple generations with a dynasty trust
Regardless of the tax implications, there are several nontax reasons to set up a dynasty trust. First, you can designate the beneficiaries of the trust assets spanning multiple generations. Typically, you might provide for the assets to follow a line of...Homosexuality’s health hazards: Word is getting out
Mainstream medicine simply won’t go here, however, as compelling as the evidence is. So “we the people” need to guide our nation and communities back to sense about the perils of homosexuality and gender confusion, especially to our children. Source:...Key Considerations for Preparing a Family Legacy Plan
Over the next 20 years, $30 trillion dollars could be transferred from the current generation to the next, making now a critical time for advisors to discuss multigenerational planning with high net worth clients. Along with planning for the financial...How to protect your family-owned business from your child’s spouse
There are many ways to prevent a child’s spouse from becoming a “creditor” of a family-owned business. Below are three common ways to protect the family-owned business: Source: How to protect your family-owned business from your child’s spouse | Thompson Coburn...First Date Sex?
Now, I’m going to suggest a crazy dating concept in the 21st Century that might get you to the finish line without any wounds! Wait until you’ve got the full commitment! Make him put a ring on it first. I know one girl who is waiting until she gets married to...35% experienced family conflict resulting from bad estate plan
According to WealthCounsel’s recent inaugural Estate Planning Awareness Survey: Such disputes often occur among the not-so-rich and-famous as well: More than one-third (35%) of respondents have either personally experienced, or known someone who has...A Better Way To Say “I Love You”
As Valentine’s Day brings heart-shaped chocolate boxes and roses by the dozen into your clients’ imaginations, seize the moment to educate them about the drawbacks of “I love you” wills and introduce them to the estate planning move that’s actually going to...The Other Reasons For Estate Planning
Good discussion of incentive trust planning: Many subjects that serve as substantial planning motivators aren’t found on client questionnaires and are frequently absent from planning discussions. Source: The Other Reasons For Estate Planning (Well actually, we...Life Insurance: It Was Never Just About Taxes
This article raises important points — plan for the long-term and don’t let taxes direct the planning over more important goals — plus it’s a good review of the many benefits of life insurance. But as I’ve previously noted, the...Study: Staying in unhappy marriage could be best thing you do
Consider also that your estate plan can include incentives to help your kids and grandkids stay married. Having a child puts a strain on relationships, but staying in an unhappy marriage is the best thing you can do for its long-term success, according to a...Irvine police recover heirloom jewelry stolen by jeweler, dating back to 1892
Recovered at a local pawn shop. Who will handle your jewelry, firearms, other important heirlooms? Are they trustworthy? Nicole Sarber, the owner of the heirloom ring from 1892, went public with her ordeal. Sarber’s boyfriend gave the ring to Cervantes, a jeweler and...WATCH: Two twins, separated at birth, meet each other first time LIVE
Obergefell and Judicial Supremacy: It’s Not Over | National Review
This content is for members onlySix Things Family-Owned Firms Should Know About Succession Planning
Among the chief goals of succession planning is providing continuity of management and minimizing the tax costs of transferring property interests to new generations.Source: Six Things Family-Owned Firms Should Know About Succession PlanningMarijuana causes schizophrenia, heart attacks, and firearm prohibition
And don’t forget it also bars you from possessing a firearm, under at least federal law. Marijuana does raise the risk of getting schizophrenia and triggers heart attacks, according to the most significant study on the drug’s effects to date....Twelve “Star Wars” Lessons For Becoming A Financial Planning Jedi
A truly nerdy advisor with too much time on his hands put this together. Why nothing on Star Trek TOS? In preparation for “Rogue One: A Star Wars Story,” here are 15 lessons from the film series to help you be a financial planning Jedi. Source:...President-elect @realDonaldTrump: “We’re going to start saying ‘Merry Christmas’ again!”
President-elect @realDonaldTrump: "We're going to start saying 'Merry Christmas' again!" pic.twitter.com/kzpTKri4sp— Fox News (@FoxNews) December 10, 2016British “Defender of the Faith” aims to defend ALL faiths
Good luck, Chuck: Prince Charles, who will become the supreme governor of the Church of England when he succeeds his mother Queen Elizabeth II, often speaks out about the plight of Christian minorities in the Middle East. But he has long said he wants to be seen as a...#FamilyProtection: University admissions officer calls natural marriage supporters ‘pieces of trash’
[You can insulate your kids: http://SacredHonor.US] FAIRFAX, Virginia, November 15, 2016 (LifeSiteNews) — If you believe in traditional, natural marriage, then you are “piece of useless trash” in the opinion of an assistant admissions officer at George Mason...#FamilyProtection: Americans Think Christmas Should Be About Jesus – Rasmussen Reports™
Most Americans still say Jesus is the “reason for the season,” and want to keep the focus on Christmas when it comes to store signs. Source: Americans Think Christmas Should Be About Jesus – Rasmussen Reports™#AssetProtection: How “Gamification”’ Can Improve Family Education and Engagement
Family businesses spend an extraordinary amount of time and capital (financial, human and intellectual) on skill building and education within the family system. Rising members of the family system must master many different skills. Some of these skills can be...#FamilyProtection: ‘Brady Bunch’ (Blended Family) mom Florence Henderson dies at 82
The real Florence Henderson also had a blended family — she got divorced and remarried after some 30 years in a marriage that produced four kids. Blended families (extant or future, through remarriage) are extremely common and good, comprehensive estate...#FamilyProtection: Thanksgiving Survival Guide
This Thanksgiving as your dolloping butter and gravy all over your turkey, which was killed so that you may eat it, if a liberal family member or friend chimes in with something inane about white privilege, Islam, global warming or how butter is going to kill you,...#AssetProtection: When Family Conflict Threatens the Business
When conflict arises between family and business goals, the natural inclination to minimize it can lead to a pattern of dysfunctional communication and greater conflict. The common practice of triangulation rarely leads to resolution of underlying issues and can be...#AssetProtection: Six Steps Couples Should Take When Merging Assets
Here are six steps couples who live together and are committed to each other, who are engaged or who are newly married may not realize they should take when merging assets: Source: Six Steps Couples Should Take When Merging Assets
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