by Dave Duringer | Jul 12, 2018 | Asset Protection, Business Succession, Estate Planning, Limitation of Liability, Venture Protection
In at least one sense business succession planning is like planning for guns: you need to make sure beneficiaries are responsible enough to handle the asset. Plus a little asset protection might be a good idea. Putting aside the ultimate outcome of the...
by Dave Duringer | Jul 3, 2018 | Business Succession, Venture Protection
It may seem oversimplified, but communication really is paramount to successful succession planning, and it needs to begin when the founders are still in control. This paves the way for properly communicating the founders’s wishes and plans, and will also give...
by Dave Duringer | Jun 17, 2018 | Business Succession, Buying or Selling a Closely Held Business
More on this topic at our weekly seminar here. In closely held businesses, owners and managers are focused on operations and usually don’t have extensive experience buying and selling companies. However, advanced exit planning allows owners and management to...
by Dave Duringer | Nov 25, 2017 | Asset Protection, Business Succession, Creditors & Predators, Estate Planning, Family Protection, Tax Planning, Venture Protection
Some of the reasons listed here: Despite the proposed high estate, GST and gift tax exemptions and whether there’s repeal, trusts will remain extremely popular for many non-tax reasons, including: family governance/succession/education; ability to override the...
by Dave Duringer | Mar 28, 2017 | Business Succession, Career Maintenance, Career Preparation, Charity, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Pet Protection, Punishment, Religious Faith
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...
by Dave Duringer | Mar 21, 2017 | Business Succession, Estate Planning
In Missouri, wife Themetta can claim at least half of the cash and a half stake in the intellectual property. Odds are she’ll get a lot more if there was a will, since she was married to him a full 68 years and he was with her until the end.By the way, the...
by Dave Duringer | Mar 15, 2017 | Business Succession, Estate Planning, Operation & Governance, Venture Protection
Here are some ways that an advisor could help a family business instill better governance practices: Provide guidance. Each new corporation or LLC document should be accompanied by guidance on governance activities that are required and recommended. In the...
by Dave Duringer | Mar 13, 2017 | Business Succession, Estate Planning, Family Protection, Financial Mentorship, Venture Protection
One common misconception is that sheltering the younger generation from knowing about the magnitude of the family wealth is in their best interest. Contrary to such opinion, the survey found that it’s important to teach children and grandchildren the family’s...
by Dave Duringer | Mar 12, 2017 | Business Succession, Estate Planning, Venture Protection
Succession planning involves more than valuations and buy-sell agreements. Given all the blood, sweat, and tears you’ve put into your business, you don’t want to risk passing it to the wrong person—someone who doesn’t care for your clients the same way you do...
by Dave Duringer | Mar 11, 2017 | Business Succession, Estate Planning, Venture Protection
In a fireside chat with Professor Michael Preston, Paul J. Fribourg, the keynote speaker, focused on the importance of having clearly defined roles for family members and making decisions as a unit. Fribourg is the Chaiman and CEO of Continental Grain Company,...
by Dave Duringer | Mar 7, 2017 | Asset Protection, Business Succession, Estate Planning, Family Protection, Financial Mentorship, Venture Protection
Seems like just about every college has gone full marxist these days, and as a conservative I bristle at the idea that families really need those loons. This article makes a pretty good case that we all benefit from an academia attentive to Family Business....
by Dave Duringer | Feb 15, 2017 | Business Succession, Estate Planning, Venture Protection
Ten ways to plan strategically in the medium term so the business stays in the family for the long-term.PWC recently rolled out the 8th edition of their biannual Family Business Survey. One of the major themes of the study was a shocking inattention among...
by Dave Duringer | Feb 10, 2017 | Business Succession, Career Maintenance, Career Preparation, Charity, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Firearm Legacy, Firearm Training, Punishment, Religious Faith, Spendthrift Children
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...
by Dave Duringer | Feb 10, 2017 | Business Succession, Career Maintenance, Career Preparation, Estate Planning, Family Protection, Financial Mentorship, Venture Protection
So how does someone determine if he is “too old” to make independence work? It really comes down to a few key characteristics shared by those advisors who took the leap: They really wanted it. They believed in their ability to migrate clients and grow. They had...
by Dave Duringer | Feb 10, 2017 | Asset Protection, Business Succession, Career Preparation, Death Tax, Estate Planning, Family Maintenance, Family Protection, Income Tax, Tax Planning, Venture Protection
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...
by Dave Duringer | Feb 3, 2017 | Asset Protection, Business Succession, Creditors & Predators, Estate Planning, Regulatory Compliance, Venture Protection
But, what about political risk? Given today’s volatile political environment, it seems especially prudent to raise this topic. A quick glance at the headlines is all one needs to appreciate that these are treacherous times that require organizations to take...
by Dave Duringer | Feb 3, 2017 | Asset Protection, Business Succession, Estate Planning, Regulatory Compliance, Venture Protection
Another regulation that brokers adhere to, but will likely come now to RIAs, is the mandate that the firm has a documented business succession plan in the event the advisor dies suddenly or otherwise becomes incapacitated. The risk is that many RIAs are smaller...
by Dave Duringer | Jan 14, 2017 | Business Succession, Career Preparation, Estate Planning, Family Protection, Financial Mentorship, Firearm Legacy, Venture Protection
.@realdonaldtrump: You'll say Mr. Pres we win #2A much, can't take it & I'll say #MAGA Click To Tweet Trump’s legacy of winning is motivational for any individual, family, business or country. Learn about incentive trust planning...
by Dave Duringer | Jan 13, 2017 | Asset Protection, Business Succession, Career Maintenance, Career Preparation, Creditors & Predators, Death Tax, Estate Planning, Family Maintenance, Family Protection, Financial Mentorship, Gift Tax, Income Tax, Retirement Planning, Tax Planning, Venture Protection
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...
by Dave Duringer | Dec 28, 2016 | Business Succession, Buying or Selling a Closely Held Business, Estate Planning, Family Protection, Financial Mentorship, Venture Protection
(Get your parents into our free 2-hour estate plan design meeting.)
