Creating Instant Equity for the Next Generation

Creating Instant Equity for the Next Generation

by Jim Percy

Does the predicament of Coleridge’s ancient mariner, “Water, water, everywhere, nor any drop to drink,” apply to your business? It may apply if the asset at issue is not water, but money. If it does, the use of a private annuity may be the tool that allows your business to quench your thirst.

A common problem in many family businesses is that parents want to retire, but put it off because of their worries about maintaining a sufficient retirement income. These parents often have children who are poised to take over, but lack the funds to buy the business from their parents. This albatross can hang over many businesses, even those that are well-established and profitable, largely because a lion’s share of the family’s assets are in their business. More…

The Foundations of an Effective Estate Plan

The Foundations of an Effective Estate PlanBaylor

Legacies Newsletter
by W. Marc McDonald

The Will

The basic element of an effective estate plan is a Will. However, three out of four Americans die without a Will.

A properly prepared Will ensures that your assets are given to the person or organization you desire. It prevents assets from being needlessly taxed. It specifies a guardian for your children. It designates someone qualified to settle your estate.

A formal Will is in writing, signed by you, and attested by two credible witnesses over the age of fourteen (14) who sign in your presence. More…