Conflicts are common among family members during inheritances. Things get more complicated when a successful business is part of any inheritance. Each and every member will expect to be put in charge of the thriving business without following protocol, which can cause...
Did you know that over 70 percent of businesses run by families do not make it through the transition from the founder to the second generation? This is the more reason to have a solid succession plan if a family-owned business is to pass from one generation to...
Succession planning is not as easy as it seems on paper. Implementing a successful succession plan takes creativity, time, commitment and intelligence. Companies that overlook the essence of succession planning die with their owners, and if not, they ultimately...
Serving as someone’s estate executor can be a burden and at the same time an honor. Being entrusted with the responsibility of handling a deceased’s wealth distribution among other affairs means the person trusted you. Executing your fiduciary mandate,...
Secure Your Grandchildren’s Future: Set up a Trust Fund If you are thinking about the future of your grandchildren, you could choose to leave them money or pay for future costs such as college tuition. However, setting up a trust on their behalf is a better...
High-net-worth households need proper estate planning strategies for wealth conservation. Unfortunately, not every high-net-worth individuals/families understand the essence of properly executed personal estate plans. Resultantly, their ignorance, poor estate planning...
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