Experienced and effective leadership is a key component of long-term business success. However, only 35 percent of businesses have a formalized succession plan—a startling statistic considering that retiring Baby Boomers will comprise the largest exit from the workforce in US history. Whether you own your practice or advise business-owning clients, succession planning is vital to ensure a smooth transition. Keep reading to learn some top techniques and considerations to keep in mind.
WealthCounsel Staff
Recent Posts
Business Succession Planning: Techniques and Considerations
By WealthCounsel Staff on Feb 24, 2023 10:00:00 AM
The Vacation Home: Will It Be a Blessing or a Curse for the Next Generation?
By WealthCounsel Staff on Feb 17, 2023 10:00:00 AM
The Challenges of Planning the Client’s Legacy of Place and Togetherness
Written by Timothy Borchers
The vacation home . . . It evokes an image of family and friends enjoying time together at a cottage or cabin, lodge or ranch, somewhere away from it all—the lakeside or seaside, in the country, or on the slopes—in a scene that is repeated year after year.
It could be a Hyannis Port compound like the Kennedys’ or equivalent to Shrek’s shack in the swamp, but more likely, it is something in between. Regardless of whether it is modest or upscale, when everyone from Grandpa down to the youngest grandkid says in a giddy moment, “This place is awesome! I hope we can enjoy it forever!”, it is not just a home, it is an heirloom property.
Current Developments in Estate Planning and Business Law: February 2023
By WealthCounsel Staff on Feb 10, 2023 10:00:00 AM
From the SECURE 2.0 Act’s changes for special needs trusts to the Federal Trade Commission’s issuance of a proposed rule banning noncompetition clauses, we have recently seen significant developments in estate planning and business law. To ensure that you stay abreast of these legal changes, we have highlighted some noteworthy developments and analyzed how they may impact your estate planning and business law practice.