Planning for Their Exit: Advising Business Owners on an Exit in a Heightened Interest Rate Environment

By WealthCounsel Staff on May 31, 2024 10:00:00 AM

Planning for Their Exit-Blog

By Donald P. DiCarlo Jr. and Matthew T. Lee

Much has been written recently about rising interest rates and the impact it can have on various wealth and tax planning strategies. For the closely held business owner who is interested in selling their business—which is often their most valuable and prized asset—it is important for advisors to understand how interest rates might affect the exit plan.

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Current Developments: May 2024 Review

By WealthCounsel Staff on May 17, 2024 10:00:00 AM

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From a new Internal Revenue Service (IRS) notice that extends relief for some beneficiaries of inherited individual retirement accounts (IRAs) to the release of a final rule by the Social Security Administration (SSA) omitting food from Supplemental Security Income (SSI) in-kind support and maintenance calculations and a US Supreme Court case clarifying the harm that must be shown for employees to make a Title VII discrimination claim, we have recently seen significant legal developments. To ensure that you stay abreast of these changes, we have highlighted some noteworthy developments and analyzed how they may impact your estate planning, elder and special needs law, and business law practices.

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Maximizing Referrals: 4 Strategic Speaking Tips for Elder Law Attorneys

By WealthCounsel Staff on May 10, 2024 10:00:00 AM

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Potential elder law clients are also clients of accountants, financial planners, healthcare professionals, insurance agents, and even other attorneys. For that reason, other professionals are one of the best sources of good referrals. 

Speaking to referral sources is different from presenting directly to potential clients. You must thoroughly prepare to speak to other professionals because, unlike potential clients, other professionals likely have some background knowledge of elder law. At the same time, you will want potential referral sources to see you as the expert on elder law, so must talk like you are the expert.

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