Planning

Succession by Sale; Preparing Your Business

The succession plan for many owners of closely held businesses is a sale.  So often, the due diligence period with a buyer will reveal issues that thwart or delay sales and result in higher transactional costs.  In order to minimize the potential for such a result and have a successful sale, owners should proactively do […]

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Transitions – Part 1

Life is full of transitions and the actions taken to prepare for such transitions.  Parents spend time and money preparing for the transition of a child from infant to a toddler.  We winterize our cars and our homes; preparing for the changes in seasons.  And as our kids grow older and leave the nest, we […]

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New Required Minimum Distribution Rules

A few years ago, the Required Minimum Distribution (RMD) rule changed from requiring distributions at the age of 70-1/2 to 72 years.  Life expectancies are increasing (sans Covid) and the Consolidated Appropriations Act of 2023 has extended the starting age for RMDs to the age of 73 for those who turn 72 after December 31, […]

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Your Spouse Has Passed – Now What?

Your spouse has passed – what do you need to do?  Many times, there may be very little for you, as the surviving spouse, to do after the funeral.  However, everyone is different and what your relative or neighbor may have experienced is not what is true for your situation.  The list below is but […]

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New Year – New To Do List

As we move through the new year, we may have made resolutions, created a To Do list, or just have mentally thought about different things that might need attention.  Regardless of your method, one very important item that you should give priority to is to address your estate planning and to determine if it needs […]

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Medicare Open Enrollment

October through December of each year is the open enrollment period for Medicare.  Many people aged 65 and older are on auto-pilot and just continue with the plans they have in place without regard for investigating if there are other options that could be more beneficial.  First of all, Medicare is available when you attain […]

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So You Can’t Live At Home Anymore…

Planning for contingencies is typically one of our least favorite things to do.  The onset of the pandemic changed that for many but still there are things we procrastinate with, such as planning for the later years in life.  Many a client over the years has told me they simply can’t move out of their […]

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Retirement Accounts and Second Marriages

Are you on spouse number 2 or 3 and you have a retirement account?  If so, there are certain things to keep in mind.  First of all, if you have had your estate planning completed by an estate planner or have a financial advisor/planner, you have most likely addressed this issue. But if you are […]

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Year-Round Tax Planning

Tax season is pretty much history unless your returns are on extension.  For most people, once our tax returns are filed, we tend to not give them another thought until the beginning of the next year.  To minimize your tax liability, you need to think about taxes all year round.  Thinking about deductions and credits […]

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Your Child Reaches the Age of 18 – They Are an Adult Now

The Fourth of July is behind us and the start of a new school year will be here before we know it.  If you are a parent with children going to school – including those headed off to college – you are probably already starting your “school” shopping.  If you have a child headed for […]

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