BUSINESS SUCCESSION PLANNING — WHAT IS IT? One of the important decisions a business owner must face is when and how to step out of the business — in other words, business succession planning or exit planning. Do you expect to retire from your business? Do you have a plan in place? What would happen […]
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Estate Planning: Trusts
Whether you’re seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility — many types of trusts exist, each designed for a specific purpose. Although trust law is complex and establishing […]
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How to Help Your Aging Parents Prepare for Retirement
Some people stride into their retirement years with the same self-assurance they’ve demonstrated all their lives. They’ve got the retirement thing figured out, and they don’t need help from anyone. But others go into retirement never entirely certain they’re actually prepared for it. If your aging parents fall into the latter group, you may want […]
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Women: Moving Forward Financially After the Loss of a Spouse
The loss of a spouse can be a devastating, life-changing event. Due to longer life expectancies, women are more likely to face this situation. This has hit close to home for BWFA as very recently some long standing clients have seen themselves in this very situation. After these recent losses for our clients and some […]
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Transferring Your Family Business
As a business owner, you’re going to have to decide when will be the right time to step out of the family business and how you’ll do it. There are many estate planning tools you can use to transfer your business. Selecting the right one will depend on whether you plan to retire from the […]