Pros and Cons of a Family Limited Partnership

Owning your own business or investment portfolio can be incredibly rewarding. However, to preserve the fruits of your labor and dedication, you must do everything you can to protect it. Whether you seek to protect yourself, your investments, and your family from taxes, creditors, or probate, a family limited partnership (FLP) is...

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Can a Trust Own My Business after I Die?

In general, the answer to the title question is yes, your trust can own your business after you die. However, there are a number of considerations that may impact the answer to this and the following questions. One consideration is the type of business interest you own. Is your business a limited...

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Preserving Your Farming Legacy

Farming has been the cornerstone of our country for hundreds of years. Although the percentage of the population engaged in farming has decreased dramatically since our country’s founding, there are still two million farms operating over 900 million acres of land in the United States[1], 98% of which are family farms

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Retirement Planning for Business Owners

 

For many employees, saving for retirement is usually a matter of simply participating in their employer’s 401(k) plan and perhaps opening an IRA for some extra savings.

But, when you’re the owner of a business, planning for retirement requires pro-activity and...

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