Succession Planning

If you haven't done any asset protection planning, your wealth is vulnerable to potential future creditors and, should the worst happen, you could lose everything.

Lawsuits, taxes, accidents, and other financial risks are facts of everyday life. And though you'd like to believe that you're safe, misfortune can befall even the most careful person. What can you do? First, identify your potential loss exposure, then implement strategies that are designed to help reduce that exposure without compromising your other estate and financial planning objectives.

Many have heard the idea that term insurance is the only way to go. “Buy term and invest the difference” is the mantra of many financial planners and, “industry experts”. The, “buy term” marketing push has been so effective over the last 20 years that it is almost accepted as fact.

The reality is that life insurance is like everything else. You have different products available and each has its own place. My 7th grade shop teacher use to say, “Choose the right tool for the right job”. Life insurance is no different.

What is a baby boomer? If you were born between 1946 and 1964, then you probably are familiar with the term. Many baby boomers are the product of parents who survived The Great Depression. Yet as baby boomers approach retirement age, many financial experts feel that they may be more ill-prepared financially than their parents for retirement.

When it comes to pursuing the American Dream most of us try as hard as we can to accumulate wealth. We do this so that we can enjoy a comfortable income and retire with dignity. However, what if you were actually wealthy in retirement and at the same time looked poor on your income tax return? How would that impact your retirement years?

Tax Planning is always important to do but even more important now. It generally made sense to defer taxes to future years, but that may not be the case as it appears future taxes could be going up.

2010 Is a Big Sunset Year On-Tax Provisions
Several tax benefits will be going away. For instance, the top tax bracket will be going up from 35% to 39.6%, some talk of it going up to 45%. The minimum tax bracket will go from 10% to 15%. All of us will want to stay abreast of tax legislation. Because of the coming sunset on provisions,

In this book, experienced Wills and Estates lawyers, Barry Fish and Les Kotzer, provide insight and strategies to help you plan to avoid inheritance disputes using a plain language, “tell it like it is” approach.

Step into the world of two Wills lawyers... a world very few get to see. Long time Wills lawyers Les Kotzer and Barry Fish share dozens and dozens of Inheritance related stories.

"Many of these stories have had a permanent impact on us and we believe they will have an impact on you" - Authors Barry Fish and Les Kotzer

I’ve known franchisee Ike for several years, ever since his trusted public accountant Ronald introduced us. Ronald wanted me to implement some tax minimization and tax deferral solutions for Ike, focusing on executive compensation, pension and succession exiting strategies. Ike is a multi-unit franchisee with plenty of business sense but everyone can benefit from some outside advice.