Starting a new business can be an exciting prospect. However, securing capital to begin operations can often be frustrating and difficult. While there are a number of potential sources of financing available, typically, personal funds are one of the most common, primary sources of start-up capital.
Have you every wondered how estate planning might fit into your overall, future plans? Even if you are just starting to build your estate and do not need complex estate planning, here’s a quick look at some steps you should consider taking immediately in order to protect your family and to reduce potential expenses in the event of your death.
Overly aggressive use of FLPs should not be suggested. There could be unwanted surprises for the unwary. Because the family limited partnership has become particularly popular as a tool for managing family enterprises, the use of an FLP should continue to remain attractive in possibly reducing the size of estates for tax purposes, while retaining control of the business operation.
Rather than striving to meet customer expectations, strive to exceed them in your quest to provide superior customer service. This high level of service can enhance your reputation, encourage repeat business, and motivate your employees, which can help to build and strengthen your company.
You might be tempted to pull out of the market after a big loss or start buying in when the market has a huge run-up. Keeping you disciplined is quite often the major benefit of having a financial advisor, who can help you maintain the proper longterm perspective of your investment allocation and not let emotions rule the actions.
With a deferred compensation arrangement, you agree to continue an employee’s salary for a specified period of time after retirement. Although your company’s contribution to the plan is not currently tax deductible, deferrals grow tax free provided your company uses a tax-deferred funding vehicle, such as life insurance.
The careful planning of an estate requires a great deal of expertise. If you surround yourself with a professional, supportive team as you begin the process, work through its many stages and adjust your plans over time, you assure yourself—and those you love—that the future will be secure for all.
A monthly newsletter providing you insight into the law, finance and family matters (with an occasional dose of humor) from your friends and advocates at DuPont Wealth Solutions and the Law Offices of DuPont and Blumenstiel.
If you are a number of years away from retirement, or if you are approaching it fairly soon, you may choose to consider purchasing the amount of insurance necessary to cover a retirement contingency.
A monthly newsletter providing you insight into the law, finance and family matters (with an occasional dose of humor) from your friends and advocates at DuPont Wealth Solutions and the Law Offices of DuPont and Blumenstiel.
