Owning a family business requires thoughtful succession planning. Family businesses come in all shapes and sizes. Some offer goods. Others offer services. According to a recent The Tampa Bay Business Journal article titled “Selling a family business: Plan to maximize value and preserve wealth,” estate planning and succession planning are essential to any of these […]
Business owners should tie estate planning to succession planning. Owning and running a business is no small feat. If it were, more people would have their own businesses. Those who start a business must address all aspects including mission, finances, and staffing. According to a recent Index Fund Advisors article titled “How to Avoid a […]
Having an estate plan is foundational to protecting loved ones and assets. People are planners. We plan our routes when driving. We prepare for meetings at work. We develop five- and ten-year plans. According to a recent Digital Journal article titled “What is an Estate Plan and What are its Benefits?,” many people, unfortunately, neglect […]
Creating an effective estate plan requires intentionality. Many people do not prioritize estate planning. If you are taking steps to create a plan, you may think whatever you do will be sufficient. Nope. This mindset could set you and your loved ones up for trouble in the future. The good news? You will be dead […]
Whole farm planning involves considering the next generation. If you own a family farm, your wealth is in your work. You may have inherited the land from previous generations. Perhaps you plan to pass this family business to your children and grandchildren. A smooth transfer of a farm does not simply happen. It takes forethought. […]
Benjamin de Rothschild left a sizable estate. Certain names are associated with wealth and power. In America, these names include the Vanderbilts and the Rockefellers. Often these families are referred to as having “old money.” Europe also has its families with generational wealth. According to a recent Wealth Advisor article titled “Billionaire Benjamin De Rothschild, Heir […]
Owning a small business requires specific estate planning. You are like many Americans. You own a small business. Over the years you have served your community by providing quality goods and services. According to a recent Legal Scoops article titled “3 Ways Estate Planning is Used in Small Business,” your small business will likely die with you […]
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Overland Park Estate Planning Attorney Kyle Krull assists clients in Kansas and Missouri with Estate Planning, Wills, Trusts, Revocable Living Trusts, Charitable Planning, Asset Protection and Business Succession Planning in the greater Kansas City area including Overland Park, Leawood, Olathe, Lenexa, Johnson County Kansas and Jackson County Missouri.
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