Estate Planning

Estate Planning has traditionally been associated with preparing testamentary documents and avoiding estate taxes. These are important items, but they are hardly the only estate issues facing a family owned businesses! To properly prepare an estate plan, the practical needs of both the business and the family must take priority: Don’t let the tax tail wag your family business dog.

Balance is the FBI difference. Click to learn more.

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+ Family Smart Estate Planning

The overemphasis on the avoidance of estate taxes causes business owners to adopt strategies that are – bluntly – unwise when it comes to the needs and wishes of the family and the stakeholders of the business. The Family Business Institute puts the focus back where it belongs: practical needs and wishes of the family and business come first, and strategies are tailored around those needs rather than being myopically focused on avoiding taxation.

+ Avoiding the “Big Three” Family Business Estate Planning Mistakes

Because estate planning is so complicated and business owners are unfamiliar with the lingo and tools of planning, they often fall prey to three simple but all too common mistakes. Our thorough process rectifies the mistakes and, as a result, can save millions of dollars of unnecessary taxation while simultaneously providing for long term family and business health.

+ Avoiding “Affluenza”

One of the common fears of business owners is that – through well intentioned gift and tax avoidance strategies – they’ll put great wealth into the hands of family members who aren’t ready for it. They want their children and grandchildren to be productive members of society, but they worry about how the young people could be affected by receiving large sums of money or other assets.

The Family Business Institute can help relieve these concerns with a combination of techniques like Family Incentive Trust plans, counseling about the meaning and appropriate uses for wealth, and by developing “Family Charters” which can help families determine the meaning and purpose of their success – and pass those values along to others.

Maybe you don’t see answers to your specific questions here. Contact us anyway. It doesn’t cost you anything and we will give you blunt, straightforward, heartfelt advice to get you pointed in the right direction. If we can’t help you, maybe we have contacts or know someone who can.

CLICK HERE or call 877-326-2493 to schedule a FREE consultation.