One-third of rich families’ heirs are at risk, according to a CNBC survey, because they do not have a financial advisor–crafted estate plan.
Perhaps the most important decision an owner needs to make is how to handle succession planning and whether management or ownership succession is most beneficial.
Estate planning has truly evolved over the past 20 years and is now harder than ever before.
A good estate plan can significantly reduce taxes, streamline transfers of assets after your death, sidestep costly public probate proceedings and minimize family squabbles over inheritance. United States Family and Matrimonial Burns & Levinson LLP 1 Sep 2015
PS Farmers need to be careful in California to avoid joint trusts.