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Splitting a Farm to Keep It in the Family
April 1st, 2016
Farmers who have more than one child have an estate planning dilemma. The most valuable property that they have is almost always the land and the farm equipment. If all of the children are not interested in farming, it can be difficult to give them a…
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Categories: Aging Issues, Current Affairs, Estate Planning, Family Business, Succession, Trust Funding, Weblogs, Will
Postnuptial Agreements for Estate Planning
March 29th, 2016
Americans are familiar with prenuptial agreements that detail how a couple's property will be divided in the event of a divorce or death. In most states spouses can reach similar agreements after they get married. The Wall Street Journal reports…
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Worry in Detroit over Lions’ Succession Plan
March 10th, 2016
The Detroit Lions say that there is a succession plan in place for when the current owner passes away. They are not saying what that plan is, which might cause some concern for the NFL. Like other professional sports leagues the NFL has tight restric…
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Categories: Aging Issues, Current Affairs, Estate Planning, Family Business, Games, Sports, Succession, Trust Funding, Weblogs, Will
Business Succession -- It’s Never Too Early to Plan Your Exit
April 23rd, 2013
There are myriad ways to begin the exit process from your business without giving up management control. [Here] are some ideas to structure for an eventual departure, without having to hand over the keys to the business right now. Business succ…
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Succession Planning – A Business Must
April 8th, 2013
The conversation around successions can be [sensitive], because it brings up all the same issues one faces when starting a business — only this time, you’re forced to imagine it without yourself in the picture. When it comes to business, successi…
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Categories: Family Business
Four Generation Family Business Endangered by Family Dispute
April 2nd, 2013
The silent party to all the fighting is, of course, Luray Caverns. It is not just a U.S. Natural Landmark. It is also a business, and businesses can suffer when their owners are at war with each other. Family businesses have a tough time passing from…
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Tips for Leaving Your Business
March 25th, 2013
Most exit plans I’ve dealt with are some combination of these three basic techniques. And, the lines that differentiate them can be fuzzy. Owning and running a business is tough stuff, and at times you feel the weight of the world on your shoulders…
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Lifelong Careers – When Do You Retire?
February 25th, 2013
Pope Benedict, 85, is reportedly the first pope to retire in almost 600 years, which made his decision all the more momentous. But since the pope believed his health issues were impacting his job, the decision seems relatively clear-cut. For the grow…
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Succession Planning – A Business Must in Ann Arbor
January 29th, 2013
The conversation around successions can be [sensitive], because it brings up all the same issues one faces when starting a business — only this time, you’re forced to imagine it without yourself in the picture. When it comes to business, successi…
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Is Your Ann Arbor Family Business Staying in the Family?
October 4th, 2012
The problems founders face when an heir announces he/she refuses to reign are significant and extend far beyond the hassle of hunting for a replacement in a poor quality applicant pool. The real damage done in this circumstance comes from…
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