Like many family business owners addressing their succession plan, Diane and Tom zero in on the family business and neglect to include their entire estate in their planning efforts. Proper succession planning considers assets beyond the family business. Founders should evaluate their whole estate and identify assets outside of the business that can also be bequeathed in an effort to achieve fairness.
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The Crash Card: A Tool to Protect Your Family and Business When You No Longer Can
You get an oil change every three months to protect your car. You get a check up every year to protect your health. You file your taxes every year to prevent issues with the IRS. But what are you doing to protect your family and your business when you will not be around to protect them yourself?
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DOL Warns Employee Benefit Plan Administrators About Audit Errors
Last year, over 40% of employee benefit plan audits were found to be non-compliant with the Department of Labor. Auditing errors are more common than you think, and can affect plan sponsors, fiduciaries and participants.
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