Passion drives most business owners to keep pushing their limits. Yet, there comes a time when entrepreneurs consider moving on. Whether driven by a major life change or an exciting new project, you might be ready to plan your exit strategy without realizing it. To...
Some couples enter into marriage with a very specific contract already in place. Future spouses have long had the option of drafting a prenuptial agreement as a way to clarify expectations for the marriage and to take the conflict out of divorce proceedings, should...
When you first enter into an agreement, you create a contract that will protect and benefit your business in the long run. But no matter how perfect you think the contents of those initial contracts are, certain changes in circumstances will prompt you to update the...
In Massachusetts, just like in many other states, the tax implications of inheriting an IRA can be significant. Without proper planning, your beneficiaries may face a hefty tax bill when they inherit your IRA. This could erode a large portion of your hard-earned...
A lot of small businesses forego formalities when engaging in transactions. To them, doing so is easier, faster, and builds trust-based relationships. But bypassing a written contract can land you in trouble. Although you might rely on the strength of someone’s word...
A prenuptial agreement, or a prenup, is a powerful tool to protect each spouse and their assets from the consequences of unanticipated life events, such as a divorce or the death of one of the spouses. Moreover, the agreement can be an effective asset protection not...
If you have amassed a great deal of wealth and assets over your lifetime, you may worry how your heirs will use it. You may also worry about how your heirs will waste it. This may lead you to wonder whether you can use a trust to control how your heirs can spend your...
Some people start a business with the primary objective of eventually putting the organization up for sale. Creating a profitable home healthcare company or local IT support organization can produce not just short-term income for the entrepreneur but also a sizable...
Things in our lives change, and when they do, we have to adjust accordingly to ensure that while we let life take its natural course, we still manage aspects that we can control. This concept suitably applies to estate planning. Even the smallest changes in...
A business trust is a structure wherein a trustee manages the business assets on behalf of beneficiaries. In this arrangement, the trust outlines the powers and responsibilities of the trustee and the rights of the beneficiaries. Additionally, the document can include...
