Turning Tides Financial, financial advisor, CDFA, divorce, financial management

The old saying “No one plans to fail, but many fail to plan” has special applicability to business owners. From the very outset, business owners need to be aware that even the most basic business model entails considerable financial strategies.

Protecting your business is as important to us as it is to you.  We will review with you various avenues for protecting income, expenses and succession planning, to works towards your business and family financial stability.

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Let’s consider how business owners can take these strategies to another level through:

Turning Tides Financial, financial advisor, CDFA, divorce, financial management

Business Succession Planning

Turning Tides Financial, financial advisor, CDFA, divorce, financial managementKey Person Insurance

Turning Tides Financial, financial advisor, CDFA, divorce, financial managementFunding Buy Sell Agreements

Turning Tides Financial, financial advisor, CDFA, divorce, financial management401k/403b Plans

Turning Tides Financial, financial advisor, CDFA, divorce, financial managementExecutive Bonus Plans

Turning Tides Financial, financial advisor, CDFA, divorce, financial managementEmployee Benefits

Turning Tides Financial, financial advisor, CDFA, divorce, financial managementDisability Insurance

Turning Tides Financial, financial advisor, CDFA, divorce, financial managementBusiness Overhead Coverage

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business planning

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Turning Tides Financial, financial advisor, CDFA, divorce, financial management

While Estate Planning is often associated with the wealthy, in reality, anyone who wants to pass on assets to their heirs needs to think about their estate plan. In addition, estate planning takes into account the guardianship of minor children, the Succession Plan for a business and a variety of other related issues. Like any aspect of financial planning, an estate plan should be reviewed and, if needed, updated periodically.

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Common Mistakes

lTurning Tides Financial, financial advisor, CDFA, divorce, financial managementaf

Not checking beneficiary

Turning Tides Financial, financial advisor, CDFA, divorce, financial management

Leaving survivors to search for your assets and accounts

Turning Tides Financial, financial advisor, CDFA, divorce, financial management

Assuming that estate planning is a one-time event.

Turning Tides Financial, financial advisor, CDFA, divorce, financial management

Overlooking the need to update Wills, Healthcare Proxy and Power of Attorney’s

Turning Tides Financial, financial advisor, CDFA, divorce, financial management

Establishing a trust and failing to retitle assets to the trust.

Turning Tides Financial, financial advisor, CDFA, divorce, financial management

Understanding the complexities that an Executor/Executrix are faced with

Turning Tides Financial, financial advisor, CDFA, divorce, financial management

Estate tax calculations and profitable assets

Turning Tides Financial, financial advisor, CDFA, divorce, financial management

Correct titling for ease to Executor/Executrix

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Turning Tides Financial, financial advisor, CDFA, divorce, financial management

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Need help understanding some common estate planning terms? Download this quick reference quide!


Estate Planning 101

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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of Financial.

Lifelaw, Harry M. Scarmella Esq. and Turning Tides Financial are not registered broker/dealers and are not affiliated with Financial.

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