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Estate Planning Business Succession

Is Succession Planning Necessary for Family Business Entities?

While 88% of business owners believe their family will control their business in five years, statistics from Family Business Institute show that only 33% of businesses survive to transfer to the next generation, and only 10-15% continue to the third generation.
04/27/22 • by: Grogan Law, PLLC
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Should You have a GRAT?

It took a lot of hard work and dedication to acquire your wealth. You want to transfer as much of it as you can to your beneficiaries. As a result, having a large estate means you’ll have to pay quite a bit in gift and estate taxes.
04/26/22 • by: Grogan Law, PLLC
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What Do I Need to ‘Age in Place’?

As they get older, many — even most — Americans prefer to remain in their own homes as long as they can, AKA “age in place.” However, to do that, many will need to make their residences safer and easier to navigate, by making home modifications.
04/25/22 • by: Grogan Law, PLLC
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Can a Vacation Home Be Kept in the Family for Generations?

These vacation homes may also comprise a significant portion of the family’s wealth. Therefore, it’s understandable that homeowners want to pass their properties and family traditions to future generations.
04/21/22 • by: Grogan Law, PLLC
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Can Playing Golf Lower Risk of Dementia?

Japanese study found older male golfers were 37% less likely to get dementia.
04/20/22 • by: Grogan Law, PLLC
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What Is the Gift Tax for 2022?

Two years into the pandemic, countless lives have been impacted by COVID 19. Faced with daily reminders of the consequences of this illness, estate planning seems to be on the minds of many.
04/19/22 • by: Grogan Law, PLLC
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Can I Avoid Financial Exploitation?

Financial exploitation comes in many forms, and older adults are often the victims.
04/18/22 • by: Grogan Law, PLLC
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Can I Pay Less Taxes on My Retirement Funds?

You don't get to use all the money in your traditional 401(k) and IRA for retirement because you still have to pay taxes on it.
04/15/22 • by: Grogan Law, PLLC
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Is Estate Planning Affected by Property in Two States?

When it comes to owning property in two different states, you may wonder how to manage these in your estate plans.
04/13/22 • by: Grogan Law, PLLC
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New Bill Could Make Long-Term Care Insurance More Affordable

Legislation introduced last week in the House of Representatives would reform the tax code in an effort to make long-term care insurance more affordable and accessible for older adults.
04/12/22 • by: Grogan Law, PLLC
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