For the love of your business

Articles to LIFT Your Life and Business

What Happens to Your Company’s Facebook Page When You Die?

While Facebook has recently developed user-friendly options for managing your personal profile in the event of your death, the company has yet to develop any streamlined way to handle your business accounts once you’re gone. Indeed, a Google search of “what happens to my Facebook account when I die” turns up tons of hits related […]

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4 Things You Need to Know About Business Succession Planning

As a small business owner, you’ve likely spent plenty of time working with your business plan. But have you dedicated the same amount of time to planning for the continued success of your company after you retire? Or if you were to suddenly die or become incapacitated? If you’re like most business owners, the answer […]

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5 Tips for Securing and Protecting Your Clients’ Data

All businesses big and small are responsible for protecting the personal and corporate data of their client base. This data can include everything from names and addresses to Social Security numbers and credit card account information. It’s not only good business sense to safeguard your customer data—it’s also a legal requirement. The Fair Credit Reporting […]

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From Billions to Bust: How the Stroh Family Fortune Was Lost

In 1988, Stroh’s Beer was one of America’s most impressive family fortunes, estimated by Forbes to be worth $9 billion in today’s dollars. Just two decades later, however, the massive beer empire, along with all of the family’s wealth, would disappear. Poor business decisions and bad investments were the primary cause of the company’s downfall. […]

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4 Key Elements Of a Small Business Owner’s Estate Plan

If you’ve dreamed of leaving your company to your family but haven’t sufficiently included your business in your estate plan, that dream could become a nightmare for your heirs—and for your business’ team members and clients, too. To ensure your company is passed to your family in exactly the way you desire, you want to […]

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Estate Planning Tips for the Owner-Dependent Business

Operating a business dependent upon your skills and expertise makes you a very valuable person to your business, but could leave your income (and your family’s well-being) at risk if and when something happens to you. Maybe you have not considered how important estate planning is because you’ve just accepted the fact that your business […]

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Do You Have a Business Succession Plan In Place?

As a business owner, you’ve taken on a big responsibility to your family, your clients/customers, your team and your partners. Most businesses are not sufficiently liquid to keep the company going and the owner’s family thriving, in the event of death. But with the right plan in place, you can ensure the people you care […]

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What Will Happen to Your Family Business When You Die?

Maybe you have dreamed of leaving the business you have built to your heirs, but if you do not have a buy-sell agreement, a business succession plan, a business transition plan or a business preservation plan in place, that dream may not be realized. Any number of factors can work against your dreams if you […]

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Why Every Business Owner Needs an Estate Plan

Most business owners build a business with an endgame in mind: either cashing it out or passing it on.  Whatever your scenario is for what happens to your business when you retire or die, it is not likely to happen without a comprehensive plan that aligns your personal and business objectives. If you plan to […]

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Don’t Bet the Family Business on No Estate Plan

Being the owner of a family business can complicate your personal estate planning, since no doubt much of the wealth you want to pass on to your heirs is tied up in the business.  Being able to do so in a tax-advantaged way – and in a way that won’t cause a family feud – […]

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Business Succession Planning: Lessons Learned from the Lack of a Plan

A recent post in the New York Times’ “You’re The Boss” column reflected on lessons learned from difficult company successions that were made that way because there was no plan in place to follow. Susan Parker owns Bari Jay, a bridesmaid dress company that she and her sister inherited from their father.  Parker had never […]

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