Jeff Call, Partner in Bennett Thrasher’s PFS practice and member of the Forbes Finance Council, recently provided insight in a Forbes article titled, “15 Ways Retiring Business Owners Can Protect Themselves and Their Families.” The article highlights steps business owners can take to preserve the success of their businesses once they retire, while also protecting themselves and their families. Call elaborated on the importance of having a sufficient will and adequate insurance.
“There are two things business owners need to have in place to protect them in this scenario: a sufficient will and adequate insurance with respect to life, disability, long-term care and property-casualty,” said Call. “Once these steps have been taken, engaging with a tax advisor to discuss more advanced estate and gift-planning options to minimize the impact of estate and income taxes is also important.”
To view the full article, click here. To learn more about the Forbes Finance Council, visit their website.