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Business Succession Planning with ESOPs

There are many options available to the business owner including sale to outsiders, sale to insiders, or leaving a business to family when they are ready to hang up their hat. If they elect to sell to employees, they may employ an ESOP (employee stock ownership plan). An ESOP provides for the orderly transition of company leadership and ownership to the employees while at the same time funding the owner’s retirement.

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How Can I Make My Business Ready for Sale?

  HOW DO YOU PREPARE YOUR BUSINESS FOR YOUR EXIT? Whether you operate a service oriented business such as an accounting service, a roofing company, or a design firm that is heavily owner dependent or a distribution company dependent of a small number of suppliers...

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How to Select Your Business Entity

Does The Selection Of Entity For A Closely Held Business Effect The Ultimate Business Succession Plan? When You Started Your Business You Probably Did Not Even Consider Your Exit Plan When you first started your business you were excited with your business. You had a...

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What is a Succession Plan for My Business?

Why Failing to Plan Can Cost You Everything You Have Worked For All Your Life Do you have an exit strategy for your business? You have spent a lifetime building you closely held or family business. You expect your business, whether you sell it to outsiders, management...

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Am I Responsible for My Spouse’s Long Term Care ? Part 2

A lifetime of savings can be wiped out by the cost of long term care. Over 70% of people over 65 will need long term care. This article addresses frequent concerns regarding protecting a person’s assets from long term care cost. There are risks in Medicaid planning, but you can preserve your assets and have Medicaid pay for long term care.

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Am I Responsible for My Spouse’s Long Term Care Cost?

Who is Liable for Your Spouse’s Long Term Care Cost? I often get a worried person coming to my office with a question of whether they will be liable for the cost of his or her spouse’s long term care cost for his or her stay at a nursing home?  Usually, they come to...

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Do I Need A Power of Attorney

Do I Need a Power of Attorney? A question I often hear is what is a Power of Attorney and do I need one. The answer depends on your specific situation, but for most people a Power of Attorney is a document they should have prepared for the possibility of future...

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Medicaid- One Option to Pay for Long Term Care

Medicaid- One Option to Pay for Long Term Care According to an annual survey of long term care costs in 2016, the median costs of various options for long term care in Oregon range from $52, 624 to $107,310 per year.  A large percentage of the population cannot pay...

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