Selling your company, after a lifetime of work or a few short years, is an exciting time. Unless you have a buyer, you may need to hire a business broker to identify the right buyer. A broker can add significant value to a transaction, but it’s important to make sure you both have the same expectations. An experienced lawyer can help you understand the potential consequences of the Broker’s engagement letter.
Disputes between owners of a business can be some of the most difficult to resolve. Part of the solution is to document the ownership of the business from the beginning of the relationship. I am sure you have heard someone say: “It is easier to do it right the first time than to try to fix it when an issue arises.” There is a lot of truth in that statement.
When a typical Florida homeowner thinks of homestead laws, their first thought is usually of reduced property taxes. Florida’s homestead laws cover more than just property taxes; they also govern creditor rights and how homestead property can be distributed at death.
An estate plan is a coordinated plan that addresses the management and disposition of your assets in the event of death or disability. It’s comprised of two types of documents: (1) documents that control the disposition of your assets at death, i.e., a Last Will and Testament (and a Revocable Trust if you’re interested in privacy and limiting judicial oversight)
Prior to the passage of the new tax law in December 2017, an individual owning assets worth up to $5.49 million could avoid having to pay estate tax at death. Under the old tax law, only .2% of estates owed any estate tax to the IRS. Under the new tax law, the estate tax credit was increased from $5.49 million to $11.2 million, so even fewer estates will have to pay the estate tax.
Matt Katz was featured in the Sun Sentinel Society Scene at the Kip Hunter Marketing “Making REAL Connections” Breakfast hosted by Signature Grand and presented by Baptist Health South Florida on Friday, May 6th at Signature Grand in Davie. Laurie Sallarulo, President & CEO of Junior Achievement of South Florida; Dana Somerstein, Associate at Greenspoon Marder, P.A. and CLUB 2-1-1;…