Dealing with Negative Online Reviews of Your Business

You’ve worked hard to build your small business. Nothing is more frustrating than negative online reviews, particularly if you feel they are unjustified or have been posted in bad faith. There are several steps that you can take to prevent your business’s reputation from being damaged by unfavorable reviews. Respond promptly and professionally. More and more potential customers are turning to internet review sites like…

How to Coordinate Your Retirement and Estate Plans

We often think of retirement accounts as monolithic resources. It is easy to see why – we spend our working years socking away money for our future. Unfortunately, though, the rising cost of healthcare can quickly deplete even the largest of retirement funds. Because retirement accounts tend to be the largest assets in a person’s estate, it is crucial that proper planning is done to…

Coordinate Retirement and Estate Planning For Improved Client Relationships

Retirement accounts are designed to help make the transition between working and retiring easier. They provide a steady stream of income for retirees who are suddenly without take-home pay for the first time in their lives. Unlike other assets your clients may have, these accounts require extra planning and consideration since retirement account distributions are subject to income tax for the account owner and the…

Cybersecurity: Protecting Your Business

Cybersecurity is a growing concern for businesses, and small businesses are not immune from the threats posed by cybercriminals. Don’t be complacent because your business is small: Almost half of all cyberattacks in the U.S. are directed at small businesses. In recognition of this serious problem, in August 2018, President Trump signed into law the NIST Small Business Cybersecurity Act, requiring the federal government to…

Breaking News: State Bills Introduced in Massachusetts to Change the Estate Tax

In an effort to provide you with the latest estate planning news – Two bills were introduced to the Massachusetts State Senate which, if enacted, will change the Massachusetts Estate Tax laws. The first bill, S.1631, entitled “An Act to Mitigate Snowbird Relocation”, would increase the state estate tax exemption from the current $1 million to $2 million. Additionally, the tax rates are to be…

3 Liability Planning Tips for Physicians

You probably know that the practice of medicine is a profession fraught with the risk of liability. It’s not just medical malpractice claims either (although those are certainly scary enough). It’s the entire scope of risk from being in business, including employment-related issues, careless business partners and employees, and contractual obligations, as well as personal liabilities. Unfortunately, in our litigious society, these liability risks are…

Estate Planning Tips for Someone Who Is About to Go in for Major Surgery

Getting the news that you have to undergo major surgery is never easy. Preparing for absences from work, planning for childcare and household responsibilities, and reviewing your estate plan will be among the things you may be worrying about. But, what if you only have a few weeks—or even days—to react? Who should you call? How can you concentrate enough to get this work done?…

Four Common Myths about Estate Planning

1) Myth: My spouse can make all of my healthcare and financial decisions because he/she is my spouse. Reality: This is not always the case. To make sure your spouse can indeed make important medical decisions on your behalf, you should sign a durable power of attorney, health care proxy and HIPAA Authorization. 2) Myth: I’ve told my family how I want my affairs handled…

Are Any of These 11 Mistakes Lurking in Your Estate Plan?

1) Lack of Healthcare and Disability Planning. The majority of deaths occur in hospitals or other institutions. Patients may be incapacitated to the point where they can no longer communicate their healthcare wishes. Health Care Proxies, living wills and MOLST forms can identify medical decision-makers, specify wishes for end-of-life care, and Trusts and Durable Powers of Attorney can provide a formal plan to control financial…

Don’t Allow New Accounts to Catch Clients Unaware

  As a financial or tax professional, what could be more important than the financial health of your clients? As you know, a comprehensive trust-centered estate plan allows your clients to provide for loved ones, affording them immense peace of mind. But, estate planning is not a one-time event since trust-centered estate plans require careful supervision and regular reviews to function properly. Accordingly, it’s crucial…

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