I am indebted to Michael Dreyer, Financial Representative with Northwestern Mutual for contributing the following article on the advantages and benefits of annuities. Many business owners have had plans for years to sell their business and use the proceeds to…

Introduction There are four documents essential in creating a successful estate plan:  a Last Will and Testament, a Living Will, a Living Trust and a Power of Attorney.  Each one operates independently of the other, yet they are interrelated.  All…

Employee Stock Ownership Plans (ESOP) have been around for 35 years, and many well known, national companies have them, but many misconceptions still exist, such as: (1) Employees will directly own the company’s stock [FALSE], or (2) Employees will directly…

Introduction A buy-sell agreement is the most important legal document a closely-held or family business can hold.  Without a buy-sell agreement, businesses face peril upon a triggering event such as an owner’s death, incapacitation, divorce, filing bankruptcy, desire to sell,…

Employee Stock Ownership Plans (ESOP) have been around for 35 years, and many well known, national companies have them, but many misconceptions still exist, such as: (1) Employees will directly own the company’s stock [FALSE], or (2) Employees will directly…

Introduction In the past, assessment and submission of state sales taxes was easy.  Merchants would add on the required state sales tax to the purchase, that amount would be collected, and the merchant would submit the required amount to the…