Category - children

You have enough time (we all do)

February 2, 2017

We tend to find time (i.e. make time) for things we value. That which we consider important gets our attention (and time), often at the expense of other stuff. I have been doing a lot of business travel lately and in the course of those travels, I was reminded of the resource of TED talks. […]

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What Thomas Jefferson Might Say About Your Business Arrangements (Part 3 re family business)

March 18, 2016

Family business is not the exception to the rule.  Rather, the rule is all the more applicable and important when it comes to family business. This is part 3 in a series of posts on the importance of written contracts to serve as the governing foundation for business relationships. We started with the premise that one reason […]

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Family Business Succession–Proceed with Caution

August 12, 2015

Many family businesses last only one generation. For those businesses that survive a transition to the next generation, it can be a difficult phase through which the business and individuals must pass. The vast majority of small businesses fail within the first 5 years of existence. Then, assuming a business lasts past those first critical […]

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Better Safe Than Sorry, Especially When Dealing With Family

August 3, 2015

Relying on family or friends to “do the right thing” is NOT a wise approach to planning. Last time we discussed the concept that few of us are as angelic as our parents believe and there are elements of both angel and devil in all of us (depending on the day and circumstance). We also noted […]

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Angel or Devil? Your loved ones are probably a little of both (depending on the day). Plan Accordingly!

July 28, 2015

Fights among children are a common occurrence, yes, even here in Utah. As a parent of young children, I recognize that I am biased towards my kids. After all, parents are supposed to think their kids are the very best, the brightest and the most angelic, right? We love our children unconditionally and we assume […]

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Lessons from Cinderella; Estate Planning for Parents of Young Children (Part 5)

June 16, 2015

Cinderella is a great story, but it is also contains a timeless illustration of the dangers of failing to plan. First, by way of disclaimer–I do understand that Disney was not attempting to make any sort of statement or teach any lessons in the world of estate planning or financial planning. Even so, what eventually […]

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Estate Planning for Parents of Young Children (Part 3)

June 11, 2015

Parents of young children often need a trust to hold assets for the benefit of such children. This is the third of our recent posts on the topic of estate planning specifically for parents of minor children. In prior posts, we addressed the common fallacy that these things are only for the elderly. We also […]

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Obtaining adequate life insurance is one of the most important things you can do to protect your children.

June 10, 2015

Obtaining adequate life insurance is one of the most important things you can do to protect your children. This is the second in a serious of posts geared towards estate planning considerations for parents of young children. We previously noted that one of the first steps that should be undertaken by EVERY parent who has […]

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Estate Planning for Parents of Young Children (Part 1)

June 8, 2015

Parents of young children often neglect to implement some very basic, but vitally important, estate planning steps for the protection of their children. As estate planning attorneys, we tend to do a fairly descent job in getting our message out to middle aged and elderly adults in the community. I believe this to be consistent […]

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good intentions, bad results

October 13, 2014

I was recently working with some parents of young children. These were dutiful and devoted parents in all respects. As part of their careful planning, they had purchased various life insurance policies and had executed Wills to appoint guardians for their young children, in the event that something should happen to both parents. These parents […]

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