by Tawnya Gilreath

Five Surprisingly Common Planning Mistakes Baby Boomers are Making in Droves

Estate and Business

Baby boomers – the first generation tasked with the responsibility of planning for and funding their golden years. This generation, which includes those born between 1946 and 1964, have entered and continue to enter into retirement. As they make this financial transition into retirement, many are learning that they have made some of the most typical retirement mistakes.

But, even if you’ve made a financial mistake or two, there’s still time to avoid these five surprisingly common planning mistakes baby boomers are making in droves. Read More

by Tawnya Gilreath

How Often Do You Update Your Estate Plan? More Often Than Your Resume?

Estate and Business

A resume is a “snapshot” of your experience, skill set, and education which provides prospective employers insight into who you are and how you will perform. Imagine not updating that resume for 5, 10, or even 15 years. Would it accurately reflect your professional abilities? Would it do what you want it to do? Likely not. Estate plans are similar in that they need to be updated on a regular basis to reflect changes in your life so they can do what you want them to do. Outdated estate plans – like outdated resumes – simply don’t work. Read More

by Tawnya Gilreath

Big “Life Changes” Often Mean Big “Estate Plan Changes”

Estate and Business

Many people who put together an estate plan do so when they start a family – assuming they put an estate plan together at all during their lifetime. While putting an estate plan together is a good thing to do, many people make few updates once the plan has been created, despite other key life events happening over the years. This is a major mistake that can place your hard-earned money and assets into a costly probate or into the wrong hands. To make sure you do not run into these issues and your wishes are followed in the event of your death or incapacity, below are nine life decisions or events that should get you thinking about updating — or creating — your estate plan right away. Read More

by Tawnya Gilreath

Business Sale: Stock Sale Treated as Asset Sale

As a general rule, most small business sales are conducted via an asset purchase agreement which transfers the assets of the company and leaves the liabilities with the seller unless specifically assumed by the buyer. There are occasions, however, when a business transaction can more effectively be completed using a stock purchase agreement. There are two Internal Revenue Code (IRC) sections that will permit the sale of a business under a stock purchase agreement to be treated or deemed an asset sale. Read More