Monthly Archive for: ‘January, 2017’

Should you set up trusts in a more “trust-friendly” state?

    While it’s natural to set up trusts in the state where you live, you may be losing out on significant benefits available in more “trust-friendly” states. For example, some states: Don’t tax trust income, Authorize domestic asset protection trusts, which provide added protection against creditors’ claims, Permit silent trusts, under which beneficiaries need not be notified of their …

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Succession planning and estate planning must go hand in hand

    As the saying goes, nothing lasts forever — and that goes for most companies. Then again, with the right succession plan in place, you can do your part to ensure your business continues down a path of success for at least another generation. From there, it will be your successor’s job to propel it further into perpetuity. Some …

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Explore all of your options when appointing the executor of your estate

    The executor’s role is critical to the administration of an estate and the achievement of estate planning objectives. So your first instinct may be to name a trusted family member as executor (also referred to as a personal representative). But that might not be the best choice. Important duties Your executor has a variety of important duties, including: …

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Hartmann, Blackmon & Kilgore, P.C. Announces Cave as Shareholder

Hartmann, Blackmon & Kilgore P.C. (hb&k), with offices in Brewton, Foley and Fairhope, recently welcomed Allen Cave, CPA, as a shareholder in the firm. Managing Shareholder Dennis Sherrin says, “I am honored Allen accepted our invitation to become a shareholder at hb&k. His leadership as director of tax services is preparing us for the evolution in tax compliance services while …

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Identify all of your company’s retirement plan fiduciaries

    Your company probably offers its employees a retirement plan. If so, can you identify all of your plan fiduciaries? From a risk management perspective, it’s critical for business owners to know who has fiduciary status — and the associated liability. Here are some common, though in some cases overlooked, plan fiduciaries: Named fiduciaries. The Employee Retirement Income Security …

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4 principles of competitive intelligence

    We live and work in the information age. As such, the opportunity to gather knowledge about your company’s competitors and industry as a whole has never been better. This practice — commonly known as “competitive intelligence” — can help you stay more nimble in the marketplace and avoid getting left behind as innovation surges forward. Before you dive …

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