Friday, August 28, 2009

Press Coverage of Estate Planning This Week (August 28, 2009)

Kelvin Collins of the Better Business Bureau of Central Georgia writes in the Augusta Chronicle that the Better Business Bureau advises consumers that if they own something of value that they would like to pass on to loved ones at their death, they should create an estate plan. He provides and overview of the basic estate planning documents and provides tips on communicating with family members about the plan. See Estate Planning Assures Control of Your Assets (Aug. 24, 2009).

LaTina Emerson of the Augusta Chronicle recounts how procrastinating on an estate plan can lead to problems in families of all types. She states that parents should start planning as soon as they have children to determine who would raise the children and manage the family's money in a worst case scenario. See Estate Planning Can Prevent Family Feuds (Aug. 23, 2009).

Kevin Reardon of BizTimes (Milwaukee, Wis.) suggests that business owners ensure they have a business exit plan if retirement is near, and review it regularly in light of the current economy. He recommends key questions every exit plan should address and questions that business owners should be discussing with their family. See Business Exit Plan Should Be Reset in Tough Economy (Aug. 21, 2009).