My Blog
retirement
|
Paul Berlin: Posted on Thursday, April 19, 2012 10:49 AM
 A Non-Qualified Deferred Compensation (NQDC) Plan typically is an unfunded and unsecured promise by an employer to pay compensation to one or more of its employees in the future (usually beginning at retirement). The plan is “non-qualified” because it does not meet the requirements of IRC sections 401 to 417 (participation, vesting discrimination, etc) that are satisfied by a qualified pension or profit-sharing plan.
Under a NQDC plan, the employees may voluntarily elect to defer a part of their compensation, or the employer may defer “extra” compensation, or both the employee and employer may make contributions that will lead to distributions to the employee at some specified future date. |
|
|
Nina Stillman: Posted on Wednesday, February 29, 2012 6:09 PM
 Whether you own a business or any other valuable
asset, it is important to have a succession plan to make sure that your assets
live on in safe hands. A Self Cancelling Installment Note (SCIN) can be a very
beneficial and creative way of setting up a succession plan. A SCIN works in a
similar fashion to an installment sale with some key differences. Under such a
succession framework, the party setting up the plan sells an asset to one or
more family members or buyers. The buyers pay for the asset in installments in
the same way that they would under an installment sale, but upon the death of
the seller, the remaining balance is canceled. |
|
|
Nina Stillman: Posted on Wednesday, October 26, 2011 5:06 PM
 The other day I was at my mother's house with my sister and my mom pulled us into her bedroom and sat us down. It was a little scary, but then she pulled out all of her jewelry and said its time to have some fun! She wanted us to tell her which pieces we wanted when she was no longer here and to tell us what she had already set aside for my niece. I reminded her that she also needed to put something aside for my brother even though he was not there with us. It brought her joy to hear the stories that we associated with the jewelry, hear her stories of pieces that had been handed down to her and peace of mind for her to know that her prized jewels were going to be in good hands. |
Attorney, Life Insurance, Business, Business law', business valuation, corporation, exit strategy, sale of business, succession planning, retirement, Family Business
|
|
|
|
Nina Stillman: Posted on Tuesday, October 18, 2011 8:35 AM
 It is National Estate Planning Week! (ok so we had to declare it for ourselves!) What is estate planning and what are the basics you ask? Why is it important? Estate planning is a process utilizing the advice of trusted advisers to assist you with decisions about how to protect and distribute your assets(including your business if you own one) when you pass away, who should pay your bills and take care of your monetary affairs for you in the event that you are living but unable to take care of them yourself, and also who should make medical decisions for you based upon your wishes in the event that you are injured but cannot communicate your desires clearly. |
Wills, Estate Planning, minor children, Life Insurance, tax savings, Business law', business taxes, buy sell agreement, corpoation, corporation, dissolution, exit strategy, partnership, sale of business, succession planning, taxes, trusted advisor, disability, retirement, guardians, power of attorney, Charity, asset management
|
|
|
|
Nina Stillman: Posted on Thursday, October 13, 2011 1:55 PM
 I have been blogging about business law and estate planning issues for a few months now and one client asked me " I love your posts but why do you do it? Why do you get out of bed and do this work everyday?" I realized that I have not told my story to too many people so here it is... I am the daughter of an entrepreneur/business owner who, while he may not have known it at the time, taught me so much about business and I have always wanted to do something with what I have learned from him. |
Attorney, Estate Planning, tax savings, Business, Business law', business taxes, business valuation, corporation, exit strategy, Limited liability, LLC, partnership, sale of business, succession planning, taxes, trusted advisor, retirement, Trust, compassion
|
|
|
|
Nina Stillman: Posted on Tuesday, October 11, 2011 5:44 PM
Taking care of your self, your career, your spouse, his or her career, your kids, their activities and school work, your home, your pets and being there for your friends... it can all get overwhelming. Add in a parent or other loved one who has a need for a caregiver and you can find yourself underwater. Taking care of yourself usually goes out the window first and that is actually the last thing that you want to do. You need to be healthy, physically nd emotionally so that you can help your loved one to the best of your ability. |
|
|
Nina Stillman: Posted on Tuesday, September 20, 2011 8:02 PM
 You would sound an alarm if someone walked off with half of your money or your household possessions right? If you are a business owner with partners and have not put a Buy/Sell Agreement in place you could watch part of your business walk right out the door and never know what hit you. A Buy/Sell Agreement is a must. This is an agreement between business owners that spells out the terms by which any of you are allowed to be compensated for your share of ownership of the business upon certain events occurring. |
Attorney, Estate Planning, divorce, married, Life Insurance, Business, Business law', business valuation, buy sell agreement, corporation, dissolution, exit strategy, financing, LLC, LLP, partnership, sale of business, succession planning, bankruptcy, criminal, disability, fraud, retirement
|
|
|
|
