Family Business/Succession

Mediation may be answer to resolve conflicts
Mediation increasingly is becoming part of the legal landscape. Court systems, some more than others, use mediation to reduce docket load and make breakthroughs in deadlocked cases. Parties on their own increasingly use mediation to resolve divorce, business, employment, contract and other conflicts. Mediation, unlike litigation, has the potential not only to resolve disputes but to address underlying issues that create conflict.

Avoid court: Stay on speaking terms
The newspapers are full of unfortunate stories about family business owners battling each other in court. They fight for a variety of reasons: inheriting the business, profit sharing or even a reserved parking space. How can family business owners stay out of court and stay on speaking terms?

Inheritor Syndrome: Could it hurt your business?
You work hard to build your family business, looking forward to the day when your children will reap the rewards. But when a substantial portion of the ownership or assets of a family business is transferred to one or more offspring, it can cause a phenomenon known as Inheritor Syndrome.

Wealth Advice/Estate Planning

Estate tax roars back in 2011
Just over the horizon is the return of the federal estate tax. With the estate tax repeal at the beginning of this year, even the largest estates can currently pass to heirs free of estate tax. But a beefed up estate tax is scheduled to return in 2011.

Money in your pocket? Consider your options
You have money left over after paying current expenses. Should you invest it with an eye to income, or should you use it to pay off interest-bearing debt? Here are some of the factors to consider.

New credit card rules may help you rein in debt
The Federal Reserve Board recently enacted rulings to protect consumers from creative practices of credit card companies. The rulings also provide more complete information to consumers on their debt situation so that they can make better informed decisions.