Estate Planning for Business Owners: Navigating Succession Challenges and Safeguarding Business Assets

Estate Planning for Business Owners: Navigating Succession Challenges and Safeguarding Business Assets

By Brian Figeroux, Esq. | Editorial Credit: Southworks/shutterstock.com  Key Points of this Analysis Succession Planning: Users emphasize the importance of having a clear succession plan to ensure the business continues smoothly after the owner’s death. Valuation and Division: Estate planning professionals discuss methods for valuing and dividing business interests, particularly when some heirs are involved […]

Chapter 13 vs. Chapter 11 Bankruptcy for Small Business Owners in New York: Navigating Your Options

Chapter 13 vs. Chapter 11 Bankruptcy for Small Business Owners in New York: Navigating Your Options

Editorial Credit: Vitalii Vodolazskyi / shutterstock.com  If you’re a small business owner in New York grappling with insurmountable debt, missed payrolls, or unpaid suppliers, you may be considering bankruptcy as a way to manage your financial crisis. Choosing the right type of bankruptcy—Chapter 13 or Chapter 11—can make all the difference in how effectively you […]