Most parents feel strongly about ensuring that their children are treated equally in their will. For many, this is a moral obligation, and, on the surface that would seem easy to accommodate. Often, however, this is not the case. Most estates are not totally liquid at the death of the testator and some assets are harder to divide than others. This is particularly true when a family business is involved, especially when many business owners have up to 80% or more of their wealth tied up in the family enterprise.
We often hear about the need to provide for our families, and protect their financial security through the use of various insurance products. We’re always preparing for what happens when we die, or become ill. It’s important to plan for the inevitable, or the unfortunate, but let’s take a step back for a moment. Read more