Posts Tagged ‘ERISA’

Person sitting at the end of a dock on a large lake

For many, asset protection is an after-thought, if thought about at all. Are you aware that retirement accounts such as Individual Retirement Accounts (“IRAs”), 401(k)s and Defined Benefit (“DB”) plans receive protection from creditors and bankruptcy? Asset protection is often associated with high-net-worth individuals, business owners, professionals such as doctors, surgeons, attorneys, and CPAs, as…

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You’re likely a fiduciary. How can you protect yourself? A recent article by Leah Singleton in Directors & Boards highlights a key topic of which many Board members are unaware – they are likely fiduciaries for the company’s 401(k) or pension plans. ERISA defines both who is a fiduciary as well as the duties of…

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As a small business owner, you may have considered selling your business to a competitor or shopped it via a business broker.  One option you might wish to consider is selling it to your employees via an Employee Stock Ownership Plan (“ESOP”).  While every idea has pros & cons, for the business owner an ESOP…

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