According to the Small Business Administration, about 90 percent of all U.S. businesses are family owned and controlled. Unfortunately, only about 30 percent of these businesses pass successfully to the second generation. What is worse is that only about 15 percent of those then pass to the third generation. A comprehensive business succession plan can […]
About Michael Lonich
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Entries by Michael Lonich
Prince William recently announced that he and his long-time girlfriend, Kate Middleton, are engaged. The couple met nearly eight years ago while attending the University of St. Andrews in Scotland. The prince decided to propose to Middleton while on a vacation in Kenya, and he surprised her with his mother’s sapphire and diamond engagement ring. […]
If you are confused about the difference between a revocable and irrevocable trust, you are not alone. In fact, they do have some similarities. For example, both revocable and irrevocable trusts allow the settlor (person putting assets in the trust) to distribute or transfer their property as provided for in the trust document. The main […]
Not all states recognize the rights of lesbian, gay, transgender, or bisexual (LGTB) partners to make end-of-life care decisions for their significant others. This can lead to distressing situations where a loved one’s wishes are ultimately disregarded. However, in California, most of the rights and responsibilities that apply to married couples also apply to same-sex […]
April 16, 2010 is Health Care Decisions Day, a national campaign to encourage Americans to complete their advance directives, living wills, and basically document their preferences regarding medical treatment at the end of life. Researchers at the University of Michigan in Ann Arbor have discovered that almost a third of patients over the age of […]