Chipman Mazzucco Emerson LLC

January 2018 Archives

How to make a company an acquisition target

In 2017, there were $2.7 trillion in business acquisition deals, and that number is expected to climb to $3.2 trillion in 2018. Large companies may be interested in acquiring startups in Connecticut and throughout the country as a means to quickly grow their businesses. While this was once a strategy employed mostly by tech companies, other organizations also use this tactic these days.

Why now is the time to review an estate plan

Due to recent changes in the federal tax code, Connecticut residents and others may need to schedule an estate plan review. This may be true regardless of how recently the plan was created. One of the most significant consequences of recent tax reform was the increase in the federal estate tax exemption. Couples may now have an exemption of up to $22 million compared to just $600,000 in 1997.

Management, ownership transfer important part of succession plans

When the time comes to let go of your business, you may have many concerns. Who should take over? How will daily operations change? Should you sell the business outright or allow a family member to continue in your footsteps? These questions can plague any business owner, and you may worry that you will still not have solidified the answers when the time comes for you to retire or in the event of your untimely demise.

Common startup company mistakes

The decisions that entrepreneurs in Connecticut and around the country make before launching commercial ventures often cast long shadows, and their eagerness to get their new businesses up and running can sometimes lead them to make choices that may seem unwise in hindsight. Entrepreneurs must choose what type of product or service they will bring to the market and how they will obtain the funds necessary to cover their startup costs. Devoting sufficient time to these important decisions can help them to avoid many common pitfalls.

Estate planning for art collections

Wealthy people in Connecticut often enjoy collecting art, buying it for personal and aesthetic reasons while also enjoying its appreciation in value. While some of these collections may be invaluable, many collectors fail to properly plan for how they will be passed on to beneficiaries.

Your rights as a nursing home resident

You may be like numerous other Connecticut residents who decided that moving into a nursing home was the best option for you. You may only need some extra help due to a physical limitation, and you don't feel comfortable living on your own any longer. Maybe you don't want your children to put their lives on hold to help you out, and you want to be with people your own age.

When and why should you update your will?

As the minutes pass, the hours tick by, the weeks rolls by, and the months peel off the calendar, many things in your life will change. This happens regardless of whether you have a will or not. But when you do have a will, these changes in your life take on new meaning, aside from their literal one. When a major life event occurs, or a change in your life circumstances occurs, you need to think about your will.

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