Articles

A Grantor Retained Annuity Trust is a popular estate-planning tool used by business owners for wealth preservation. When utilized properly, a GRAT can assist in transferring wealth on a nearly taxfree basis.

While high-profile cases such as Tyco, WorldCom and Enron garner the headlines, companies of all sizes can be affected by corporate fraud. The types of schemes used to misappropriate funds vary in nature but are similar in the fact that they can be extremely costly.

The one maxim that holds true for all business owners is that eventually they will be forced to exit their business. For many, the next best thing to perpetual ownership is having a child assume control.

Typically, nonpublic companies obtain an audit of their financial statements only if it is required by a third party, such as their financial institution, other lender or investor. However, there are a number of reasons why obtaining audits can be beneficial even if there is no thirdparty requirement.