Estate Planning

Estate of Readiness
Issue: January 2009
Author(s): By Peter Strozniak
Tax PreparationAs his manufacturing business prospered, Roger Valentine realized he needed to protect his assets in case something happened to him. “I could potentially leave my family with enormous messes that they would not be able to straighten out,” says Valentine, president of Rochester Manufacturing Corp. in Wellington. “A lot of businesses fail when something happens to the owner, and the debt is such that a business may be put up for auction, and your family may end up with not...

Leaving a Lasting Mark
Issue: July 2007 Issue
Author(s): Joseph M. Mentrek
When it comes to building, managing and preserving your wealth, The Wealth Center at Meaden & Moore provides the tools needed to reach your goals. The company provides a wide variety of financial planning services, including estate and family, retirement and investment planning; asset preservation; disability; income preservation; charitable and non-charitable gift planning; and business succession planning; among others. “Our approach is values based and client focused,” Joseph M. Mentrek, ...

Planning Above the Line
Issue: July 2007 Issue
Author(s): Maria E. Quinn
Maria Quinn says her business-owner clients are often the least prepared when it comes to estate planning — and they often have the most assets at stake. “Often they’re so busy running their business, they neglect putting their plan down on paper. And that can cause problems for them later,” she says. With offices in Beachwood and Mentor, Maria E. Quinn Co. LPA provides estate planning services to both individuals and business owners, such as will and trust administration; busine...

Problem Solvers
Issue: July 2007 Issue
Author(s): Howard Kass
Eventually, every business owner will leave the business, and if there is no plan for succession in place, the future of the business will be left in someone else’s hands. Cleveland-based Zinner & Co. LLP is a full-service accounting, tax and wealth-management consulting firm that helps individuals and business owners plan for their financial futures. “It’s our job to be problem solvers and if someone comes to us asking if something can be done, it’s not our job to say yes or no,...

Risk Managers
Issue: July 2007 Issue
Author(s): Matthew Cole, Sandy Santana and Brian Kurtz of Baird in Cleveland
Robert W. Baird & Co. is in the asset protection business. “We design, implement and monitor financial life plans for high net worth individuals and their families,” sums up Brian Kurtz, first vice president and branch manager of Baird’s Cleveland office. The international wealth management, capital markets, private equity and asset management firm has offices throughout the United States, Europe and Asia. To help clients manage risk and achieve their financial goals, Kurtz believes ho...

Staying on Top of Legislation
Issue: July 2007 Issue
Author(s): Mark W. Buxton
You’ve spent a lifetime building your wealth, but who will help grow, protect and transfer those assets to others when you’re gone? The Private Client Group at National City offers a wide range of trust and estate services to meet its clients’ individual needs — and has been counseling clients on estate planning for more than 160 years. Whether you own a business or are just beginning your career, estate planning is a financial goal that applies to everyone. In the past, women ha...

Dont Mess with Taxes
Issue: July 2007 Issue
Author(s): Amanda Stephenson
Changes to tax laws have made it more difficult for parents who gift stocks and other securities to avoid a higher tax bite today, as well as when the time comes to plan their estate. Until 2005, the “kiddie tax,” a tax on a child’s unearned income over a certain amount (such as dividends and other capital gains) was paid at the parents’ marginal rate if the child was under age 14. After that, the child was taxed as an unmarried adult who, presumably, fell into one of the lowest ...

Leaving a Legacy
Issue: August 2005 Issue
Author(s): Terri Mrosko
Bill Hawke is used to advising financial management clients on charitable planning. In fact, charitable giving is a longtime passion for this financial adviser who was previously a social worker. In the late 1970s, he wrote grants to request money for a juvenile offender program he was running at the time. Now a certified financial planner with Cleveland Financial Group located on Chagrin Boulevard, Hawke decided three years ago it was time his family understood the importance of giving to charities. He...

Cheat the Reaper
Issue: December 2004 Issue
Author(s): Terri Mrosko
Ask the Experts Q: Why should an estate plan be linked with a business succession plan? A: "Many business owners don't understand the importance of tying their business plan into their estate plan," says Maria E. Quinn, an attorney and owner of Maria E. Quinn Co. LPA. "It has to go hand in hand. It's not just a matter of getting a will and simple trust. You've got to consider, first of all, do you have a buy-sell agreement? Do you have partners? Can your family come in and get their inher...

10.

Hot Spots
Issue: December 2000 Issue
Author(s): J. Alfred Campanelli
Ah , another Northeast Ohio winter. Some people relish it. Really. For the adventurous, nothing beats the thrill of maneuvering around snow-shocked tailgaters on the slick Shoreway or the rush from a 360 degree spinout. For utility companies, liquor stores and tanning salons — winter brings money, money and more money. For many others, the annual deep-freeze provides ammunition for one-upmanship when relatives visit and complain about Houston's heat, Seattle's showers or Gary's green haze. 'That's ...

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