Rhodes Law Blog
Succession Planning for Your Business
What is Succession Planning? You may wonder what is meant by the term “succession planning.” It is the entire process of transitioning your business operation to a new owner, new management team or the next generation of your family. Much more than a mere financial...
Medicaid & Long-Term Care Planning
Will you need long-term care? Studies show that approximately 70% of people reaching age 65 will need some type of long-term care. The average duration of long-term care (including in-home care and institutional custodial care) is 2.2 years if you are male and 3.7...
Beneficiary Designation Mistakes to Avoid
Most people have a substantial percentage of their assets in retirement accounts, stock accounts, bank accounts and insurance policies. These assets are held in “beneficiary form,” meaning you can name a beneficiary to receive the asset or payout at your death. An...
Types of Trusts
People often misunderstand trusts, thinking that they are exclusively for multi-millionaires and their children. While a trust can certainly help someone in that financial situation, trusts can also be helpful in a multitude of other situations. What is a trust? Very...