Pinion Insights: Posts from category

Next Gen

The Flip Side of Estate Planning: Why Many Don’t Bother

By Pinion Editorial | September 26, 2023
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Reading Time: 3 minutes
While the majority of Americans see the importance of retirement planning, most neglect estate planning. 6 in 10 Americans have a retirement account, only 1 in 3 have an estate plan. The most common reason for avoiding a will, trust or estate plan? Procrastination. 40% say they plan to wait …

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How the Holidays Can Shape Your Family Legacy

The Risks of Letting Your Legacy Ride: How Estate Planning Protects the Family

By Pinion Editorial | March 3, 2023
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Reading Time: 3 minutes
Ask any successful family business leader “What is your most important accomplishment?”  The overwhelming response is: ‘my legacy’.  And yet, only one in six have an estate plan.  Why work so hard to build a legacy, but do nothing to protect it?     “One of the most important things you …

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succession

Answering ‘Who Comes Next?’: Key Ways to Avoid Succession Failure

By Pinion Editorial | December 19, 2022
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Reading Time: < 1 minutes
Ten thousand Baby Boomers retire daily. Yet only 21% of organizations report having a formal plan for succession in place. Time and time again, not having a succession plan in place has proven itself the biggest detriment for business survival in uncertain times. Pinion Next Gen Advisors share succession planning …

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How the Holidays Can Shape Your Family Legacy

How the Holidays Can Shape Your Family Legacy

By Jeanne Bernick | November 22, 2022
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Reading Time: 2 minutes
By Jeanne Bernick, Certified Family Business Advisor For many of you the stress of harvest season is over and now you enter a new season in family business: the holidays! As if working with family isn’t challenging enough, now there are mandatory meals and celebrations and traditions to recreate, not …

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Tax Inflation Adjustments

IRS Releases Tax Inflation Adjustments for 2023 Tax Year

By Pinion Editorial | November 14, 2022
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Reading Time: 2 minutes
While inflation continues to burden Americans with higher prices on what seems like everything, the IRS has released some good news for taxpayers. In October, the IRS unveiled its inflation adjustments for the 2023 tax year with many tax provisions increasing by approximately 7%. This means you could pay a …

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Multi-Generational

A Case for Multi-Generational Farming: The Result of Planning for Change

By Kala Jenkins | April 20, 2022
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Reading Time: 2 minutes
A multi-generational (six-generation) agriculture business that had been passed down from parents to their three sons engaged a succession planning expert. The three sons were married and had adult, married children, and young grandchildren. The expert started the process by having individual conversations with each family member. Through the course …

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land ownership

The Changing Dynamics of Land Ownership

By Jeanne Bernick | March 23, 2022
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Reading Time: 2 minutes
Changes in land ownership and the farming workforce are unfolding across U.S. agriculture. Among key drivers, of course, is the aging population of American farmers and ranchers: In the next 15 years, the ownership of 40% of America’s agricultural land will be in transition, mostly due to aging landowners, reports …

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How to Secure and Update an Estate Plan Ahead of Changes

How to Secure and Update an Estate Plan Ahead of Changes

By Jim Rein | May 17, 2021
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Reading Time: 2 minutes
With the buzz around Washington, D.C. about the looming tax changes ahead, estate planning is on top of the list to have the most potential for impacts to individuals and business owners.  “Our phones have seen a definite uptick in activity with questions about considerations and alterations around estate plans, …

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