Does my business really need one? Have you ever wondered… do I need an LLC for my business? Don’t worry, we are here to help. An LLC stands for “Limited Liability Company”. An LLC is mainly setup to protect the members’ personal assets and keep them separate from the business’s creditors. What does that mean … continue reading the entire article
What’s the difference and why do you need both? Often clients ask, “If a Trust is more effective in transferring my assets, why do I need both?” A will and a Trust go hand-in-hand. We will explain below why you need both and how we can help. The most important difference between a Will and … continue reading the entire article
Wills are documents that allow you to determine to whom your assets are distributed after your passing. A will also indicate who will be the executor of your estate. According to Legal Zoom, it is estimated that about 50 – 60 percent of Americans do not have a will. Continue reading to find out why you should hire an attorney to create your will.
When you receive a gift from someone’s estate, you can refuse to accept the gift for any reason. This is called “disclaiming” the gift. When you disclaim a gift, you have no right to decide who gets it. Instead, the inheritance will pass on to the next beneficiary listed. Once the decision is made and legally filed, it is not revocable.
Assets can be placed directly into a living trust to avoid probate, but also in some situations, you may choose to instead transfer the property by beneficiary deed. A beneficiary deed lists who the owner wants to inherit the property after his/her death. The new deed must be signed and recorded with the office of … continue reading the entire article
Every business owner knows that building a business takes dedication, commitment, hard work, sacrifice, sweat equity, and yes, a little luck. There is nothing quite like the sense of pride and accomplishment that comes from owning a successful business, whether it is a partnership or a family-owned one. To maintain the fruits of your labor, … continue reading the entire article
Estate planning conversations shouldn’t focus solely on what will happen to your assets after death, but also on what may happen if you experience diminishing mental capacity during your lifetime as a result of an accident, disease, medication, or dementia. It can happen at any age. A General Durable Power of Attorney (POA) focuses primarily … continue reading the entire article
Did you know that access to an electronic record is considered a digital asset? You should establish a way to keep track of important logins, passwords, access keys, and personal identification numbers (PINs) to ensure your family and power of attorney can access important online and electronic records when the need arises. Make a list … continue reading the entire article