You can enjoy dual benefits if you establish an asset protection structure for your small business. Your resources will be out of harm’s way, and you may be able to reduce your tax liability. Limited Liability Company One structure that can be very useful for a wide range of business owners is the limited liability … [Read More]
A Discussion With an Estate Planning Lawyer
Imagine yourself striking up a conversation with the person sitting next to you on an airplane. You find out that they are an estate planning lawyer, and they are open to answering questions that you have about the subject. This would be a great opportunity to walk away with some important information. In this post, … [Read More]
Estate Planning: Separate Fact From Fiction
People sometimes pass along “information” about estate planning that is untrue or incomplete, and this can lead to mistakes that yield negative consequences. In this post, we will look at a handful of estate planning myths that can lead you astray. DIY estate planning is a simple solution. You can buy generic, fill-in-the-blanks legal documents … [Read More]
Neither Age Nor Health Determines Whether You Need an Estate Plan
Most people associate Estate Planning with the elderly or very wealthy. This article explores situations in which Estate Planning for the young and healthy is advisable. Read on to learn more. [Read More]
What Are the Responsibilities of a Fiduciary?
A fiduciary is an individual or entity that has a legal responsibility to look after the best interests of an engaged party or parties. There are fiduciaries that play a role in the estate planning process, and we will take a look at the subject in this post. Estate Executor When a will is used … [Read More]
Own a Vacation Property? You Need a Living Trust
If you have the means, an out-of-state vacation home can enhance your life. You and your family and friends can relax, unwind, and have fun together when you have the opportunity, and you are making a good investment that can yield financial dividends. At the same time, there is an estate planning consideration, and we … [Read More]
Can You Use a Transfer on Death Account to Avoid Probate?
You should have a general understanding of the estate administration process when you are engaged in your estate planning efforts. Most people think that they should use a will to facilitate asset transfers, but there are reasons why you may want to go in a different direction. A will is admitted to probate, which is … [Read More]
Estate Plan Revisions May Be Necessary
When you put your initial estate plan in place, it should be viewed as a starting point. You are covering your bases in the present, but things will invariably change as the years pass. Family Evolution An estate plan for a relatively young, single adult is usually going to be simple and straightforward since there … [Read More]
These Simple Actions Will Jumpstart the Estate Planning Process
A lot of people that do not have estate plans in place know that it is a responsibility that they should address, but they do not know how to begin in earnest. As a result, they continue to procrastinate, and their families are at risk. With this in mind, we will share three relatively easy … [Read More]
Jim Morrison Estate Planning Mistake Remembered on Anniversary
There are few if any figures from the classic rock era that are more iconic than Doors lead singer Jim Morrison. He was a hard living wild child, and he could never find inner peace. Ultimately, he passed away in Paris, France from an apparent drug overdose. This was on July 3, 1971, so the … [Read More]
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