Have you decided to structure your business as a Limited Liability Company (LLC)? It is a popular choice because it is simple to set up and has minimal compliance requirements. You can also rest easy knowing that your personal assets are protected by the LLC structure. To set up your LLC,...
Things to Consider When Choosing Your Health Care Surrogate
A strong, comprehensive estate plan does include planning for the distribution of your assets after you die, but it should also include plans and protections for life’s unexpected challenges while you are alive as well. For instance, there are critical health care documents that should be included in your estate plan...
What Is the Role of a Personal Representative?
Have you been asked to be the personal representative of an estate? Are you in the process of estate planning and are looking for the right person to choose to act as the personal representative of your estate after you pass? Knowing the role and responsibilities of a personal representative can...
The New Estate Tax Bill Proposed by Senator Bernie Sanders
Have you been wondering what all the buzz has been about regarding the federal estate tax? Estate planning is not often a hot topic in the news, but when it is, people should definitely take notice. The big news broke back in March when Senator Bernie Sanders introduced the “For the...
What Can Cause Delays in Probate Proceedings?
Many people try to avoid probate for several reasons. These reasons can include the fact that probate can be quite costly. It is also a matter of public record which means that you lack the privacy you may want for a process that can involve some more personal affairs. It can...
Setting Your Start-Up On a Path to Success
Planning to launch a start-up? It can be one of the most exciting endeavors to take on. When the entrepreneurial spirit takes over, it can make you want to barrel forward at a rapid pace. Setting your start-up on a path to continued success and growth, however, will require a significant...
What Are the Benefits and Disadvantages of Owning a Franchise?
Have you considered owning a franchise? Many entrepreneurs do as it can be a great opportunity to buy into an existing business that already has a solid foundation and structure in place. It is important to know, however, that success in owning and operating a franchise is by no means guaranteed...
What to Know About Spendthrift Trusts
As you may have heard, trusts can play a valuable role in an estate plan for a multitude of reasons. With a trust, a person transfers ownership of assets to the trust in order to fund the trust. Those assets form the trust principle. The trust is then managed by a...
What to Consider Before Buying a Business
Buying an existing business can be a great investment and entrepreneurial adventure. As opposed to starting a business from the ground up, buying an established business can come with trained employees and an established base of customers. It can also come with existing cash flow which means you can start earning...
Should I Have a Buy-Sell Agreement in Place?
There may seem like an endless number of legal documents to consider, have drafted, and executed for your business. Yes, there can be a significant amount of paperwork, but there is also a great deal in business that you will want to protect, including the business itself. Planning for contingencies, for instance,...