Preparing your small business for your incapacity or death is vital to the survival of the enterprise. Proactive financial planning -- including your business and your estate plan -- is key.
Are your beneficiary designations consistent with your estate planning wishes? In the event of your untimely death, the manner in which your beneficiaries receive your assets, including life insurance, depends on how your property is titled.
When you create a living trust, you usually need to choose who to name as your successor trustee. It is crucial that this decision is not taken lightly and that the right person is selected for the job.
The value of your house is based on the fair market value, regardless of any amount you owe on the house.
As an Estate Planning Attorney, obviously the proposed repeal of the estate tax is a huge unknown for me and my clients as we look at long-range planning. As an attorney who advises small businesses and a small business owner myself . . .
If both parents of minor-aged children die intestate, then the children are left without a legal guardian. Kids don't automatically go to a godparent or an aunt, for example, even if that's what everyone knew the parents had intended.
Estate planning creates stability in times of loss. If you end up in a state of incapacity later in life, it’s guaranteed to be a difficult time for your family. If your estate plan doesn’t include detailed instructions
Your family matters, and will be affected by your death, no matter how little or how much you have. Estate Planning is about having a plan in place that will help ease some of the stress that inevitably follows a loved one’s passing.
Many people put their estate plan on their to-do list as a one-time project: “Create estate plan” or “Meeting with lawyer 10:30 a.m. Thursday for estate plan.”
Thinking of your estate plan as a single project or task to complete and move off…
Too many people make the mistake of trying to set up a pet trust themselves, assuming that a form downloaded from a do-it-yourself legal website will automatically work in their circumstances.