Buy-sell agreements are a term many business owners know about but often don’t consider for their business despite the fact that they should. If you are unfamiliar with it, Investopedia defines it as “an approach used by sole proprietorships, partnerships and closed corporations to divide the business share or interest of …
Read MoreKeeping it in the Family – Probate of a Will
Family-owned businesses are one of the frequent assets probate attorneys see in estate planning and probate of a will. It is wise when you create or adjust your estate plan that you lay out specific instructions if you are a business owner and continue managing the company past retirement age. …
Read MoreCommunication is Key in Estate Planning
The key to successful estate planning is communication from the outset. In planning, most distribute their wealth and assets equally to their heirs. Some, however, opt for unequal distribution. This typically occurs under certain circumstances such as an heir with a disability or an estranged son or daughter. If you …
Read MoreWhy You Should Consider a Pet Trust
For many people, pets are part of the family. So why not treat them that way in your estate planning and create a pet trust? If you truly want your pet to be taken care of in the manner you dictate, then you may want to consider creating a trust …
Read MoreElder Law – Considerations for Choosing Your Successor
For many, choosing a successor to handle one’s estate is a sensitive topic in elder law. The common choice many make is to select one of their children or beneficiaries. But there are things to consider if you opt for this route. With family members, there is always the risk …
Read MoreCommon Excuses for Avoiding Estate Planning
Many individuals avoid meeting with an estate planning lawyer for a variety of reasons. Ranging from “I don’t own enough to worry about it” to “I don’t want to think about dying” and everything in between, it is easy for most to continuously put it off. The problem with putting …
Read MoreMixing Long-Term Elder Care with Life Insurance
Long-term Elder Care and Life Insurance: In order for your lawyer to create a comprehensive estate plan: you need to review not just your documents. But also your portfolio of assets to ensure that you are protected from future events. One of the biggest reasons people have a sharp aversion …
Read MoreNew Year, New Estate Plan
New Estate Plan for the New Year The clock strikes midnight, the champagne is popped, and you’ve finished your rounds of “Happy New Year!” to your family and friends. Now what? Typically, January 1st consists of hard reflecting on the new year’s resolutions we plan to implement and hopefully carry …
Read MoreWhat is Your Digital Legacy?
How often do you think about your digital legacy? When we think of estate planning, one of the first things that comes to mind is a list of the assets we own. But have you ever considered your digital assets as a part of this list? Are you aware of …
Read MoreNew Proposed Estate Tax Regulations: What You Should Know
New proposed estate tax regulations by the U.S. government could have significant consequences for some taxpayers. According to a recent article in The Miami Herald, “the U.S. government is now proposing new estate tax regulations that will make transferring assets without paying hefty estate taxes much more difficult.” This means …
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