The trustee you select when establishing a trust is a pivotal decision in your estate planning journey. In the case of a revocable living trust, which you create during your lifetime and can modify at will, you may initially act as the trustee, retaining full control over and benefit of the assets within it. However, […]

One of the primary motivations behind creating a revocable living trust, a trust established during your lifetime that you can modify or revoke, instead of relying on a will to distribute your assets to beneficiaries, is to sidestep probate. Probate is the court-supervised process during which a will is validated, and your assets are allocated

In the realm of small businesses, employees are undeniably vital. The process of hiring and retaining workers stands as one of the foremost challenges faced by business owners. In today’s fiercely competitive labor market, employers are actively seeking ways to gain an edge in attracting and retaining top talent. While factors other than compensation often

The realms of buying a business and investing in real estate are distinct in many ways. Business ownership necessitates management skills, market insights, knowledge of consumer trends, and financial acumen. In contrast, real estate ownership typically involves a diligent upfront investigation but offers passive growth with fewer management responsibilities. The skill sets required for success

Married life often entails sharing nearly every aspect of existence, but when it comes to confronting mortality, conversations can grow difficult. Surprisingly, studies show that half of all couples fail to discuss their end-of-life wishes. Death may be an irrevocable departure for the deceased, but for the surviving spouse, it can raise numerous unanswered questions.

Transactions often lead to debts owed to individuals, whether it’s lending money to a friend, conducting business deals, or leasing property. But what happens when the person to whom the money is owed passes away before they can collect? Can someone else step in to recover these outstanding debts? If you’re grappling with the passing

Small businesses, typically employing fewer than 50 individuals, aren’t legally obligated to offer employee health insurance. However, providing health coverage is a highly sought-after job benefit. In fact, about two-thirds of business owners use health insurance as an attractive tool to recruit and retain top talent. Whether health insurance for employees is mandated by law

The global online marketplace, Etsy, has swiftly transformed from a niche craft platform to a colossal commerce hub. With millions of active sellers worldwide, many of whom are based in the United States, Etsy has become a substantial income source for numerous individuals. However, whether your Etsy store is your primary business or a supplementary

For individuals with substantial wealth, the joy of sharing the rewards of hard work with loved ones can be tempered by concerns about potential gift and estate tax implications. High net worth clients can navigate this complex landscape through strategic estate planning. This involves utilizing specialized trusts that allow wealth sharing while minimizing tax burdens.

Incorporating payable-on-death (POD) or transfer-on-death (TOD) designations into your financial accounts can offer a convenient way to pass on your assets to chosen beneficiaries after your passing. Much like trusts, POD and TOD accounts bypass probate, offering a swift and cost-effective transfer process. However, these designations come with certain limitations when compared to traditional trusts.