Incorporating a limited liability company (LLC) into your estate plan can be a strategic move to protect your assets, manage your business interests, and ensure a smooth transition for your beneficiaries. By incorporating an LLC into your estate plan, you can leverage the benefits of both business and estate planning. In this blog post, we […]
Tips to Incorporate an LLC into Your Estate Plan Read Post »
When it comes to estate planning, one of the crucial aspects to consider is what will happen to your retirement account. Many individuals opt to name their children as beneficiaries of these accounts, assuming it will simplify the transfer of their wealth in the event of their passing. However, there are several factors that make
Want to Leave Your Retirement Account to Your Minor Child? Consider These Things First Read Post »
When creating a trust, it’s common to designate yourself as the initial trustee responsible for managing all aspects of the trust. However, there are situations where dividing the trustee’s responsibilities between multiple individuals, such as an investment trustee and a distribution trustee, can be beneficial. Let’s explore the reasons why you might consider bifurcating the
Investment and Distribution Trustees: Why Would I Need Both? Read Post »
Losing your job can be a challenging experience, especially in today’s economic climate marked by inflation and the subsequent downsizing of businesses. Many individuals find themselves facing unemployment as companies strive to reduce costs. However, rather than succumbing to the crisis mentality, you can view this situation as an opportunity to protect both yourself and
Estate Planning: Safeguarding Your Family Amidst Unemployment Read Post »
For many, Memorial Day weekend sets the tone for the summer season, beckoning outdoor festivities such as lively backyard barbecues. Although barbecues are generally casual get-togethers, meticulous preparation is essential for a memorable event. Similarly, thorough planning is crucial when it comes to estate planning. Just as you would carefully organize a BBQ, timely estate
Planning a BBQ is like Planning Your Estate Read Post »
Your retirement accounts serve as a shield for your assets during your lifetime. However, once you pass them on to a loved one, that protection disappears. Inherited retirement accounts become vulnerable to creditors who can seize the funds to satisfy their claims. This means that a single lawsuit can wipe away your lifelong savings, leaving
5 Reasons to Protect Your Retirement Accounts Read Post »
Navigating the vast array of trusts can appear overwhelming when creating your estate plan. However, as estate planning attorneys, we handle these matters every day. With our knowledge of the laws, we can design a customized plan that addresses your specific needs. Here’s a brief overview of ten common types of trusts to provide you
10 Types of Trusts Read Post »
The start of retirement marks a significant milestone in life, and it’s a cause for celebration. However, before you embark on this exciting new journey, it’s essential to ensure that you’ve thought through all the necessary aspects of this phase of life. Retirement brings certain estate planning issues that you need to consider carefully. If
Retirement Planning: Key Considerations for a Smooth Transition Read Post »
If you want to safeguard your assets and properties, it’s important to have a solid estate plan that includes various tools tailored to your needs. One such tool is a limited liability company (LLC) that owns some of your accounts and property. Here are some key things to know before adding an LLC to your
Key Things to Know Before Adding an LLC to your Estate Plan Read Post »
The short answer is yes, your trust can retain ownership of your business following your demise. However, several considerations come into play that may influence the outcome. One crucial factor is the type of business interest you possess, such as a limited liability company (LLC), partnership, corporation, or sole proprietorship. Another important consideration is how
Can a Trust Own My Business After I Die? Read Post »
