A probate attorney is a lawyer that is assigned to help an executor or administrator of a business or estate with the probate process. Most people might not be aware, but such attorneys are available for consultation, and they can even be hired by a business to help it put a business continuation plan in…
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A life estate is an estate planning instrument that assures the homeowner of the right to live in and enjoy their home till they pass away. When, unfortunately,you pass away, the life deed guarantees smooth succession to your named heir. contrary to popular belief, losing your home is easier than losing a business. For statistics,…
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One of the top controversies that arise when someone passes away is how the family business will be inherited. In many cases, the issue has to go to the probate court because the different parties couldn’t agree on the ownership. Studies show that only 12 percent of family-owned businesses survive to the third generation. Your…
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A buy-sell agreement is one of the most powerful tools used in business. When used properly, it secures your business from uncertainties such as death. One of the worst mistakes a business owner can do is to fail to come up with such an agreement. This article discusses what a buy-sell agreement is and why…
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One of the top ways to avoid probate is to work with a qualified attorney. Probate law has qualified people that can help you – and then some aren’t as good as you expect. Not every law graduate is superb at providing legal services, and at times it takes a little more research to find…
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If you don’t come up with a clear succession plan, then your business property will end up in probate court. The process involves your property going to the probate court to decide what happens to the property. Avoiding probate is the best gift you can give to your loved ones when you pass away. Let…
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One of the ways to avoid probate on investment accounts is by adding potential heir to any investment accounts that you own. This will help save your heir’s money, time, and energy the time they need it most. You can reduce the challenges that come with failure to name heirs by ensuring you communicate your…
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Transfer on death accounts allow for the beneficiaries to receive assets at the time of owner’s death without going through probate. We won’t talk about setting up the account as we have done so in earlier posts. You can also talk to your “probate lawyer near me 11518” to get the procedure. Pros Of Using…
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The kind of business determines how it is to be handled basing on how it was owned and operated and the wishes of the deceased left in the will. The executor acquires a letter of administration to enable them govern business during probate. Business assets are dealt with differently basing on factors like if the…
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Every online entrepreneur needs a living trust. A living trust is an instrument that empowers entrepreneurs to decide how their investments will be distributed upon their passing. Among other benefits, a living trust protects the family of the business owner from being troubled with obligations including personal debts after they are gone. Setting up a…
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