Business real estate probate takes place once the owner passes away and they leave behind assets and income that needs to be shared between the beneficiaries. Real estate can only be probated when there is no will or living trust to guide the inheritance process. When a business owner passes away without a will or…
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Most countries allow certain business assets to be transferred to beneficiaries free of tax once the owner dies. However, this is not a guarantee. Large businesses may have bigger problems sharing their assets among beneficiaries because most of these businesses include offshore operations. As an agribusiness owner, part of your planning should include considering what…
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A sole proprietorship is a business operated by one person. It is very common with small business we see around us. Such businesses have a harder time to recover when their owners die because of their nature. Most do not plan in advance to safeguard their businesses as it is mostly a one-man show. Writing…
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The probate process can be quite long and exhausting, so if one can avoid it then the better. Business owners can plan well and save their businesses from going through probate. In a business partnership, there are two or more people who own the business; hence they would have to agree on ways to go…
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Securities are tradable financial assets. These represent an investment on your part, and for businesses, they are means by which you can raise capital for your business. Securities are regarded as assets for individuals and businesses, which mean you need to secure them for the future. Failure to do so means they might end up…
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As much as most probate processes run smoothly, it is common that one can encounter some challenges. This makes the process to run longer than expected, as there will be a lot more involved. Depending on the situation, some processes can drag on for several months or even take years. This can be very draining…
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When a person dies without a will, it does not mean that their estate should not be accounted for. When there is a will, the beneficiaries can get the help of a lawyer to process their inheritance. When there is no legal will, the deceased’s estate will not be distributed according to their last wishes.…
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Everyone’s dream while still alive is to avoid probate on their estate when they die. The process itself is quite tiresome and expensive, so avoiding it is the best thing one can do for their family. Since it is a court process, it is bound to take more time than expected, and at a cost.…
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The route to estate planning is complex and long-drawn. There are many angles that you need to check and review at regular intervals to keep your estate plan relevant. A smart probate attorney near me 11560 will be in a position to help you create a clear strategy. The strategy should be one that will…
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After probation, liquidation means the distribution or selling of assets that have been received through probate. This is one of the roles of an estate executor. If there is a valid will, this is an easy process as specific beneficiaries are assigned to the assets. In this case, the distribution is done as per the…
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