People who own business assets with others can easily facilitate inheritance of their shares outside probate after death. As a business owner, you may consider titling your assets jointly depending on your state’s laws. By definition, joint ownership refers to the possession of the same asset by more than one person. These assets not only…
In the articles section you can find blogs that discuss all areas of Estate Planning. By going to the articles section and reading some of the blogs you are able to better educate yourself on the different products and concepts of estate planning.
Estate Planning includes:
- Planning for pass through of assets upon death,
- Planning for minors (Setting up guardianship designations or special needs trusts),
- Utilizing tax mitigation strategies (for example the current gift tax exemption),
- Creating a form of asset protection (from creditors and predators or as a form of marital asset protection),
- Setting up healthcare proxies ( giving someone your trust the ability to make healthcare decisions for you in the event you are unable to do it for yourself),
- Setting up Power of Attorney (enabling someone to make executive decisions regarding your assets and finances in the event you are unable to and it is necessary),
- Medicaid or Retirement Planning (Divesting yourself of assets to qualify for Medicaid or Government subsidies),
- End of life planning using living will or last directive (Indicating burial requests and tube feeding or resuscitation in the event it is necessary).
In the articles section we have gone ahead to make it easier for you to find the topic of interest by creating subcategories. Our goal is to make it simple and easy for people to come to our website in order to educate themselves about the different types of trusts for example Revocable Trusts and Irrevocable Trusts or Special Needs Trusts and Supplemental Needs Trusts.
In the articles section you will find the following subcategories:
In this section you can find a broad stroke of articles/blogs covering all topics related to creating and understanding an estate plan.
A very common concern for people with families or high risk professions for example doctors, lawyers, policemen, firemen, accountants and so on. Newlyweds seeking marital protection and people with large cash liquidity might also be worried about their exposure and seek asset Protection.
At some point in our lives we are done working and are ready to retire and want to know the best practices for retiring. Here you can learn about pass through of assets, divesting of assets and planning for your final days.
Here you can learn about tax mitigation strategies.
Here you can learn about assigning guardianship for minors or assuming guardianship over a loved one who is mentally handicapped.
Everyone wants to plan for events while they are alive and not just after death learn more here.
What happens when someone dies or passes away with a Will.
Flexibility when it comes to planning.
The different types or forms of trusts and their uses.
Planning for Medicaid and Retirement.
Special Needs Trust
Planning for people with disabilities.
Planning for pass-through of assets.
Will and Trust
Different uses of having both documents a Will and some form of Trust.
If you are shopping around or look for ways to vet an Estate planning Attorney/Lawyer and wish to better educate yourself on the topic the articles section is for you.
Apart from writing a will, you may also decide to put your business assets into a trust. This is a legal platform that facilitates the distribution of any assets you possess to your beneficiaries without probate. The business owner or grantor dictates the conditions of the trust. Such terms include naming the beneficiaries, and listing…
The probate process can seem endless for many people. Going through the paces of this process while you grieve can be a tough task. Therefore, it is just natural to wish to know the duration of the process when you have business assets locked in a succession battle. Business assets make the probate process longer…
A living trust is a lawful element that empowers entrepreneurs to decide and appropriate how their investments will be appropriated upon their passing. Among other benefits, a living trust protects the family of the business owner from being troubled with business obligations including debts after they are gone. Placing your business into a trust means…
When a business has to go through probate, chances are high that there will be high costs incurred. This is common, but can be avoided with prior planning and knowing the probate process well. An executor or administrator to the business should be conversant with the whole probate process, and if not, they should seek…
As a business person, you can decide to allow your family to either sell the business or continue running it after you pass away. For each of these two options, proper planning with a “probate attorney near me 11509” in tow is required to ensure that your business is passed onto the family without unnecessary…
Many people dream of winning the jackpot. When you do so, take some time to manage the winnings smartly. Some jackpot winners will choose revocable RLTs to secure their winnings. When you decide to go this route, try and create a RLT fast. However, before you go ahead and come up with this RLT, determine…
How to avoid probate on contractual properties: A Guide by a Certified “Probate Attorney Near Me 11507
Contractual properties are the type of property one buys but doesn’t fully own, as they make the payments in instalments. This can be due to different reasons, one being they do not qualify for funding by a financial institution, or mortgage. Some might not have a good credit standing, hence cannot get a loan to…
Probate is the process of analyzing and managing transfer of assets that were titled in the decedent’s name. Everything that the deceased owned falls into estate property immediately after owner’s death. A probate executor that specializes in business assets is hired to determine business resource value. Factors To Consider During The Probate Of Business Assets…
The first part of the series has looked at a few ways to add assets to a RLT to make it valid and operational. This part picks up from where we left off and explains other ways to fund your trust. As stated earlier, you need to fund your RLT to make it valid and…