IRA Distributions Typically, when the owner of an IRA passes, the assets are given directly to the person, or people, named as beneficiaries of the account. These beneficiaries will receive the money outright. This can cause problems for some beneficiaries for a variety of reasons. Whether it is that they have creditors who [...]
Benefits of Having an LLC Creating an LLC is one of the first steps to having a successful business. Why is creating an LLC so important? Having your business organized as an LLC will protect your personal assets from any creditors or lawsuits that come against your business. Without an LLC, your personal assets [...]
How to Avoid Probate without a Trust Avoiding probate without a trust is not always the best solution but it is possible. Most of my clients come to my office with the primary objective of avoiding probate. If your goal is to transfer your assets free of probate, a Living Trust may be a [...]
There are three keys that everyone needs for a complete estate plan. These three things are not just for the wealthy, they are for everyone. If you want to have a complete estate plan, make sure that you have at least the following three things in place. 1. Up-to-Date Trust It is a [...]
Estate Planning for Children from Previous Marriages can be tricky! Estate Planning for Children from Previous Marriages can be complicated. When you add children from previous marriages, planning can become tricky. Typically, when you pass away all of your money will go to your spouse, and then when your spouse passes the [...]
Estate Planning for Single People Estate Planning for single people is often overlooked, it is a common misconception that the only people who need estate planning are those who need to care for their spouse or children after they pass away. Single people have a unique set of circumstances that actually make it [...]
Avoid Estate Planning Mistakes: Avoid Disaster! If you have already set up a revocable living trust with an attorney or certified legal document preparer, you may think you are all set. Be careful, you may not be! There are two common Estate Planning Mistakes that can wreak havoc on your estate plan. Leaving Your [...]
Starting a Business - Choosing a Business Entity: At this point in the business startup process, you should already have a long range plan to make sure that your business will be a success and flourish after you have put in all the effort into the relevant steps. Without a business plan, you will [...]
Compare Revocable vs Irrevocable Trust Options Living trusts are legal documents that you create while you are alive. You use these documents to place your assets into the trust. You do this so that after you pass away your assets are transferred to your designated beneficiaries. The two main types of trusts are revocable [...]
Avoid Sibling Rivalries: WSJ: 'Wills,' prevent protracted legal battles when sibling rivalries are at play; Key to sound estate planning. It’s not uncommon for emotions to run high when family members make wrongful claims to a loved one’s estate. Quibbling over who really was to get that jewelry case, or the heirloom chairs can [...]
