Entrepreneurs often want to know what type of business entity they should set up for their companies. Limited liability companies (LLC) offer several surprising advantages, whether you’re expanding a brick and mortar retail operation or scaling an online business. Traditional corporations, also called C corporations, pay taxes on profits, while shareholders pay taxes on dividends,…
When you hear the term “estate planning,” you might envision an older couple arguing over how to divide their copious assets, properties and business holdings among numerous relatives – not someone closer to your age waylaid by student debt and uncertain job prospects. All that said, now is the time to start thinking about the…
As Thanksgiving, Christmas, New Year’s and the winter holidays approach, you might be daydreaming about a skiing trip to Mammoth or a Hawaiian vacation to escape the cold. Or you might be savoring (or, perhaps, less then eagerly anticipating) the thought of reconnecting with your extended family, who’s typically scattered across the country. Whether you’re…
In a previous post, we explored three key ideas about living trusts. Here are four more fascinating insights into how to make the most of these instruments to plan for your future. What a Living Trust Can and Can’t Do for You A living trust can prevent your estate from going through probate court, delaying…
While most Baby Boomers have wills in place, millions of soon-to-be-retired Americans haven’t yet established estate plans and made critical decisions about future care. Many also don’t appreciate the sheer diversity of planning instruments available to ensure their wishes, protect their assets and prevent fighting among beneficiaries. A living trust, for instance, provides a slate…
Actor Robin Williams’ widow and three children recently settled a dispute over his estate that began just months after his death at age 63. At the heart of the matter was a question over the meaning of specific words in the trust paperwork – including which personal items should be considered “memorabilia” and “jewelry.” Questions…
Perhaps you and your spouse worry about succession of your farm – whether you’ll be able to keep it in your family or you’ll need to sell it. Or maybe you’re facing an imminent medical problem in the family. In either case, you’re understandably concerned that so-called “creditors and predators” might undo all your…
You and your spouse have worked hard and saved. You’ve enjoyed the good fortune of having assets that have appreciated over time. At the same time, you’re confused about which estate planning solutions can help you preserve your assets and allow you to pass on your wealth without your having to pay exorbitant state or…
One common way to avoid probate of real estate after the owner dies is to hold the title to the property in joint names with rights of survivorship with children or other beneficiaries. This is accomplished by adding the names of the children and certain legal terms to a new deed for the property and…
I’ve been doing some business out in Las Cruces, New Mexico recently. This was my first time to visit this part of the United States, and I have to say I’m glad I discovered this part of the world. I had always thought of Southern New Mexico as a desert, and the White Sands National…
