Business succession planning (i.e., an estate plan for your business) is a crucial component of personal estate planning that ensures a smooth transition of ownership and management of a business from one generation to the next. Succession planning involves the development of a comprehensive strategy to identify potential successors within the organization, as well as…
Estate planning goes hand-in-hand with probate. Probate serves to legally transfer your assets to your heirs. Estate planning ensures that your assets are transferred in the manner you decide. You maintain control as to who receives your property and in what shares. Working with an experienced attorney can enable you, in some cases, to reduce…
What happens to my pet after I die? Our estate planning attorneys help you answer that question, and give you the peace knowing that your pet will be well taken care of after you are gone. For many pet owners, their furry friends are not just animals but beloved family members. The thought of leaving…
If you own a home, business, or investments, there is a good chance that you will need a trust to protect your wealth. Because individual needs vary, it is almost impossible to approach trust creation from a one-size-fits-all perspective. Instead, your individual needs, personal goals, familial circumstances, and finances must be considered as a whole…
What is an NFT? An NFT is the acronym for Non-Fungible Tokes. A NFT is something that is one-of-a-kind. It is unique but unlike, say a work of art, you cannot touch it. It is actually a digital asset. JPG files, GIF files, and MP3 files all might be examples of NFTs. Why is owning…
What is Crypto? Cryptocurrency is, “a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.” Decentralized, meaning that it’s an organization controlled by several offices or authorities, rather than one single office of authority. How are Cryptocurrencies different from typical assets when…
Most attorneys and law firms have their own approaches to legal representation. At our firm, we prefer an approach where we: First, engage in a fact-finding mission with our client in order to get the ‘lay of the land;’ Second, identify our clients’ goals, objectives, and primary concerns; Third, provide information and education to our…
When considering trusts, it is helpful to keep in mind three central “characters.” These include the Grantor, the Trustee and the Beneficiary (or Beneficiaries). The Grantor is the person or persons who originally set up the trust. They set the terms of the trust and provide for its funding. The Trustee is the designated person…
Forming a new business is an exciting venture thousands of Americans take on each year. According to the Small Business Association (SBA), over 627,000 businesses are formed annually. When forming a new company, it is imperative to legitimize your operations by establishing it as a legal entity. This will help you protect yourself, your partners,…
Trusts Trust are very powerful and effective devices with regards to estate planning. Today, trusts are not just used by the very wealthy. People with a wide variety of income levels use them as estate planning tools too. Trust are very different from a Will. What is a Trust? A trust is often its own…