You have a vision for your family business that goes beyond your immediate interaction with it. You want to leave it to your children. You hope that they can in turn leave it to your grandchildren. You want to create a legacy that spans the generations and provides income and opportunities for decades to come. It may happen, but you…[...]

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Parents know that a big part of their estate planning is simply leaving money to their children. Physical assets do play a role, but many parents simplify their estate by selling assets before they pass away — selling the family home when they go to a nursing home, for instance, and simply leaving the money from the sale to the…[...]

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For some people, the word “trust” conjures up images of spoiled college-age children living off the largesse of their families. However, trusts are not solely the domain of the incredibly wealthy and elite. Instead, trusts are wonderful estate planning tools for Americans of all incomes. The creation of a trust gives you more control over the use of your assets…[...]

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You could argue that one of the most common estate planning myths is that you can do it later, that you’ll always have time to get around to it. People do think this way, but most people technically do know — even if they still haven’t done their estate planning — that they can’t predict when they’ll need it. Life…[...]

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The family-owned business is often thought of as an American staple, the thing that forms the backbone of the economy. That said, there are many different businesses that people choose to start. They all operate much differently and those planning to pass their businesses on to their children need to plan accordingly. Some of the common businesses that families own include: Retail…[...]

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It’s important for everyone to know all that they can about estate planning. That means men, women, married couples, single people and anyone else. Far too many people enter old age without an estate plan or pass away without even a will. However, there is a special amount of focus on women when it comes to estate planning, and the…[...]

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Financial experts note that one of the main mistakes people make with their estate planning is simply that they let the plan become outdated. This often means that they do not update it through major life changes, like starting a business or starting retirement. However, you can also let your beneficiary designations become outdated, and that’s equally troubling. Even if the…[...]

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For most people who start a family business, the dream is to have it stay in the family for generations to come. The founder may think of that as a gift to the family, giving them meaningful employment and an easy income. They may think of it as a stepping-stone, assuming that their children can build on what they started.…[...]

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It has become common knowledge that disability rates have steadily risen among children, which makes the need to understand the importance of a Special Needs Trust (SNT) even more significant. Defined, a SNT Protects the rights of the disabled individual to maintain their eligibility for public assistance benefits. If you left your disabled beneficiary money or property via your outright…[...]

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We established this blog to share stories and information about topics relevant to our practice. Our intent is to regularly provide posts highlighting legal issues of local, state and national interest that we think you will find interesting. Check back later for updates.[...]

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