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Starting a new company with your spouse can be an exciting and rewarding adventure. Combining your personal and professional lives can strengthen your partnership and create a shared vision for your future. However, it’s important to approach this venture thoughtfully...
Starting a business is always an adventure – and it can be even better when you’re in it with family members. Family partnerships tend to have a built-in level of trust, shared communication styles, a clear understanding of what each party brings to the equation and a...
If you have a loved one with a disability, it helps to tailor your estate plans accordingly to protect their interest and well-being long after you are gone. A special needs trust (SNT) can help you do this. An SNT works like most irrevocable trusts. It is managed by...
Most people in the United States know that you typically can’t just walk into a store and purchase a firearm. Instead, you likely have to go through a background check to make that purchase. Because they’re highly regulated, firearms present a challenge when a person...
As you work on your estate plan, you realize that you have two main goals. For one thing, you’d like to eliminate disputes between your beneficiaries after you pass away. You don’t want to create long-term arguments or drive a wedge between two family members. Your...
Estate planning can be overwhelming but is nonetheless one of the most critical tasks you may ever undertake. Incorporating simple tools like Totten trusts can make it easier to give to certain people. A Totten trust (AKA payable on death account) is merely a bank...
A will is the starting point of any estate plan. This legal document provides instructions on how assets should be distributed upon an individual’s death. However, a will can also carry out several other functions. To ensure that a will serves its intended purpose, it...
Making an estate plan is certainly important. But many people make the mistake of creating the plan and then neglecting to update it. The plan slowly becomes outdated and, by the time they actually pass away, there could be major issues that the family has to sort...
One of the primary purposes of an estate plan is to dictate who gets what when you die. There are several tools available to do this, so you must understand the options that you have. The irrevocable trust is one of those tools. There are a few very specific points...
A will is the foundational element of virtually any estate plan. It provides instructions on how assets should be divided upon a person’s death. It can also serve other purposes such as naming a guardian for minor children. Nonetheless, for a will to be legally...