Obstacles in Business Succession Planning

Often, the path to business succession is not smooth. As a recent article notes, the single best way to ensure that succession planning goes as smoothly as possible is to be proactive. Family businesses should have a succession plan in place long before they anticipate needing it. According to director of the Family Business Alliance,… Read More »

Debts After Death

In order to determine the nature and extent of a deceased person’s estate, it is important to determine the financial position of the deceased. A recent article discusses how to deal with the debt of a loved one after he or she has died. If the decedent had any credit cards, an important consideration is… Read More »

The Pros and Cons of Probate

Every adult should take the time to create an estate plan. A vital part of the estate planning process is considering whether you would like your estate to go through the process of probate. A recent article discusses the pros and cons of probating an estate. One benefit of probate is that, through probate, the… Read More »

Estate Planning When You Have Children With Special Needs

For parents with special needs children, estate planning is especially important. Most special needs children will need a designated person to care for them after their parents have died. A recent article discusses several aspects of estate planning when special needs children are involved. When special needs children are involved, an estate plan should include… Read More »

How to Protect Your Assets

As the most litigious country in the world, the United States boasts one lawyer for every 265 Americans. According to asset protection attorney Hillel Presser, “There are over a hundred million lawsuits every year. One in three people will be sued in the next twelve months.” With the ever-present possibility of a lawsuit, it is… Read More »

Three Common Estate Planning Mistakes

As a recent article points out, one of the best ways to learn is from the mistakes of others. In that vein, the article discusses three common estate planning mistakes: (1) failing to prepare a will; (2) failing to update your will; (3) creating a do-it-yourself will. Failing to Prepare a Will The single biggest… Read More »

Estate Planning Considerations for Stepchildren

As blended families are becoming more common, it is important to remember that stepparents need to add special provisions into their estate plan if they would like their estate to benefit their stepchildren. A recent article discusses estate planning considerations when stepchildren are involved. Under state probate laws, stepchildren and biological children are treated differently…. Read More »

Estate Left to The Stars

A 71-year-old man who died last July has recently made headlines, as it has been revealed that the man’s will left his entire estate to two actors he had never met. Under the will, actors Kevin Brophy and Peter Barton will spit Ray Fulk’s estate, which is valued at an estimated one million dollars. According… Read More »

Two Ways to Reduce Your Probate Estate

Upon a person’s death, his estate enters a process called probate through which their assets are managed, settled, and distributed. If the decedent left a valid will, this process is carried out according to his wishes. However, some people want to avoid probate at all costs. A recent article outlined several ways through which this… Read More »

The Time For Asset Protection Planning is Now

Many business owners fail to consider asset protection planning until the fear of a potential claim against them springs up. Unfortunately for these business owners, asset planning is sometimes insufficient if a claim has already arisen. A recent article in Forbes cautions readers to not only consider asset planning early, but also to recognize when… Read More »