You’ve likely heard once or twice that only people with a large estate benefit from making estate plans. This idea is only a myth. Estate planning has a lot of benefits besides distributing assets. For example, parents can make estate plans that name child guardians....
A will may have to face estate taxes, probate and disputes, which might make it more difficult for heirs to inherit the deceased person's property. A trust, by comparison, can avoid estate taxes and help insulate what you want to leave behind to your heirs from...
Leasing a commercial property is generally a smart decision for an entrepreneur or executive running a startup operation. Although buying a property would lead to equity after making payments, owning a property too early in a business's development can be a mistake,...
A limited liability company or LLC is one of the easiest business structures to set up and maintain. As its name suggests, it can also protect your personal assets from business liability if a dispute or other issue arises. Another reason many New York entrepreneurs...
Asking someone to execute your estate is asking a lot of them, far more than many of the favors you may typically ask of friends or family. While your estate can compensate them for their time, it is a relatively small amount given the work involved. Hence, you may be...
Many seniors who want to continue living in their own home but don’t want all the headaches (and back aches) of mowing the lawn, cleaning the gutters and shoveling snow are moving to senior communities. These are often known as 55+ communities because that’s typically...
If you have worked hard your entire life to build a successful business, it is only sensible that you come up with its succession plan. With a solid plan, you can have peace of mind knowing that your legacy will be in safe hands. Fortunately, estate planning offers a...
New property owners may be required to join a homeowners’ association after purchasing a home. The goal of an HOA is, broadly, for homeowners to create a community together and to offer some level of regulation and conformity. For example, an HOA may have standards...
If you live in a Homeowners Association (HOA), then you have agreed to let them set certain rules and restrictions. There could be public areas, such as pools or recreational areas, where the HOA sets up rules and regulations that you have to follow. They may also...
Most parents leave their assets to their children. Whether you intend to do that or not, it is what most people expect, so it is worth discussing things with them either way. Here are some of the advantages of such conversations: They can put in any special requests...
