When you form a business, especially if you create an LLC or another kind of corporation, your business becomes its own legal entity. As the person who created or manages the business, you have to handle everything on its behalf to remain in legal compliance. That...
Year: 2020
Setting up trusts to pass down assets
Getting your estate plan in order can help you to provide for your loved ones even after you pass away. There are several tools that you have at your disposal to do this. One of these is a trust. There are many different types of trusts, but they’re all categorized as...
What Could Go Wrong During A Real Estate Transaction?
The world of real estate can be confusing and complicated. Your friends and family likely have their own opinions on the process and it can be hard to know who has good information. Making the decision to buy or sell a house or other type of property can’t be taken...
An estate plan protects you during life with a health care proxy
When you think of estate planning, you might imagine making your will or setting up funeral arrangements. That’s not actually all your estate plan can do, though. In fact, your estate plan is a great way to plan for incapacity, not just death. There are any number of...
Consider possible changes when writing an incentive trust
Incentive trusts can be a good way to get your heirs to live in a manner you would approve of. They hinge on the idea that the person has to hit certain goals to get the yearly payouts from the trust; that’s their incentive. For instance, an incentive trust could...
Know when you need to review your estate plan
Many people make the mistake of letting their estate plan sit after creating it. If they’re lucky, its provisions will remain intact until their passing. But this scenario is the exception, rather than the norm. Life happens, and as yours changes, you will want your...
Misconceptions about estate planning
You are sitting in the bar one evening when a friend mentions he has been making his estate plan. You look at him, amazed. “You’ve been what?” you say, “Why would you bother doing that? You sound like my grandad.” Many people mistakenly believe estate planning is not...
How to dissolve your company
Have you ever wondered what the point of going to work is? All that effort you put into your business, all that time and money, for what? Have you ever dreamed of saying, “I quit,” and walking out for good? Unfortunately, if you are a business owner, you do not have...
Undue influence in estate planning
Your dad’s will is announced, and he has left what you assumed would be yours to someone else. There are several grounds on which you can challenge a will. One of these is undue influence, defined as “virtually any act of persuasion that overcomes the free will and...
Protect yourself by preparing for possible incapacitation
It is a topic that no one enjoys considering but becoming incapacitated is a real possibility for Mount Kisco New York, residents. Regardless of your age or your status, it is wise to have a plan in place if a debilitating injury or illness impacts your life. Estate...