Estate planning might seem straightforward at first glance, but the process can be more complicated than you think depending on your circumstances. Those who are in a blended family need to pay particularly close attention to how they structure their estate plan, as...
Year: 2023
Building a business from scratch: key considerations
Starting a business from the ground up can be both exciting and daunting. Before diving in, you should not forget to weigh in on the various aspects that can impact your success. Here are four essential considerations to keep in mind: Personal liability: Protecting...
Is it possible to avoid the probate process?
The timeline of an estate’s probate administration varies on the circumstances surrounding the estate. Probate can finish as quickly as four months for simple estates, while others may take more than a year due to their complexity. Since probate is a lengthy and...
3 myths about trusts you should stop believing
Trusts are a valuable estate planning tool, especially if you want to minimize the impact of taxes on your estate and intended beneficiaries. However, some people hesitate to take advantage of trusts because of the following misconceptions: It is only for the rich...
3 means of securing funding when starting a new business
There is a lot of work required to establish a functional and profitable business. First, someone has to come up with a business model. Then they need to do market research to find out if there is sufficient demand or too much competition already established on the...
Do small estates undergo probate?
Whichever state you live in, probate can be extensive and complex. It can take months or even years to reach the end of the process. The procedure can be incredibly draining to a decedent’s surviving family members, who are still mourning the loss of their loved one....
How can a trust help reduce estate taxes?
Estate planning can help you and your beneficiaries reduce the impact of hefty estate taxes. These are taxes that the government usually takes upon your death and the distribution of your properties to your beneficiaries. Estate taxes might take a significant portion...
How do you find a reliable attorney during probate?
Seeking legal guidance while grieving may seem overwhelming. Losing a loved one can cause depression and put you in a state of shock, especially if the death of the loved one is sudden. This makes a reliable support system vital. The grief might push you to isolate...
Who should have copies of my living trust?
Initially, only you, your trustee, and your attorney will see your will and trust. Naturally, most people do not want to share copies of their will and trust with their family, as it can lead to conflict. On the other hand, it could help reinforce your intentions...
Do you need to establish a blind trust?
Fusing the words “blind” and “trust” in relation to your assets sounds unsettling, but it actually makes sense in some situations. As the name suggests, a blind trust is a type of living trust when a grantor and their beneficiary are blind about how a third-party...