If you die without a will, your estate will pass through probate. For the most part, your assets will go to your closest relatives under the intestate succession laws of your state. It’s also important that you know which assets don’t go through your will and are not affected by intestate succession laws mentioned above. […]

The American Bar Association reports that only 30 percent of family businesses successfully pass on to the second generation- were you counting on your loved ones picking up the business baton and running with it? The reality is that there are many challenges faced in the process of trying to figure out business succession. The […]

Unfortunately, the elderly are frequently targeted in fraudulent schemes because the individuals carrying out these scams believe these individuals are more vulnerable and are more likely to have accumulated wealth. What follows are seven of the most recent and common scams targeting elderly individuals.  IRS Phone Scam Recently seniors received phone calls threatening arrest and […]

When you pass away without a will, the court takes over the distribution of your estate. During this process, the court determines the most appropriate way to distribute your assets, but allowing this to happen does present some dangers.  The first challenge has to do with time. Average settlement lengths for probate are between nine […]

Make sure you avoid the most common estate planning mistakes both to give you peace of mind and to increase the chances that your loved ones have minimal challenges when you pass away.  No Estate Plan Too many people avoid putting together a plan at all, which puts their estate at risk of being determined […]

Follow the 8 steps below to increase the chances that your assets are protected. In a time when just one blow to your assets could wipe them out or severely set back your own retirement, it’s simply prudent to plan ahead and guard yourself against major risks.  Select the appropriate business entity, like an LLC […]

By the year 2050, more than 1/5 of the population will be aged 65 or older. Although one of the most common solutions to the challenges of aging is to move an elderly relative to the nursing home, it’s certainly not the only option. There are situations where your loved one may not thrive there, […]

Succession planning is one of the most important steps you can take for your business, but all too often it gets pushed off or glossed over entirely. Taking the time to really consider your options, however, can help to lay the groundwork for a better transition in the future. Procrastinating could lead to a bad […]

Even though a myriad of celebrity stories point out the challenges associated with failing to create a solid estate plan, it seems like taking this action just isn’t on the radar for most people. Even though 61 percent of people aged 55 and older had an estate plan in 1998, that number has dropped to […]

The limited liability company has become the most popular entity for a small business owner to use, and they may also offer some benefits in the form of asset protection planning. Choosing the LLC instead of a corporation structure can be a wise decision, but it raises the question of where the entity should be established. […]