Most people recognize the value of doing it, but it’s either so difficult to work into their frame of mind or it’s something that seems so far off that estate planning tends to get skipped over. As a bottom line, most people don’t want to think about dying. It’s a sobering topic, and it’s also [...]
There’s no doubt that it can be a real challenge for business owners to talk about succession planning. For some, it’s because their drive and entrepreneurial vision contributed so much to the success of the enterprise. For others, it’s because they can’t imagine taking a step back from the business. And for others, it has [...]
It’s tax time again, and trustees and executors involved in portfolios with real estate as well as businesses holding property should be aware of the new regulations linked to tangible property. Although these new regulations are complicated, they can be an important tool for reducing 2014 tax liability with the right planning. These tangible property [...]
Even though there are often situations where these two practices blend into one another, talking about estate planning and elder law does not always mean exactly the same thing. One key way to look at what makes these two kinds of practice unique is to consider the critical questions that each aims to answer: What [...]
Even though there are often situations where these two practices blend into one another, talking about estate planning and elder law does not always mean exactly the same thing. One key way to look at what makes these two kinds of practice unique is to consider the critical questions that each aims to answer: What [...]
As a business owner, you should recognize that it’s essential to separate personal creditors from business creditors. While a personal creditor refers to a debt that you personally are responsible for, a business debt refers to creditors trying to come after your “business entity”. Assets put inside the business entity may be vulnerable to business [...]
After returning home from active duty military service, the process of filing for benefits can be exhausting. Beyond the application process itself, knowing which applications to fill out can be hard to decipher. That’s where Morton Law can help. This process is our profession. First, to see if a veteran qualifies for any of the [...]
It’s not uncommon to discover that you have too many assets when you are first trying to qualify for Medicaid. In fact, as an increasing number of adults are helping aging parents, this is actually one of the biggest challenges in terms of preparing for long term care. In order to meet qualification guidelines, the [...]
This is an issue that many of our clients express during their first meetings with us. Parents with wealth are concerned about leaving just enough to their children to allow the children to succeed without leaving too much so that the heirs would become "spoiled". When it comes to setting children up for success [...]
Estate planning is a valuable exercise at just about any stage of life, but an often-overlooked aspect of planning has to do with communicating the results to those impacted in the future. Failing to communicate your plans reduces the chances of having family members with difficult questions or unresolved conflicts down the road. Even families [...]
