A family office provides management services to a family whose businesses and wealth have become too complex and significant to manage by themselves. It often combines investment, legal, and tax services along with lifestyle and administrative services, such as making travel arrangements or coordinating the use of the family’s private aircraft. In addition to supporting and […]
The short answer to the title question is yes, your trust can own your business after you die. The longer legal answer is there are a number of considerations that may impact your trust’s ability to own a business after your death. One such consideration is the type of business interest you own. Is the business […]
According to the National Association of Home Builders, in 2018 there were approximately 7.5 million second homes, making up 5.5 percent of the total number of homes.[1] These pieces of vacation property are not only real estate that must be planned for, managed, and maintained, they are also the birthplace of happy memories for you and […]
A spouse’s death creates a difficult and demanding time for the surviving partner. As much as you might want space and time alone to process your grief, you may have certain responsibilities related to settling their affairs, including paying off spouse’s debts. Most Americans have some type of debt. The obligation to pay debts does not […]
The divorce process can be long and expensive. Getting the final decree is the end of one big effort, which probably felt exhausting. Yet, the work doesn’t end once the divorce decree is signed. Once you have gotten divorced, it’s prudent to update your estate plan. More Work After Divorce? Why Bother? A divorce has a […]
A resume is a snapshot of your experience, skill set, and education that provides prospective employers insight into who you are and how you will perform. Imagine not updating your resume for five, ten, or even fifteen years. Would it accurately reflect your professional abilities? Would it do what you want it to do? Probably not. […]
Although the word “inheritance” usually conjures up images of property or accounts with significant monetary value, you can leave your family an even longer-lasting inheritance by doing these seven things, even if you don’t have a lot of money. Make a Plan Often, people who do not have a lot of money think that it is […]
As parents age and their physical and mental capacities diminish, it is natural for their adult children (recognizing the parents’ decreasing ability to care for themselves) to step in and help them. Often, a specific child will take over the bulk of the responsibilities, such as taking the parent to doctor’s appointments or the attorney’s office. […]
There’s really only one thing you can be certain about in this world, that things change. If your life or the law has changed since you signed your will or trust agreement, you need to update your estate plan. You can make updates to a revocable living trust by way of an amendment or a complete […]
For the past couple of years, one thing that people may not be doing is traveling by airplane. Yet, many of us are still enrolled in miles programs with various airlines. If you’re a frequent airline traveler, one of your estate planning concerns may be what will happen to your accumulated miles once you’re gone. They could […]
