For decades now, people have made the claim that most family businesses will not last through the third generation. This shows how challenging it can be to do business succession planning and pass a company down through the family line. By the time the grandchildren...
People who are creating their estate plan sometimes want to support a charity of their choice. One option they have for doing this is to establish a charitable trust that makes it possible to make a posthumous donation. Anyone who wants to establish a charitable trust...
Many people mistakenly believe their work is complete upon finalizing their estate planning documents. However, estate planning is not a one-time task you forget about once done. It’s equally crucial to update your estate plan to ensure that it’s aligned with your...
Legal disputes can arise in various ways. When a dispute is legal in nature, people often think that the only option is to fight it out in court. Nonetheless, that isn’t the case. While the courts can be useful and necessary at times, litigation isn’t the best way to...
Many business owners assume that their children will want to take over the business. This may have been their dream from the very beginning. They’ve been building the company up so that they can give this valuable asset to the next generation and set their family up...
Disputing a will can be a complex legal process, particularly when a challenge is based on claims of undue influence. This concept arises when someone is believed to have manipulated or pressured a vulnerable individual into altering their will to unfairly benefit the...
If you’ve had an in-home caregiver helping you out in recent years, they may have become almost like family to you – maybe even closer than some family members. Understandably, you might want to include them as a beneficiary in your will. You have every right to do...
Nobody likes paying taxes. While most can agree that they’re necessary for the overall good of the public, they can also agree that they wouldn’t mind paying a little less. Fortunately, multiple estate planning tools can help you minimize your tax bill. Preserve more...
When it comes to business succession planning, business owners sometimes assume that they need to equally divide up ownership. For instance, you may be a business owner with four adult children. The business is one of the most expensive assets that you own, so you’re...
A will is a legal document that is crucial for estate planning. With a will, a testator can designate who should benefit from the distribution of assets. Unfortunately, many people die without a will. This can make it difficult to settle an estate and distribute...