Although married same-gender couples are now enjoying nearly all of the same rights as opposite-gender couples, there is still one key right that’s still up in the air—the automatic right to be legal parents. While parental rights are automatically bestowed upon the biological parent, the non-biological spouse/parent still faces a number of challenges when it comes to obtaining full parental rights. Luckily, same-gender couples do have an alternative to adoption—estate planning.
Although same-gender marriage is legally recognized in all 50 states, long-held prejudice at both political and family levels continues to create complications for married and unmarried same-gender couples. With this, especially if you're a member LGBTQ+ community, estate planning is even more critical for you and your beloved to ensure that they will be protected and provided for in the event of your death or incapacity.
It's sad but true that many pets end up in shelters after their owner dies or becomes incapacitated. In fact, the Humane Society estimates that between 100,00 to 500,000 pets are placed in shelters each year for this reason, and many of these animals are ultimately euthanized. In light of this cold reality, if you're a pet owner, the best way to avoid this tragic event is to use estate planning to ensure your pets receive the best care when you're no longer able to care for them yourself.
If you've always dreamed of running your own business but find the thought of building an entire company from scratch too daunting, you might consider investing in a franchise. When you purchase a franchise, you get an already proven business model and brand, which can make the startup phase significantly easier. Also, most franchises come with turnkey operating systems, extensive training programs, and ongoing support from the franchisor. However, no business is without its risks and drawbacks.
If you're like most people, you most likely own numerous digital assets, some of which may have significant monetary value and some which have purely sentimental value. You may also own digital assets which hold no value for anyone other than yourself or have a certain digital property that you'd prefer your family and friends not access or inherit when you pass away. To ensure all your digital assets are passed on according to your wish, you must adapt your estate planning strategies.
Whether it’s with an employee, client, a vendor, or a business partner, going to court to resolve a dispute is something you want to avoid at all costs, since even if you wind up winning your case, getting caught in the court process is time-consuming, expensive, and almost never good for your company’s reputation. To this end, the next time you find yourself in a dispute, you might consider attempting to resolve the matter through alternative dispute resolution (ADR).
Recent advances in digital technology have made many aspects of our lives exponentially easier and more convenient. But at the same time, digital technology has also created some serious complications when it comes to estate planning. Without the proper estate planning, just locating and accessing your digital assets can be a major headache—or even impossible—for your loved ones following your incapacity or death.
Although Britney's story is certainly tragic and we can't be sure how it will ultimately play out, her case has at least shined a spotlight the possible pitfalls within the conservatorship and inspires you to make certain that you and your loved ones have the proper estate planning strategies in place to prevent the loss of autonomy, family conflict, and potential abuse that comes with court-ordered conservatorships and guardianships.
Choosing the person to take over your business after your exit isn't about selecting someone who's exactly like you or even selecting someone you like. The most important thing is that you choose someone who's not only well-qualified for the role but also has the vision and skills to lead your company into the future. With so much riding on your decision, you should be careful to avoid these three common mistakes business owners often make when naming successors.
Since the age of 16, when she burst onto the charts with her debut single, "Hit Me Baby One More Time," Britney Spears has been one of the world's most famous and beloved pop stars. Yet despite her fame and fortune, Britney never had full control over her own life. She's been living under a conservatorship for the past 13 years. With the thought that it was only meant to be temporary, yet, it was made long-term, and her father has remained in nearly full control of her life ever since.