Once we assess the type of assets you own through our Family Wealth Worksheet questionnaire, we will better understand your specific risk factors and the level of protection you desire.
We assist our clients in determining the appropriate level of asset protection planning for their particular circumstances.
We consider:
If you have a business, it is necessary to review how it is set up. Our Small Business Legal Audit is a key first step.
Customized combinations are layered depending on your needs. There are many different strategies to accomplish the protection of your assets while you are alive and after you are gone.
Contact us at (650) 761-0992 for a Family Wealth Planning Session™ or book an appointment online now to find out which strategies may be right for you.
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In some cases, a sudden inheritance windfall can even wind up doing your kids more harm than good.
Creating a will or a revocable living trust offers some protection for your kid’s inheritance, but in most cases, you’ll be guided to distribute assets through your will or trust to your children at specific ages and stages, such as one-third at age 25, half the balance at 30, and the rest at 35.
If you’ve created an estate plan, check to see if this is how your will or trust leaves assets to your children. If so, you may not have been told about another option that can give your children access, control, and airtight asset protection for whatever assets they inherit from you.
Estate planning is not a one-and-done type of deal—your plan should continuously evolve along with your life circumstances and other changing conditions, such as your assets and the law.
No matter who you are, your life will inevitably change: families change, laws change, assets change, and goals change. In the absence of any major life events, we recommend reviewing your estate plan annually to make sure its terms are up to date.
Additionally, there are several common life events that require you to immediately update your plan—that is, if you want it to actually work and keep your loved ones out of court and out of conflict. With this in mind, if any of the following events occur, contact us, your Personal Family Lawyer® right away to amend your plan.
Also known as “Terms and Conditions” or “Terms of Service,” your Terms of Use function as a legally binding agreement between your business and those who use your website. As such, your Terms of Use protect your company from liability by formally notifying users of the rules of your website and how your website’s content may, and may not, be used by others.
While you should work with us as your Family Business Lawyer™ to help create your Terms of Use, here we’ll discuss the basics of what these agreements should include and why they are so important. Keep in mind that depending on your specific business and whether or not you sell products or services online, your Terms of Use agreement may need to include much more expansive provisions than those covered here.
Of all these decisions, perhaps none is more important or has a more significant impact on your success (or failure) than your choice of business entity structure. The entity you choose for your business will affect everything contracted by your company. Your business entity will determine the amount of taxes you pay, what kind of records you keep, and how vulnerable your assets are to lawsuits.
Among the different business entities, all companies should be one of the following legal structures: a sole proprietorship, partnership, corporation, or limited liability company (LLC). Last week in part one, we discussed the first two of four leading factors to consider when selecting your entity, and here, we cover the final two.
Of all these decisions, perhaps none is more important or has a more significant impact on your success (or failure) than your choice of business entity structure. Indeed, the entity you choose for your business will affect everything from the amount of taxes you pay and what kind of records you are required to keep to how vulnerable your assets are to lawsuits incurred by your company.
Among the different business entities, all companies should be one of the following legal structures: a sole proprietorship, partnership, corporation, or limited liability company (LLC). While you should consult with us, your Family Business Lawyer™ before making your final decision, here are four of the leading factors to consider when selecting the entity that’s best suited for your particular business.