As a parent, one of the motivating factors driving your life's work is to leave your children an inheritance, however, regardless of how much or how little it can be, in some instances, an inheritance can wind up doing your kids more harm than good. To prevent such from happening and to safeguard your hard-earned assets from being wiped out, putting up a Lifetime Asset Protection Trust is a must. Read here to know more.
It is critically important that you understand your Life Insurance Settlement Options, whether you're the policy holder or beneficiary in order to maximize your policy's financial benefit and to reduce potential taxes. It is also important that you choose the settlement option that is best suited for your particular needs. Learn here the importance of each of them.
Naming long-term guardians for your kids is critical and should be your number-one planning priority to ensure they will never end up in the hands of strangers in the event of your incapacity or death.
The new overtime pay rule will take effect on January 1, 2020, so it is critical that as early as now, you figure out how this will impact the budget of your small business and consider which action is best to take. If you are concerned that your business may be impacted by this new overtime rule, consult with us so we can help you ensure that your employees are properly classified as exempt or non-exempt to maintain your compliance with the law when the rule takes effect in January 2020.
Just like any parenting arrangement, platonic parenting requires massive levels of trust, communication, and planning since child-rearing is an immense responsibility that lasts a lifetime. Having an estate plan designed specifically for your family's condition that spells out you and your partner's legal rights, responsibilities, and wishes ensure your new family has a proper legal foundation that keeps them away from court and conflict in the event of your potential incapacity or death.
Collecting and remitting sales tax can be a big task and quite confusing, especially if you oversee multiple aspects of your business. It is critical that you know well your business sales tax nexus and remit your sales tax on time to avoid large fines, or worse, lose the right to do business. Here are several key points for you to keep in mind.
Being left in the hands of unscrupulous guardians appointed by the court can be the most frightening aspect for you in the event of your potential incapacity, given that you may have a loving and caring family members, but are unable to take care of you. To prevent such from happening, it is crucial that you have a comprehensive plan that states all your wishes and consent to ensure that the individual of your choice takes the immediate legal authority to make decisions on your behalf.
Destructive consequences can emerge if your business is structured in a way that could lead to deadlock and your partnership or operating agreement lacks provisions for resolving such an impasse. You must have a partnership or LLC operating agreement designed to prevent this situation from arising. Consult with us to discuss this or any other issues related to the formation of your new business.
Your family's most precious wealth is not money, but the memories you make, the values you instill, and the lessons you hand down. These intangible assets are likely to be lost forever however, these could be preserved and passed on to your loved ones through comprehensive estate planning at definitely no extra cost. As your Family Startup Lawyer™, we can help you customize your estate plan and help you pass on not just your financial wealth, but your most treasured family values as well.
Your decision about whether to lease or purchase a commercial space for your small business will depend upon your unique circumstances. There are pros and cons for each option and whichever option you will choose, we ensure you that we'll provide guidance and that your lease or purchase agreement includes all of the terms needed to protect your business. Read here to determine which option suits you. Consult with an experienced lawyer like us to guide you step by step with the process.