An estate plan involves distributing property and money after a loved one dies. Though many people are familiar with wills as a means of distributing assets, trusts can be even more effective. A trust is a legal arrangement where a…
Planning an estate involves creating a number of documents that outline an individual’s wishes. During the process, you can name people to make financial decisions on your behalf when you are unable. You can designate beneficiaries for your assets. You…
There are many situations where it makes perfect sense to divide assets equally among children. Yet, in some families, each child receiving the same inheritance can be inappropriate, deplete the estate’s assets due to ensuing litigation, or cause other family…
Structure-wise, a limited liability company (LLC) lies between a partnership and a corporation. Most small business owners are aware this hybrid legal entity is beneficial for financial management, yet an LLC is also a powerful estate planning tool for much…