Why shouldn’t I use a form from the internet for my will?
In this computer age, when so many tasks are accomplished via the internet -- including banking, shopping, and important business communications -- it may seem logical to turn to the internet when creating a legal document such as a will . Certainly, there are several websites advertising how easy and inexpensive it is to...
Why shouldn’t I use a form from the internet for my will? Continue reading…What is a 501(c)(3)?
A 501(c)(3) nonprofit is one of a class of 29 different types of tax-exempt, nonprofit organizations under section 501(c) of the tax code. Most charitable organizations that receive donations from individuals in the United States are organized as 501(c)(3) nonprofits. The 501(c)(3) status is the most coveted type of nonprofit status because donations...
What is a 501(c)(3)? Continue reading…Your Wishes in Your Words
During the estate planning process, your attorney will draft a number of legal documents such as a will, trust and power of attorney which will help you accomplish your goals. While these legal documents are required for effective planning, they may not sufficiently convey your thoughts and wishes to your loved ones in your...
Your Wishes in Your Words Continue reading…When Is It OK to Fire an At-Will Employee?
The overwhelming majority of employees are considered to be at-will employees. If an employee works without a contract stating otherwise, that person’s employment is considered at- will for its duration. This means that the person serves at-will and either party may terminate the employment at any time. Even though an explanation is not always...
When Is It OK to Fire an At-Will Employee? Continue reading…Estate Planning for the Chronically Ill
There are certain considerations that should be kept in mind for those with chronic illnesses. Before addressing this issue, there should be some clarification as to the definition of "chronically ill." There are at least two definitions of chronically ill. The first is likely the most common meaning, which is an illness that...
Estate Planning for the Chronically Ill Continue reading…Things to Consider When Picking an Executor
The role of an executor is to effectuate a deceased person’s wishes as declared in a will after he or she has passed on. The executor’s responsibilities include the distribution of assets according to the will, the maintenance of assets until the will is settled, and the paying of estate bills and debts....
Things to Consider When Picking an Executor Continue reading…What Is the Spousal Share of an Estate?
There are many reasons why a person might leave a spouse or another loved one out of his or her will. It is possible that the will in question was executed prior to a marriage and was never properly updated. It may also be the case that the husband and wife, though still technically...
What Is the Spousal Share of an Estate? Continue reading…What is a Surety Bond?
A "surety bond" is a legal tool used to guarantee that a promise will be kept. It ensures that contractual requirements will be met and work will be done according to specifications. If they are not, the bond will cover some or all of the damages that result. The "surety bond" commits three parties to...
What is a Surety Bond? Continue reading…Is There Anyway a Disinherited Child Could Receive an Inheritance From an Estate?
If your estate plan and related documents are properly and carefully drafted, it is highly unlikely that the court will disregard your wishes and award the excluded child an inheritance. As unlikely as it may be, there are certain situations where this child could end up receiving an inheritance depending upon a variety of...
Is There Anyway a Disinherited Child Could Receive an Inheritance From an Estate? Continue reading…Investment Strategies for Minority Investors
As a minority business investor, it is essential to have an investment strategy that will maximize your returns. Once an investment decision is made, it is critical that a target business will enhance value of a broader investment portfolio. At the same time, many minority investors are also business owners who know what makes...
Investment Strategies for Minority Investors Continue reading…Can an Individual be held responsible for his or her deceased loved one’s debts?
When a loved one dies, an already difficult experience can be made much more stressful if that loved one held a significant amount of debt. Fortunately, the law addresses how an individual’s debts can be paid after he or she is deceased. When a person dies, his or her assets are gathered into an estate....
Can an Individual be held responsible for his or her deceased loved one’s debts? Continue reading…Why Should I Incorporate my Small Business?
Not every small business needs to form an LLC in order to function. A child selling lemonade by the side of the road has no use for a Tax ID number. It doesn’t seem practical to set up a new business entity to host a garage sale or a Tupperware party. As a...
Why Should I Incorporate my Small Business? Continue reading…