A Will is a traditional legal document which:
- Names individuals (or charities) who will receive your assets after your death.
- Nominates an executor who will be appointed and supervised by the probate court to manage your estate; pay your debts, expenses and taxes; and distribute your estate according to the instructions in your will.
- Nominates guardians for your minor children.
Most assets in your name alone at your death will be subject to your Will. Some exceptions include securities accounts and bank accounts that have designated beneficiaries, life insurance policies, IRAs and other tax-deferred retirement plans, and some annuities. Such assets would pass directly to the beneficiaries and would not be included in your Will.
Estate planning and business planning often go hand-in-hand. This is because for many individuals and families, a business represents their most valuable asset.
Business Planning services include:
- Company formation
- Choice of business entity
- Structure of business entity
- Purchase or sale of a business
- Ownership issues
- General legal counsel to businesses and individual owners
- Coordination of personal, estate and business plans
- Reorganization and restructuring
- Mergers and acquisitions
- Shareholder control agreements
- Voting agreements
- Buy-sell agreements
- Sales and disposition of businesses
- Succession planning
- Asset protection
Estate planning is often undertaken by individuals; however, to plan your estate well, you should find an experienced estate planning attorney to help you through the process. Aside from drafting a will, estate planning takes a lot of work that is often detail-oriented and time consuming. Hiring an estate planning attorney...
Probate is a court-supervised process for transferring a deceased person's assets to the beneficiaries listed in his or her Will.
Typically, the executor named in your Will would start the process after your death by filing a petition in court and seeking appointment. Your executor ....
Estate planning and business planning often go hand-in-hand. This is because for many individuals and families, a business represents their most valuable asset. ...
Losing a loved one is a traumatic experience. Making important financial and legal decisions while grieving is extremely difficult. Unfortunately, tax planning does not stop at death. The estates and trusts that receive the assets of decedents present their own separate tax issues. ...