The Challenge of Loving Someone with an Addiction Loving someone with an addiction is incredibly challenging. It's especially tough for parents to watch their children, whom they once had high hopes for, struggle with substance abuse. Regardless of the circumstances, relationship, or age, having...
Why Estate Planning Matters Thinking about the future and how our loved ones will fare after we pass away can be challenging. While it's natural to avoid these thoughts, proactively planning and prioritizing your goals can help create an estate plan that ensures your wishes are fulfilled. The fi...
The Importance of a Business Name The first impression your business makes often comes from its name. While your business may operate under a different name than what's on its organizational documents, registering a Doing Business As (DBA) name allows this flexibility. Also known as an assumed n...
Estate Planning Trends and Why It Matters In 2024, less than one-third of Americans report having a will. Every adult—whether 19 or 99—should have at least a will, and many can benefit from additional estate planning documents such as trusts, powers of attorney, and advance directives. However, ...
Moving away from home marks a significant milestone in adulthood. It's an exciting but overwhelming time, with responsibilities like securing housing, buying insurance, signing up for utilities, and managing finances. Amidst these changes, it's crucial to have your legal affairs in order, includi...
Millennials, your contributions to the workforce and positive changes in the world are significant. Your concerns and priorities may differ from those of previous generations, making it crucial to have an estate plan that reflects your unique needs and goals. Here are key steps to ensure your est...
Starting a business in the United States is an exciting endeavor, and with numerous tools available, it's easier than ever to tap into the free enterprise system. However, achieving the American dream of being your own boss and running your own company requires careful planning and practical deci...
Intellectual property (IP) is the driving force behind many of the world's most innovative and successful businesses. IP rights—including patents, copyrights, and trademarks—protect intangible assets and help companies and individuals profit from the fruits of their intellectual labor. In today'...
Business partnerships, like marriages, are complex relationships with highs and lows, challenges and rewards, good times and bad times. When people start businesses together, they should expect to experience growing pains. However, when differences are irreconcilable and threaten to drag the comp...
The rise of home-based businesses represents a fundamental shift in how Americans work. Home businesses offer a convenient and flexible way to earn income without commuting to a traditional office. They may also qualify for tax breaks in the form of home office deductions. Self-employed individua...
Having an estate plan is a great way to ensure you and your loved ones are protected today and in the future. When creating an estate plan, we look at what is going on in your life at that time. But because life is full of changes, it is important to make sure your plan can change to accommodate ...
When a loved one passes away due to another's actions, it often leads to two distinct legal proceedings: a wrongful death lawsuit and probate. Both are civil legal matters but serve different purposes. This post aims to provide a comprehensive understanding of wrongful death and probate, how they...
A shareholder agreement is a crucial contract between the shareholders of a corporation, outlining their rights, responsibilities, and obligations to one another and the corporation. These agreements, also known as stockholder agreements, are optional but highly beneficial, particularly for close...
Running a company involves daily demands that often leave little time for contemplating the future. While strategic agility allows for quick responses to external changes, it's crucial to set baseline goals and establish a roadmap for the next quarter, year, and beyond. Small business owners und...
Introduction to SECURE 2.0 and Its Impact on Saving for Retirement The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 and the subsequent SECURE 2.0 Act of 2022, part of the Consolidated Appropriations Act, 2023, introduced significant reforms aimed at bolstering Ameri...
Understanding Wills vs. Living Trusts in Estate Planning Wills and living trusts are pivotal in estate planning, directing the distribution of assets post-mortem. However, a revocable living trust, often simply termed as a living trust or inter vivos trust, stands out by offering enhanced flexib...
Exploring the Trend of Adult Children Living at Home Today, more young adults are living at home with their parents than at any time since the 1940s. The rise in young adults residing at home is primarily attributed to financial reasons. This demographic shift has sparked various opinions and di...
As a business owner, you've invested years into building your successful enterprise. Now, it's time to plan the next steps, whether that's selling or transitioning your business. Proper estate planning and strategic exit planning are key to maximizing your returns and ensuring a smooth transition...
National Small Business Week—an annual event that honors America's entrepreneurs and small business owners—takes place April 28 through May 4 this year. Commemorated since 1963, National Small Business Week includes an award ceremony and virtual summit presented by the US Small Business Administ...
As poet Robert Burns mused centuries ago, the best-laid plans of mice and men often go awry. Despite thoughtful effort and a concerted strategy, you cannot prepare for every emergency in life. A car accident, sudden illness, workplace injury, or chronic medical condition can force you to reevalua...
Death is a personal and private affair that affects the deceased's close family and friends. However, there is at least one aspect of death that may require state oversight: probate. Probate is the court-supervised process of either (a) carrying out the instructions laid out in the deceased's w...
For many business owners, their business is one of the most valuable and important things they own. When it is time to sit down and create an estate plan, it is critical that business owners plan for their business just as they would plan for their home or finances. Effective business succession ...
Many people believe that estate planning is only about planning for their death. But planning for what happens after you die is only one piece of the estate-planning puzzle. It is just as important to plan for what happens if you become unable to manage your own financial or medical affairs while...
An intrafamily loan is a financial arrangement between family members—one who is lending and another who is borrowing. An intrafamily loan may be used to help a family member who needs money for a number of reasons: ● buying a home ● funding or purchasing shares in a business ● ...
The first private pension plan in the United States was established in the late 1800s. Through 1980, nearly 40 percent of Americans were covered by a traditional employer-funded pension. But employer-provided retirement plans have now largely shifted to retirement savings vehicles like 401(k) pla...