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It used to be much more common for people to leave the exact same amount of assets to all of their beneficiaries. But there has been a trend in recent years where unequal bequests are becoming more and more common. People are splitting up their assets in ways that...
An incentive trust is a type of trust that can hold assets and only release them to an heir if they meet certain stipulations. The goal is to incentivize that heir to act in some specific way. For example, parents are sometimes worried that adult children will quit...
An estate plan should be a record of what someone wants to do with their property and what support they wish to provide for their dependents when they die or suffer some kind of incapacitating medical event. Unfortunately, some estate plans end up reflecting the...
Parents of adult children sometimes struggle with deciding whether to include their adult children in estate planning conversations or whether they don’t tell them anything. There are benefits to discussing your estate planning with your children, even though it may...
When you’re creating your estate plan, you may decide that you want to pass assets down to your loved ones. Many people want to do this as easily as possible. Trusts are one option that you have when you’re setting up the estate plan. These are classified as either...
Especially when a company has employees, proactive adherence to state and federal business laws is generally crucial for a company's liability mitigation strategy and to its potential for success as a whole. Violations of employment laws might lead to not just...
Benjamin Franklin is credited with saying, “If you fail to plan, you are planning to fail”. That especially holds true for business owners. Unless you have a succession plan in place, you may be setting your company up to fail after you leave. Here is why it is...
Estate planning can sometimes become difficult if you’re not sure how your heirs are going to use your money. For example, some individuals are concerned that an heir who struggles with addiction may simply use all of their inheritance to fund that addiction, and they...
Thinking of acquiring a business? Whether it’s a stock transaction, asset transaction or a merger, acquiring a business may be a great idea if you only do your homework. When you invest or merge with another business, you can benefit from the already established...
If you own significant assets and are looking for a way to shield them from creditors, a domestic asset protection trust (DAPT) could be the solution. Nevada's version of this trust is one of the most debtor-friendly in the country. Also known as a self-settled...
