Everyone needs an agent – and not the Hollywood type. An agent is someone you designate to handle your estate after you’ve gone or who can make decisions for you if you cannot make them for yourself. Here are the kinds of agents everyone needs: Executor – an executor is the person you designate to carry…
When you hear the words, “trust fund,” do you conjure up images of stately mansions and party yachts? A trust fund – or trust – is actually a great estate planning tool for many people with a wide range of incomes who want to accomplish a specific purpose with their money. Simply put, a trust…
If you have minor children and have not yet selected a guardian, you are not unlike many parents who put off this critically important task while waiting for the perfect solution to present itself. Or perhaps you and your spouse/partner cannot agree on who would be the ideal guardian for your kids. Here is your…
If you have a few minutes to kill, try doing this: Log onto Expedia.com, Hotels.com, Travelocity, Kayak, Priceline, or any of these related search engines. Search for a 1-night stay in a room on August 20, 2017 in one of the following cities: Madras, Oregon Idaho Falls, Idaho Casper, Wyoming Atchison, Kansas Carbondale, Illinois Gladstone,…
Protect your ideas. Protect your investment. Intellectual Property (IP): a work or invention that is the result of creativity, such as a manuscript or a design, to which one has rights and for which one may apply for a patent, copyright, trademark, etc. While IP has been a concern for many years now, the pace…
The Tax Implications of a Foreign Trust The issue of foreign trusts comes up in estate planning during a number of different situations. For example, if you name a successor trustee who is not a US person, your trust will become a foreign trust. Or, if you want to own US assets but you are…
There is much to be learned from the mistakes of others and the celebrity world abounds with cautionary tales when it comes to estate planning. Even with all the financial resources available to them, celebrities can neglect the basics when it comes to protecting assets. We come across sad tales all the time of “regular”…
Audits can happen to any business. Small businesses are no exception. The IRS can conduct an audit on your business when your tax filing contains questionable deductions, your business is of particular interest to the IRS or by random selection. Contrary to popular belief, being audited doesn’t necessarily mean you did anything wrong. And for…
How to Raise Seed Capital as a Crypto Start-up An Initial Coin Offering (ICO) is the means by which cryptocurrency start-ups raise their seed capital. The process is unregulated and avoids both the scrutiny and accountability demanded by banks and venture capitalists. Backers purchase the new cryptocurrency for cash or Bitcoin at an introductory rate,…
Ready for a tough question? Here it is: which one place on all of Earth symbolizes all of human life? Think hard. I bet you’re not thinking of what I’m thinking. If you had to pick one place that captured all of life’s essence, all of life’s greatest moments, which place would it be?Which one place…
Grow your business through mergers & acquisitions So, why Merge or Acquire? All mergers and acquisitions have a common goal: to create synergy that helps their business values grow and be greater than the two companies working individually. Now synergy takes the form of revenue enhancement and cost savings. By merging or acquiring, you would…
If you are a doctor, lawyer, accountant, or other licensed professional with your own business practice in California, you are certainly aware of the many rules and regulations you must follow to assure the success of your business. However, what you may not be aware of, is that without proper planning, your successful business may…
So, I’ve learned that one of the advantages of having kids is finally being able to rely on them. My first experience with this new phenomenon came yesterday when I came home from work. To my surprise, this is what was sitting on the dining table! Cards. Flowers. Sweets. Handmade offerings. All for my wife on Mother’s…
So, you’ve started a business and you’re starting to get some great traction. Now is the perfect time to start protecting your business name. Why is it important? Your business name is valuable and a lot of purchasing decisions are based on reputations and brand representation. It is important to understand and protect it to…
Planning for the transfer or liquidation of your business when you are ready to retire or when you die is just as important as the planning you did in starting up your small business. Here are some tips from a Creative Business Lawyer™ on how to use estate planning strategies to transfer your business interests:…
It’s hard to believe that people who spend a lifetime working hard to accumulate wealth spend little or no time planning for what will happen to it after they pass, especially if children are in the picture. Yet a recent Consumer Reports survey tells us that 86% of people have not reviewed or updated our estate documents…
Creating an estate plan for your business is just as important as developing one for your personal assets. Part of estate/succession planning for business is planning for the day you eventually retire and hand the reins of the business over to someone else, either through succession, inheritance or sale. Most small business owners want a…
There is simply no reason for anyone to delay in implementing these five estate planning essentials: 1. Will Look around you right now. Everything you see has to be distributed in the event of your death. Your Will names the person you want to handle it all and can also indicate who you want to…
Estate planning rarely comes up in the course of regular conversation and if it does, it is usually involves what has happened to a celebrity’s fortune after his or her death. The distance is safe, so the conversation can take place. But what if you need to discuss estate planning with a loved one –…
If you’re a small business owner, you undoubtedly spend countless hours juggling bills and balancing your books, not to mention all those extra hours you spend worrying about the future of the little business venture that grew and grew during the “good old days” before the recession that slammed small businesses. In fact, you’ve been…
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