Estate planning is essential for anyone who wants to control how their assets will be distributed after they pass away. Estate planning mistakes can be costly. They can result in delays or even prevent your assets from being distributed as you would prefer. Common estate planning mistakes in Florida and New York...
Can You Disinherit Your Spouse
Why would anyone want to disinherit your spouse? Most commonly it is because it is a second marriage and one has children from the first marriage that they want to provide for. It also could be that the spouse has become disabled and leaving him/her your assets would not...
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Can an Estate Be Settled Without Probate in Florida?
When a loved one passes away in Florida, many families wonder if they must go through probate court to settle the estate. Probate is the legal process that validates a will and oversees the distribution of the decedent’s assets. While necessary in many cases, probate can sometimes be time-consuming and costly. However,...
The Need to Name Beneficiaries on Retirement Accounts
Retirement accounts are treated differently than other types of investments, for income tax purposes. In short, if you fail to name a beneficiary on a retirement account, the monies are then taxed all at once, at an estate income tax rate which is higher than the individual rates. Moreover, in order to...
Probate Process Without a Will in Florida
Executing a last will and testament is the best way to protect your family after your passing and ensure that your estate is distributed as you would want. Of course, for one reason or another, not everyone takes this step. The decedent’s estate will still need to undergo a process known as...
How to Avoid a Will Contest
There are some relatively simple steps one can take in order to avoid a litigation with a family member contesting one's will. First, care must be taken to make sure that the will is prepared correctly, and that the execution is proper and in the presence of an attorney. When...
Pros & Cons of Forming an LLC in New York and Florida
Choosing the proper business structure is one of the most critical decisions an entrepreneur can make when forming a business. It impacts everything from personal liability to tax obligations and long-term growth potential. For business owners in New York and Florida, creating a Limited Liability Company (LLC) is a popular choice,...
Some Tips on Choosing Your Trustee, Executor, Health Care Agent and Power of Attorney
When engaging in estate planning, one of the most difficult things to do is designating a person or persons to act in various roles in the event of your disability or death. The various roles require people you trust, but with certain important attributes. Generally speaking you choose a family...
Essential Contracts Every Business Owner Should Understand
Contracts are a key part of business operations and can concern a company’s relationships with its employees, contractors, service providers, and business partners. A business owner should familiarize themselves with the most critical types of contracts their company will likely need.
Employment ContractsBusinesses...
How To Best Provide For Minor Children And Grandchildren
It is quite common for parents and grandparents to want to leave money to a person under the age of eighteen (18) years old (a “minor”). Since a person younger than 18 can not legally inherit money, having a minor as a...
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