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...
You hear the term probate all the time, but what does it mean? It describes the state court process of dealing with someone’s estate after their death. The process includes validating their will and distributing any assets. Probate can have significant consequences for family businesses, particularly in New York and Florida. Without...
When a loved one passes, their assets, wishes, and legacy are managed through a process called probate. The executor stands at the center of this process, taking on a role of significant responsibility and purpose. Acting as an executor can feel challenging at times, yet it’s a position of trust—one that involves...
New York recently passed legislation permitting transfer on death deeds, which are similar to the lady bird deed which has become popular in the State of Florida. While both of these options are inexpensive ways to avoid probate, there are some serious disadvantages to them as well.
Both...
Many people are unaware that if you have a beneficiary on your retirement account, life insurance, or other asset, the beneficiary designation supersedes your will. For example, if your will leaves all your assets to your spouse, but beneficiary designations have your children listed as the primary...
One of the most crucial aspects of estate planning includes minimizing taxes to ensure that the maximum value of your assets passes to your loved ones. An estate planning attorney can help you understand legal strategies that can help you and your family keep estate taxes low.
The one thing we can be certain about in life is that nothing is certain. Changes happen daily, and you must keep up with vital updates so your devices, career, and household run smoothly. However, people rarely think of updating or reviewing their estate plans.
An estate plan...
If you’ve recently lost a loved one, you might be going through the difficult process of wrapping up their affairs—some of which are all too easy to overlook while you're mourning your loss. Unfortunately, this can lead to unnecessary expenses or, for some services, significant financial consequences. With that in mind, here’s...
An important concern of many parents is the risk of leaving money to an adult child and then having the child get divorced from his or her spouse. At least in New York, although many other states have similar laws, inherited property is considered separate property, not marital property when it comes...