The first part of a solid estate plan is a will. This document spells out your wishes and explains what you want to happen with your assets when you die. It provides a legal basis for the distribution of your assets during the probate process. If you die without a...
Month: June 2020
Benefits of a third party special needs trust for individuals with a disability
If you are a parent of a child with special needs in New York, you may worry about how they will live once you pass away. For many people in a similar position, setting up a special needs trust as part of the estate plan is the solution. At Marcus, Gould &...
Business structures and tactics to limit personal liability
Once you have a solid idea for a business in place, you need to decide what structure fits your goals for your company. Options include sole proprietorship, partnership, limited liability company or a C or S corporation. Each has its own benefits and drawbacks....
How do you plan on preventing inheritance conflict?
Ultimately, how you decide to distribute your wealth after your passing is up to you. However, this does not necessarily mean that the decisions you make are going to go over well with all of your loved ones. If you are not careful, you run the risk of having your...
Is it difficult to challenge a will?
One of the main reasons why people plan their estates thoroughly is to ensure that there is minimal conflict after they die over assets. Depending on family relationships, will conflicts can be very destructive. Many people want to know what their chances are if...