The terms living trusts and revocable trusts are often used interchangeably, but the terms have distinct characteristics and purposes. Understanding the differences between the two terms can help you make informed decisions in your estate planning. Living Trust: A living trust is a broad term th...
A trust, a powerful financial tool, serves a multitude of purposes, making it an invaluable component of estate planning and wealth management strategies. At its core, a trust is a legal arrangement where one party, the trustee, holds assets for the benefit of another party, the beneficiary. Here...
Flying solo in life doesn't mean you're exempt from planning for the future. In fact, being single underscores the importance of having a living trust in place. A living trust isn't just for the wealthy; it's a smart move for anyone who wants control and peace of mind over their assets. For a si...
When a deal is struck casually over dinner, or at a family gathering, it's easy to accept someone's word. Feeling the excitement of success will quickly fade, however, as the other person's memory of exactly what was agreed to may be different from yours. Although some verbal or “handshake” deals...
When people consider estate planning, they're normally thinking about a will. Although a will can be an integral part of an estate plan, it's not the only document that can protect your family and assets. In fact, there are many estate planning tools that you can use to protect you and your loved...
Even if your business does not make its money in the creative space, you should be aware of copyrights and the protections offered for this type of intellectual property. According to federal law, copyrighted work is any original, creative work that has been affixed in a tangible medium. Your fav...
Divorce is a difficult and emotional time in many people's lives. For some, it was a bitter and heartbreaking experience that still influences the choices they make today. For others, it was a sad but inevitable end to a relationship that wasn't meant to last. Ending things amicably is the most b...
The relationship between landlords and tenants has historically been a contentious one, however, this can easily be avoided if both parties are educated on their own rights and responsibilities. Whether you're a landlord who needs assistance drafting an air-tight lease or a tenant looking for a w...
Starting a business is an exciting prospect and building legitimacy for potential clients, customers, and investors is an essential part of the process. If you're on the fence about whether to start your business as a sole proprietorship or a limited liability company (LLC) there are some importa...
New year, new plan! The new year is a big marker for change. Creating resolutions, forgiving conflict, or reminiscing on all of your yearly accomplishments. A lot can happen in a year, and you have probably experienced a lot of changes. As the owner of an estate plan, the beginning of the year is...
One of the most popular estate planning documents is the revocable living trust. A trust designated as revocable may be changed, added on to, or revoked while the grantor is alive and not incapacitated. A living trust is one that takes effect as soon as the grantor creates it. Just creating a re...
Starting your business is an exciting time in your life. However, before you can get the ball rolling, you need to determine what type of business you should start. There are multiple business entities you can choose from, each with their own advantages and disadvantages. With help from a small ...
When you are preparing your estate plans, figuring out what is in the best interest of yourself and your family is of utmost importance. You may be considering your options further. For example, it is common for people to wonder whether they should implement a will or execute a trust. There are ...
Information is instantaneously available, due to the rise of the internet. Additionally, many services that were not available in the past, including do-it-yourself (DIY) legal forms, now exist. As a result, it is tempting to think that the forms provided by these DIY services can be a low-cost s...