In today’s economic environment, people have become more and more concerned about liabilities, asset protection, and securing their future. Many of our clients are concerned that market conditions could cause them to experience economic or financial turmoil that is not within their control. For example, one of my clients did not seem to have any […]
When a business is owned by more than one individual, the owners never think about the death, disability, or divorce of an owner, or even that another owner might quit. How do you deal with these situations? If an owner dies, becomes disabled or quits, the other owner(s) traditionally do not like the idea […]
Section 1101 of the Bipartisan Budget Act of 2015 changed the rules relating to the federal tax audit of partnerships. The new rules are effective for tax years beginning after December 31, 2017. For purposes of the law, it also applies to LLC’s taxed as partnerships for federal income tax purposes. The new rules replace […]
We know that many of you have children who are 18 years of age and may be away from home in their first year of college so we want to remind you of the importance of a Children’s Healthcare Power of Attorney. Once your child reaches 18, their doctor no longer has the authority to […]
Below is a brief bullet point summary of some issues to consider when planning for your minor children: 1. If you have minor children, the hardest question is who should raise your children in case of death? In other words, who should be named as guardian of your children? 2. In conjunction with item 1 […]
The purpose of forming an entity and setting in place an agreement between parties is to protect your client’s business and family assets. There are many variables and many options available when forming an entity. However, to properly represent your client, it is necessary to fully understand the intentions of the parties involved and to […]