Providing Creative Solutions For Your Legal Needs
Have you ever considered what will happen to your assets — your house, the contents of your bank account, etc. — after you’ve passed? Many of my clients say they’d like their assets to be split between their children or to see certain funds go to charitable organizations. The only way to guarantee that your assets are distributed as you…
While there are many factors to explore when chosing a guardian, I advise my clients to consider the following: Values and Morals: Does the potential guardian have the same sense of right and wrong that you do? Will that person be able to teach your child those values? Parenting Style: How does the potential guardian handle discipline? Will they be…
Although each situation varies, and there are many factors to consider, you may want to set up a special needs trust to provide for your child. A special needs trust may be a useful tool for a disabled individual who is receiving, or will receive, government benefits. The special needs trust allows money to be set aside for the disabled…
Major problems can arise when a small business owner dies without a plan in place. This is especially true with an LLC (Limited Liability Company) that has more than one owner. This is because in an LLC, each owner – referred to as a member – owns a percentage of the business. Before we dive into why this can present…
Legal custody pertains to your right as a parent to make important life decisions for your children. These decisions can include medical treatment, choice of religion, and choice of schools. Physical custody pertains to your right to have your children physically reside with you. The parent with whom the child is residing with on any particular day makes basic day-to-day…
No. Although child support is supposed to be for the benefit of the children, you do not have to keep the money you receive from your ex in a separate account, nor do you have to account for how the money is spent.
George felt sadness at the passing of his favorite uncle Barney, and he was utterly shocked to learn that Barney had named him in the will to receive a slice of hunting property and a shotgun. While he appreciated the gesture greatly, George wasn’t a hunter like others named in the will and he thought it would be disrespectful to…
Yes. Spousal support is considered taxable income for the payee, and therefore is tax deductible for the payer. Child support, however, is not considered to be income and is therefore not taxed, nor is it tax deductible.
Three years flew by for newlyweds Harry and Sally, and they soon were expecting their second child. When baby Chloe arrived, they were overjoyed that their first born Claire would now have a sister. The coming of the second child ushered in typical changes in the household: a new bed for Claire so Chloe could take the crib, double diaper…
No. Your parents will receive the proceeds of the life insurance and the 401(k). Your will controls the distribution of your probate assets, which are those assets that do not have a designated beneficiary, such as your house. In order to avoid this type of situation, I encourage my clients to review their accounts – such as life insurance and…