A business is much more than a great idea: it has numerous moving parts that all have to work together seamlessly. Unfortunately, any one of those parts can mean the partial or total loss of everything you have worked for. By establishing a limited liability company, limited liability partnership, or corporation, you can protect your enterprise no matter how many …
Smart business owners know that it’s not a matter of if they’ll need an attorney, but when. All partnerships and corporations will require a lawyer at some point—and if you don’t have a trusted attorney by your side at the formation of your business, a sudden crisis might send you scrambling for legal help. 5 Hallmarks of a Good Corporate Law Attorney The right …
Ever wonder how an insurance company wastes your money? Here’s a perfect example of a complete waste of resources and money. Travelers Insurance Company responded to a demand letter I sent their client regarding a misleading auto sale. To convey their message, the one-page letter was emailed to me, after which I confirmed receipt1. It was then: Faxed; Sent certified …
Why Young Families Should Do Estate Planning ASAP People often associate estate planning with senior citizens or wealthy couples with significant assets. The truth is that everyone, regardless of age or wealth, needs the financial benefits and protections that estate planning provides. Let’s discuss why young families should do estate planning decades before retirement age, including practical steps you can …
Financial aid is a valuable resource for students and their families. And sending a child off to college is one of life’s biggest (and often most expensive!) events. Unfortunately, certain assets may adversely affect student financial aid eligibility. That’s why careful financial planning is particularly important for families with college-age children. Federal financial aid eligibility is calculated using many variables …
The Entrepreneur’s Guide to Inheriting the Family Business Inheriting a family business can be overwhelming. Even if you knew this day would come, you still don’t feel fully prepared—and business succession is even more complicated if your family members dispute who should be at the helm. While no single resource can prepare you to bear the risks and rewards of …
Decisions about your health care are some of the most important you will ever make. Don’t put off making plans until you are unable to assert your wishes. Including health care documents in your estate plan can ensure your decisions are always your choice, even if you cannot speak for yourself. Health care documents that clearly state your wishes should …
Caring for an aging parent is a common challenge for Baby Boomers, and now even Gen-X’ers and Millennials. And, stepping in to help manage your parents’ finances, without eroding their sense of independence and privacy, can be tricky. Many aging parents are reluctant to ask their children for help with their finances. It means a loss of control, a trading …
Yolofsky Law, P.A. is pleased to announce our feature in the January 31 edition of US News & World Report. The article, written by Geoff Williams, highlights common financial errors that can land you into legal trouble. A few financially-wise tips from AJ Yolofsky: Never mix business and personal expenses, which could leave your personal assets liable and aggravate the IRS. If you loan …
Blended families, unmarried couples, assistive reproductive technology (ART) and same-sex unions and marriages challenge the traditional concept of “family” as it’s been known for legal purposes up until now. Significant changes in the way we define family culturally means more families are left without the valuable protection they need, in the event of a death or incapacity of a loved …
