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# Yolofsky Law

South Florida Croporate And State Planning Law Firm

## Sitemaps

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## Posts

- [Blog](https://yolofskylaw.com/blog/) - Read our blog posts on Business Succession, Estate Planning, Corporate Law, Entrepreneurship, Taxes, and other topics to preserve your assets in Florida.
- [Helpful Guide to Serving as Trustee to a Florida Trust](https://yolofskylaw.com/helpful-guide-to-serving-as-trustee-to-a-florida-trust/) - What You Need to Know If You’ve Been Asked to Serve as a Successor Trustee in Florida It may be an honor to serve as a loved one's successor trustee, but it’s also an enormous responsibility. You have a legal duty to oversee and distribute trust assets to the intended beneficiaries—and if you make a
- [Protect Your Family and Legacy with a Florida Estate Planning Attorney](https://yolofskylaw.com/estate-planning-attorney-florida/) - Work with a Florida estate planning attorney who protects your family, assets, and legacy. Yolofsky Law serves clients across South Florida. Schedule a consultation.
- [FL Estate Planning Lawyer for Legacy & Wealth Protection](https://yolofskylaw.com/legacy-planning-for-your-wealth/) - The term “estate planning” can sometimes seem cold and formal, even to an estate planning attorney. As a legal term, “estate” encapsulates everything you acquire throughout the course of your life: homes, property, stocks, wealth, and belongings. But is that really all you are? What about your values, the life lessons you have learned, the
- [High-Net-Worth Asset Protection: Expert Strategies to Safeguard Wealth](https://yolofskylaw.com/high-net-worth-asset-protection/) - A legal guide to high-net-worth for asset protection, covering trusts, entity structures, timing rules, common risks, and integration with estate planning.
- [Land Trust vs. LLC for Asset Protection: Which Structure is Better for You?](https://yolofskylaw.com/land-trust-vs-llc-asset-protection/) - Compare land trust vs. LLC for asset protection. Understand which structure protects real estate best, when to combine them, and what Florida owners need.
- [Asset Protection for Small Business Owners: 7 Strategies](https://yolofskylaw.com/asset-protection-for-small-business-owners/) - Asset protection for small business owners helps shield personal and business assets from lawsuits. Here are seven proven strategies to protect what you built.
- [The Complete Guide to Estate Planning for Blended Families and Heirs](https://yolofskylaw.com/estate-planning-for-blended-families/) - Protect your spouse and children with estate planning strategies built for blended families. Get expert guidance for your unique situation.
- [Estate Planning for Business Owners: Strategies, Risks, and More](https://yolofskylaw.com/estate-planning-for-business-owners/) - Understand how estate planning protects your business, reduces tax risk, and ensures smooth ownership transfer for long-term financial security.
- [How to Avoid Probate in Florida: Expert Strategies to Protect Your Estate](https://yolofskylaw.com/how-to-avoid-probate-in-florida/) - Understand how to avoid probate in Florida with proven legal strategies that protect assets, reduce court costs, and preserve family privacy.
- [How Long Does Probate Take in Florida? Process and Timeline Breakdown](https://yolofskylaw.com/how-long-does-probate-take-in-florida/) - Discover how long probate takes in Florida, key timelines, common delays, and ways to reduce estate settlement time under state law.
- [Don’t Wait! Name a Preneed Guardian for Your Minor Children in Florida](https://yolofskylaw.com/naming-a-preneed-guardian-florida/) - Do I need to name a preneed guardian in Florida? Discover how guardianship works and why parents should add this protection to their estate plan today.
- [6 Estate Planning Documents Vital for Unmarried Couples in Florida](https://yolofskylaw.com/estate-planning-for-unmarried-couples/) - Learn the vital documents unmarried couples need for estate planning in Florida and the steps you can take today to protect your partner.
- [5 LLC Myths Guaranteed to Part Business Owners From Their Profits](https://yolofskylaw.com/llc-myths-business-owners-need-to-know/) - Believing these myths about LLCs and corporations can mean tax penalties, fines, and piercing the corporate veil. Get the facts from a corporate law attorney.
- [6 Mistakes Business Owners Make That Pierce Corporate Veil Protection](https://yolofskylaw.com/how-business-owners-lose-corporate-veil-protection/) - Learn Florida requirements for corporate veil protection, how courts can pierce the veil, and the steps to prevent creditors from seizing your personal assets.
- [6 Famous People Who Died Without a Will (and Whose Heirs Are Still Paying the Price)](https://yolofskylaw.com/famous-people-who-died-without-a-will/) - Learn from six famous figures who died without an estate plan and discover why it’s not just celebrities who need to create a will asap.
- [Why Holiday Gatherings Are the Perfect Time for End-of-Year Estate Planning](https://yolofskylaw.com/end-of-year-estate-planning/) - The holidays present the perfect time for end of year estate planning. Get the most out of family time with your loved ones with our estate planning checklist.
- [Surviving Spouses and Estate Tax Exemption Portability](https://yolofskylaw.com/estate-tax-exemption-surviving-spouse/) - Maximizing the Estate Tax Exemption of a Surviving Spouse For married couples, one of the most powerful estate planning tools is the portability of the federal estate tax exemption. This provision can dramatically lower estate tax liability for the surviving spouse—but only if you notify the IRS you intend to use your deceased spouse’s unused
- [The Entrepreneur's Guide to Buying an Existing Business](https://yolofskylaw.com/buying-an-existing-business-checklist/) - The Entrepreneur's Checklist for Buying an Existing Business What’s the easiest way to have a successful, cash-flowing, profitable business? Truthfully, it’s acquiring it, not starting it up. Buying an existing business can be a shrewd move for an entrepreneur. Instead of starting from scratch, you get a customer base, an established brand, and operational systems
- [Florida Grandparents & Temporary Custody of Grandchildren](https://yolofskylaw.com/temporary-custody-of-grandchildren-2/) - Who Gets Temporary Custody of Your Grandchildren If the Unthinkable Happens? As a grandparent, you focus your efforts on teaching your grandchildren the mischief they haven’t figured out for themselves and making special memories that will be passed onto their grandchildren. All the focus on the positive could let some of us lose sight (or
- [Millennials, Estate Planning, and the Great Wealth Transfer: What You Need to Know](https://yolofskylaw.com/millennials-estate-planning-wealth-transfer/) - Millennials, Estate Planning, and the Great Wealth Transfer: What You Need to Know If you’re a millennial, the phrase “The Great Wealth Transfer” is more than financial news—it’s your future. Over the next 20 years, Baby Boomers will pass down an estimated $84 trillion to their children and grandchildren, with millennials and Gen Z set
- [Can I Use the Florida Homestead Exemption on a Second Home?](https://yolofskylaw.com/florida-homestead-exemption-second-home/) - Can I Protect a Second Home With Florida Homestead Exemption Laws? Florida’s Homestead Law is among the strongest in the country, offering powerful asset protection and tax benefits to homeowners. But if you own more than one property here, you may be wondering: Can a second home qualify for homestead exemption in Florida? The answer
- [Strategies for Exiting a Business: Tips for Owners](https://yolofskylaw.com/strategy-for-exiting-a-business/) - 3-Step Strategy for Exiting a Business (Without Worrying About Your Legacy) Whether you are planning to retire, sell your company, or pass it on to the next generation, a well-thought-out exit strategy is essential for protecting your financial interests and preserving your legacy. Without careful planning, business owners risk losing value, facing unnecessary tax burdens,
- [Florida’s New Fiduciary Law: What the Uniform Fiduciary Income and Principal Act Means for You](https://yolofskylaw.com/florida-fiduciary-law-fipa-guide/) - Florida’s New Fiduciary Law: What the Uniform Fiduciary Income and Principal Act Means for You When it comes to managing trusts and estates, Florida is no stranger to change—and as of January 1, 2025, the rules have officially been rewritten. The Florida Uniform Fiduciary Income and Principal Act (FIPA) is in, and the old laws…
- [Make Your College 529 Plan Rollover Into Roth IRA](https://yolofskylaw.com/529-to-roth-rules/) - Rules for a Successful 529-to-Roth Rollover: Turn College Funds Into Retirement Funds After dropping your child off at school for their final year, you realize there’s still plenty left over in their 529 plan. Well, what now? If you’re considering transferring unused college funds into a retirement account, a tax-advantaged Roth IRA could help you
- [5 Different Types of Business Contracts Explained](https://yolofskylaw.com/different-types-of-business-contracts/) - The Entrepreneur’s Guide to Different Types of Business Contracts The success of a new venture hinges on establishing mutually beneficial relationships with customers, employees, vendors, and peers. Unlike personal relationships, business associations must be carefully defined with different types of business contracts to manage expectations, set boundaries—and provide legal recourse when things go wrong. Here’s
- [Business Continuity and Succession Planning Made Easy](https://yolofskylaw.com/business-continuity-and-succession-planning/) - Mistakes Owners Make During Business Continuity and Succession Planning Business owners pour years of time, energy, and resources into building a successful company. But what happens when you're ready to retire, face an unexpected illness, or want to pass the reins to the next generation? Unfortunately, many business owners delay or mishandle the transition, putting
- [One Big Beautiful Bill Act: A Small Business Owner’s Guide to Tax, Succession & Workforce Strategies](https://yolofskylaw.com/one-big-beautiful-bill-small-business/) - Key Provisions of the OBBBA Every Entrepreneur Should Know As a small business owner, I’ve learned that legislative shifts can either accelerate growth or introduce unexpected challenges. When President Trump signed the One Big Beautiful Bill Act on July 4, 2025, I saw a chance to transform tax changes into strategic advantages for my company—and
- [Estate Planning Under the One Big Beautiful Bill Act](https://yolofskylaw.com/one-big-beautiful-bill-estate-planning/) - Navigating the OBBBA’s Estate Tax and Personal Planning Provisions On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA), reshaping the tax landscape for individual taxpayers and business owners alike. While much of the media spotlight has fallen on business incentives and corporate tax breaks, this legislation contains provisions that demand
- [Easy Asset Protection for Small Business Owners](https://yolofskylaw.com/asset-protection-small-business-owners/) - 5 Ways for Small Business Owners to Protect Their Assets When it comes to protecting what's most important to you and your business, it literally pays to be proactive. Asset protection helps small business owners prevent large-scale losses—both personal and professional—in the event of a lawsuit or bankruptcy. [TABLE OF CONTENTS] Asset Protection Strategies for
- [A Complete Guide to Dynasty Trusts in Florida](https://yolofskylaw.com/dynasty-trusts-in-florida/) - Florida Dynasty Trusts: A Must-Have for High-Net-Worth Planners When it comes to protecting generational wealth, high-net-worth individuals need advanced estate planning tools—and one of the most powerful instruments available today is the Florida dynasty trust. These trusts are designed not just to transfer wealth, but to preserve it down the generations by protecting assets from
- [The Key to NFT: Tax Laws & Capital Gains on Virtual Assets](https://yolofskylaw.com/nft-tax-laws/) - Understand NFT Tax Laws, Inheritance, and Access Before You Invest From floppy disks and hard drives to the cloud, how we store our precious data has significantly changed over the years. Our investments have gotten a similar upgrade, and in some cases, our digital portfolios are far more valuable than our physical estates. If you’re
- [Creating Your Long-Term Strategic Growth Plan](https://yolofskylaw.com/long-term-growth-plan/) - How to Create a Long-Term Growth Plan for Steady Business Success Every business owner dreams of steady, sustainable growth, but achieving it doesn’t happen by accident. Success over the long haul requires more than ambition; it demands a clear, actionable roadmap. Let’s explore how to make a long-term growth plan to answer the big questions,
- [Game (NOT) Over with Digital Investing ](https://yolofskylaw.com/digital-investing-estate-planning/) - 3 Ways to Protect Your NFT Keeping up with technological advances can be a full-time job in itself. It seems that every day there is a new app, cryptocurrency, or a gadget coming to market. Just looking at the way we store our data and documents has significantly changed from using floppy disks to now
- [Ask Your Estate Planning Lawyer About Digital Assets](https://yolofskylaw.com/digital-assets-estate-planning/) - Don’t Forget to Ask Your Estate Planning Attorney About Digital Assets We accumulate so much as we go through life—and nowadays, the vast majority of it is made of thin air. Our bank accounts, our investments, and even our identities exist in a format we can’t hold in our hands. Unfortunately, your friends and family
- [The Importance To You and Your Family of Having an Estate Plan](https://yolofskylaw.com/why-estate-planning-is-important/) - Why Estate Planning Is Important (and Why You Need to Start Now) If you have kids, run a business, or just hate surprises, you know the intolerable wait-and-see feeling when a situation is out of your hands. Yet, many people who suffer frustration and panic when things are beyond their control put off completing one
- [Estate Administrator Duties: What You Need to Know](https://yolofskylaw.com/estate-administrator-duties/) - What I Wish I Knew About Estate Administrator Duties [Ed. Note: Our clients aren’t the only ones with stories to tell. Our families, our staff, and even our business consultants have been grateful for our expertise in times of need. Please enjoy this guest post from Sarah Bacon, our Content Strategist at Baconwood Marketing, about
- [Climate Change Slashes Florida Real Estate Market Values](https://yolofskylaw.com/real-estate-investing-florida-climate-change/) - Climate Change Puts Florida Real Estate Investments at Risk Residential real estate has long been our national go-to investment. And for good reason: the U.S. housing market is valued at $50 trillion, nearly double its GDP. However, a recent study estimates $1.47 trillion in home values could be lost due to climate-related risks—a serious concern
- [5 Ways Your Estate Planning Can Fail](https://yolofskylaw.com/examples-of-estate-planning-fails/) - Examples of Estate Planning Fails (and How to Prevent Them) The DIY estate planning option might seem convenient and cost-effective because you’re “just filling out papers.” However, the devil is in the details—and the details of your family’s future should not be left up to chance. Without proper guidance, your plan might cost them more
- [Five Key Leadership Qualities for Business Authenticity](https://yolofskylaw.com/business-authenticity/) - Business Authenticity: Five Key Leadership Qualities That Show You Walk Your Talk In today’s hyper-connected world, people don't just buy the products you sell. They’re buying how you do it, what you believe, and who you are—and they can spot a fake from a mile away. Whether you're a small local company or an established
- [Private Foundation Rules and Warnings for Business Owners](https://yolofskylaw.com/private-foundation-rules/) - Private Foundations: Rules, Procedures, and Warnings Every Business Owner Should Know Now that you’ve built a successful business, what better way to perform long-term charitable activity than by establishing a foundation? Giving money where and when you want it to go—and letting it grow tax-free in the meantime—it’s a win for everyone. Or, it should
- [The Difference Between Estate, Inheritance, and Gift Taxes](https://yolofskylaw.com/estate-inheritance-and-gift-taxes/) - Estate, Inheritance, and Gift Taxes Can Be Minimized—If You Plan Ahead If you’ve spent your life building a real estate portfolio, you’re probably aware of the realities of paying property taxes in various locations. However, you may not have considered the taxes your heirs could pay on these properties—and not just estate tax. While estate,
- [Online Wills Vs Estate Planning Attorney](https://yolofskylaw.com/wills-online-vs-attorney/) - Creating a Will Online Vs Estate Planning Attorney: An Honest Review You’re ready to plan and protect your family. You might not realize all the benefits that will accrue when put your assets into a trust, or at least with the drafting of a will. But before taking that important step, you must decide: can
- [Preventing Financial Abuse of Vulnerable Adults in Florida](https://yolofskylaw.com/preventing-financial-abuse-of-vulnerable-adults-in-florida/) - Laws and Legal Documents: Preventing Financial Abuse of Vulnerable Adults in Florida Florida is the number one retirement destination in the nation; unfortunately, that makes us a top scammer’s paradise. New legislation has put in place a series of protections preventing financial abuse of vulnerable adults, but there’s a lot more we can do on
- [Covering the High Cost of Care for Elderly Relatives](https://yolofskylaw.com/cost-of-care-for-elderly/) - The High Cost of Care for Elderly Loved Ones As the Baby Boomer generation ages, more Gen-Xers and Millennials will face the challenge of balancing their lives and careers with the competing need to care for aging loved ones. Taking the time to plan for the future now—before your relative needs you—can prepare you for
- [Year End Tax Planning Checklist for Entrepreneurs](https://yolofskylaw.com/creating-your-tax-plan-before-tax-season-2/) - Year End Tax Planning Guide: How to Meet Deadlines and Avoid Penalties You’ve got enough stress in the final weeks of the year without worrying about Tax Day. Unfortunately, some year end tax planning strategies can only be put in place before December 31. So, as hard as it might be, it might be worth
- [Understanding the Updated Homestead Exemption in Florida](https://yolofskylaw.com/updated-homestead-exemption-florida/) - Florida’s New Homestead Exemption: What Homeowners Need to Know About the Updated Law One of the biggest benefits of living in Florida is the Homestead Exemption, which reduces the taxable value of your primary residence. Recent legislative changes have enhanced the Homestead Exemption, further bringing down yearly property taxes for Florida homeowners. [TABLE OF CONTENTS]
- [Florida’s New Laws Protecting Minors on Social Media](https://yolofskylaw.com/laws-protecting-minors-on-social-media/) - Florida Kids Banned from Facebook and TikTok Due to New Laws Protecting Minors on Social Media Lawmakers across the United States have been grappling with the growing concern over the safety of children on the internet. Florida recently became one of a handful of states to pass laws protecting minors on social media, the Online
- [Negative Online Review Leads to $350,000 Recovery in Defamation Action](https://yolofskylaw.com/defamatory-online-reviews-lead-to-legal-consequences/) - Negative Online Review Leads to $350,000 Recovery in Defamation Action Social media has brought many benefits to business. A slew of positive reviews on Yelp!, Google, Amazon, or even on a smaller business’ website will likely lead to increased customer visits and higher sales. However, negative reviews could potentially destroy the viability of a product,
- [Is Your Business Ready for Trump's Tax Plan Changes?](https://yolofskylaw.com/trumps-tax-plan-changes/) - Trump's Tax Plan Changes: Your Business Needs to Be One Step Ahead Donald Trump’s campaign included a range of tax modifications for individuals and businesses, and we’re still waiting to see which ones will make it into law. Many of President Trump's tax plan changes could have a significant impact on corporate tax liability—and depending
- [Step-By-Step Guide to Set Up a Gun Trust in Florida](https://yolofskylaw.com/how-to-set-up-a-gun-trust-in-florida/) - How to Set Up a Gun Trust in Florida A Florida gun trust is a wise choice for anyone who wishes to manage their collection legally and efficiently, particularly if they own Title II firearms, also known as NFA items. While we don’t recommend taking this on without a lawyer, our guide explains the key
- [Spousal Lifetime Access Trusts (SLAT): Pros and Cons](https://yolofskylaw.com/spousal-lifetime-access-trust/) - Understanding Spousal Lifetime Access Trusts A properly-drafted trust can be a powerful estate planning tool, providing care and comfort for loved ones while minimizing taxes for surviving family members. In the case of the Spousal Lifetime Access Trust (SLAT), you could be able to provide your surviving spousepartner with income for the rest of their
- [Should My Florida Estate Plan Include a Gun Trust?](https://yolofskylaw.com/florida-estate-plan-including-a-gun-trust/) - A Florida Gun Trust: The Smart Way to Leave Firearms to Your Heirs Your right to own a gun is essential to you, so naturally, you want your friends and family to continue that legacy after you’re gone. However, many gun owners are unaware of the legal barriers and potential consequences of including firearms in
- [S Corp vs C Corp for Startups: Which Is Better?](https://yolofskylaw.com/s-corp-vs-c-corp-for-startups/) - How to Choose Between S Corp vs C Corp for a Startup When launching a new business, you’re going to make a lot of critical decisions in a short space of time. Unfortunately, rushing through tax questions is one of the most expensive mistakes entrepreneurs make. Let’s explore the pros and cons of S Corp
- [Tax Court Penalties for Family Limited Partnership](https://yolofskylaw.com/family-limited-partnership-avoidance/) - Deathbed Planning and Tax Avoidance Sink Family Limited Partnership in Tax Court Estate planning attorneys often tell clients, “It’s never too early to start planning.” Time offers more options than any other factor, and last-minute planning can lead to costly mistakes. Let’s see why one executor ended up in tax court after claiming a valuation
- [IRS Targets Income Tax Evasion Through Trusts](https://yolofskylaw.com/irs-targets-income-tax-evasion-through-trusts/) - IRS Cracks Down on Income Tax Evasion Through Trusts If something seems too good to be true, it definitely is. Unfortunately, many people still attempt tax evasion through trusts, funneling their money through bogus entities and foreign corporations—and it isn’t pretty when the government catches up with them. The actual truth? Ignoring your wealth planning
- [Who Can Access Social Media Accounts After My Death?](https://yolofskylaw.com/access-social-media-accounts-after-death/) - Legacy Contacts: The Easy Way to Access Social Media Accounts After Death Remember the days when losing your phone meant losing all your photos, phone numbers, notes, and other memories??Well, have you ever thought about what would happen to all the data on your phone if you were to pass away? If your family members
- [How to Make a Kids Protection Plan® for Florida Parents](https://yolofskylaw.com/a-kids-protection-plan-for-florida-parents/) - A Kids Protection Plan® (KPP) makes legal provisions for minor children if something happens to you or your spouse. By adding it to your estate planning documents, you can ensure that the right person will raise your children if you’re suddenly unable to do so. Table of Contents Guardianship Financial Support Inheritance Preservation Benefits of Creating a
- [Benefits of Having Equity in Your Company](https://yolofskylaw.com/benefits-of-having-equity-in-your-company/) - The Many Benefits of Having Equity in the Company Business is slowing down, and you don’t have the resources to shake things up. New talent, more customers, new markets—it all takes cash on hand. How can you use what you’ve got to restart the engines? The answer? Equity. Let’s explore the different types of shares
- [The Digital Estate Planning Checklist](https://yolofskylaw.com/digital-estate-planning-checklist/) - Digital Estate Planning: How to Protect Your Virtual Assets Did you hear about the dog who inherited a million dollars? Well, what about a virtual humanoid block inheriting a million coins? Technically, the block and the money don’t exist, but the coins are still worth over $1,000,000. How’s it possible? Because we’ve expanded beyond buying
- [To Have or to Hold: Estate Planning for Married Couples](https://yolofskylaw.com/to-have-or-to-hold-estate-planning-for-married-couples/) - For better, for worse, for richer, for poorer. These wedding vows are the foundation of most marriages, but they also represent how we as estate planners create strategies for married couples. Each personal situation drives the type of tools used for the estate planning. There is no one size fits all approach and when it
- [We Helped a Terminally Ill Woman Avoid Probate in a Battle Against the State of Florida](https://yolofskylaw.com/we-helped-a-terminally-ill-woman-avoid-probate-in-a-battle-against-the-state-of-florida/) - We never know just how far we will go for someone until we are placed in a tough position. For Angela and Carlos, an estate planning case turned into a battle against the State of Florida—all so they could live out the rest of their lives like any other married couple. In August of 2018,
- [Kickstart the Millennial Estate Planning Process](https://yolofskylaw.com/millennial-estate-planning/) - The One Thing You Can Do TODAY to Start Your Millennial Estate Planning Journey Now that you’re entering middle age, your days are likely packed with the dual responsibilities of caring for your children and aging parents. Unfortunately, this gives you very little time to think about yourself—and making an estate plan might not be Millennial estate planning doesn’t have to be complicated. Discover what you can do right now to start making your last will and testament.
- [How to Make Your Inheritance Last](https://yolofskylaw.com/make-your-inheritance-last/) - Smart Strategies for Financial Security When you think about receiving an inheritance, you likely imagine financial freedom. However, research shows that many people spend their inheritance quickly, often with little to show for it. One study found that a significant number of Americans see no long-term benefit after receiving their inheritance. Baby boomers, in particular,
- [How to Avoid Lifestyle Creep to Grow Your Wealth](https://yolofskylaw.com/how-to-avoid-lifestyle-creep-to-grow-your-wealth/) - Lifestyle Creep: How to Avoid the Biggest Threat to Your First Million What do your bank account, trading account, and retirement account have in common? The numbers are never as high as you thought they were. If you’re making decent money but still find your future funds falling short, there could be a simple solution.
- [The Art of Estate Planning With High Net Worth](https://yolofskylaw.com/the-art-of-estate-planning-with-high-net-worth/) - As the notorious artist warned us, more money always brings more problems. This is particularly true when making an estate plan. After all, who will inherit your wealth, business interests, investments, homes—everything it has taken you a lifetime to build? Here’s your chance to learn the most common pitfalls and how to avoid them straight
- [Estate Planning for College Students](https://yolofskylaw.com/estate-planning-for-college-students-2/) - Secure Their Future Now: ScholarShield As college students embark on an exciting new chapter, it's easy to overlook the importance of estate planning. While it may seem like a concern for older adults, having an estate plan in place is crucial for students as they step into adulthood. Once your child (or grandchild) turns 18,
- [Gen Z Estate Planning Guide](https://yolofskylaw.com/gen-z-estate-plan/) - Gen Z Estate Plans: This Isn’t Your Grandpa’s Will This probably isn’t the first time you’ve been advised to make an estate plan. In fact, most people agree that making a will is extremely important—only to admit they haven’t made one in the next breath. When it comes to walking the walk, one demographic is
- [A Sunny Year for the Sunshine State](https://yolofskylaw.com/read-a-recently-published-article-about-our-global-services/) - We are pleased to announce Yolofsky Law has been featured in the January 2016 edition of Acquisition International. Using the digital publication below, navigate to page 110 to read the full editorial, A Sunny Year in the Sunshine State. For your convenience, the full article text has been provided just below the digital publication https://e.issuu.com/embed.html?identifier=7p9hfob6zztn&embedType=script#0/33171555 Yolofsky Law has
- [College Trust Fund vs 529 Plan: How to Choose](https://yolofskylaw.com/college-trust-fund-vs-529/) - College Trust Fund vs 529 Plan: What Parents Need to Know It’s a privilege to pay for your child’s education, but let’s face it: it’s also a headache. Whether you’re planning to pay the bills as they come in or have been saving since their first birthday, you’ll likely be paying more than just tuition
- [How to Hire Employees for Startups and Small Business](https://yolofskylaw.com/preparing-to-hire-your-first-employee/) - How to Hire Employees for Startups: An Entrepreneur’s Guide Your daily operations are going well—so well, in fact, that you need help delivering on your contracts. Unfortunately, a sudden spike in orders or profits can easily lead to rushed hiring decisions that CEOs later regret. As a small business owner myself, I have a few
- [Family Limited Partnership Vs Trust: How Do I Choose?](https://yolofskylaw.com/family-limited-partnership-vs-trust/) - Family Limited Partnership Vs Trust: Which is Better for Your Assets? Estate planning is a complicated process when you have a family business. Your heirs aren’t ready to take over the reins just yet, but you need to prepare them for the complex roles you perform every day. Fortunately, you have options when it comes
- [Why You Should Make an Estate Plan You Won’t Need for Fifty Years](https://yolofskylaw.com/why-you-should-make-an-estate-plan-you-wont-need-for-fifty-years/) - People often think of estate planning in the same category as a 401K or an AARP membership: something you won’t need until you’re old. Although your estate plan may not be completed for fifty years, that doesn’t mean you should wait to start planning. Like your retirement fund and savings accounts, an estate plan is
- [Entrepreneur Business Plan Questions and Answers](https://yolofskylaw.com/entrepreneur-business-plan-questions-and-answers/) - The Entrepreneur Business Plan: Questions and Answers You may know your business concept inside and out, but taking your idea from notepad scribbles to reality isn’t easy. Many entrepreneurs get so caught up in how to start the process that the business itself never materializes. Fortunately, we’ve made this list of entrepreneur business plan questions
- [Why Young Families Should Do Estate Planning Now](https://yolofskylaw.com/why-young-families-should-do-estate-planning/) - 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,
- [Paying Expenses After Death of a Loved One](https://yolofskylaw.com/paying-expenses-after-death-of-a-loved-one/) - A Guide to Paying Final Expenses After the Death of a Family Member Paying expenses after death can place significant financial stress on grieving families. Without prepaid funeral services or payable-on-death funds, your personal representative might have to dip into their own savings to cover the costs—at least until probate clears. Unfortunately, many family members
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- [How to Pass Down the Family Business to a New Generation](https://yolofskylaw.com/how-to-pass-down-the-family-business/) - The continuity of a family business, with its rich history and deeply ingrained traditions, is a testament to the dedication and hard work of those who came before. In an ever-changing market where trends come and go, the ability to pass down a successful family business to the next generation is a remarkable achievement. But
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- [How to Renew Your LLC in Florida: Tips to Help You File Your Annual Report](https://yolofskylaw.com/renew-llc-florida-file-annual-report/) - Find out how to renew your Florida LLC, the requirements for filing your business annual report, and why you must meet the yearly April 30 filing deadline.
- [Words of Warning: Estate Planning and Exit Strategy for Business Owners](https://yolofskylaw.com/estate-planning-exit-strategy-for-business-owners/) - A Florida corporate attorney explores business succession and exit strategy for business owners during the estate planning process.
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- [Lady Bird Deed vs Quit Claim Deeds: How to Pass on Real Estate in Florida](https://yolofskylaw.com/lady-bird-deed-vs-quit-claim-deed-in-florida/) - Discover different ways to share ownership of a property in Florida and how to transfer your home to a beneficiary using a lady bird deed vs quit claim deed.
- [From Boom to Zoom: Benefits of Estate Planning at Different Ages](https://yolofskylaw.com/estate-planning-at-different-ages/) - Learn the benefits of estate planning at different ages, from young adulthood to your golden years. Let us help your legacy thrive with each passing decade.
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- [Income Tax for Beginners: How to File Taxes for the First Time](https://yolofskylaw.com/how-to-file-taxes-beginner/) - Filing taxes for the first time? Learn how to file taxes as a beginner, including gathering documents, calculating income, taking deductions, and more.
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- [Florida Estate Planning Checklist in 10 Easy Steps](https://yolofskylaw.com/florida-estate-planning-checklist/) - Florida Estate Planning Checklist: 10 Ways to Get Your Affairs in Order Estate planning is vital to ensuring your property is distributed according to your wishes after passing away. Each state has specific considerations and laws that come into play when crafting an effective estate plan. Our Florida estate planning checklist aims to guide you
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- [Augusta Rule Violation Lands S-Corp in Trouble with IRS](https://yolofskylaw.com/augusta-rule/) - Tax advice from social media influencers can have some BAD outcomes. For a few months now, we’ve seen people who are neither attorneys nor accountants recommending that business owners start renting out their homes to take advantage of the Augusta Rule. Sounds great, right? Who doesn’t love tax-free income? As you might guess – details
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- [Persons Prohibited from Possessing Firearms in Florida](https://yolofskylaw.com/prohibited-from-possessing-firearms-in-florida/) - Is the Trustee of Your Florida Firearms Trust a Prohibited Person? Florida gun trusts offer a simple and private way to transfer your Title II firearms to new owners. However, you must choose carefully when appointing someone to act as trustee to your revocable living trust. Your trustee must not only be a responsible party; they
- [Best Ways to Pay for a Child’s College Fees in Florida](https://yolofskylaw.com/how-to-pay-for-a-childs-college-fees-in-florida/) - If you have created your Will or Trust as part of your estate plan, you’ve already taken a big step toward the financial well-being of your family members. However, you could go further by planning for specific future expenditures, such as paying for your children (or grandchildren) to get the best possible education. While you could
- [5 Estate Planning Tools for Small Business Owners](https://yolofskylaw.com/5-estate-planning-tools-for-small-business-owners/) - If you’re a small business owner, estate planning might be the last thing on your mind. The day-to-day running of the company is likely filled with payroll concerns, marketing metrics, and attracting the right kind of talent to boost your growth. Unfortunately, many small business owners who put off estate planning don’t realize that they’re
- [5 Ways AI Tools Can Transform Your Startup or Small Business](https://yolofskylaw.com/ai-tools-for-your-business/) - Whether you welcome new technology, fear our new robot overlords, or don’t know what to think about AI integration, there’s no denying that 2023 is fast becoming the year of artificial intelligence. The rise of programs like Grammarly© and ChatGPT© using natural language processing to provide nearly-human responses is taking the world by storm. As a
- [Estate Planning for College Students: 4 Documents Your Child Needs to Sign Now](https://yolofskylaw.com/estate-planning-for-college-students/) - Is estate planning for college students necessary? See which documents your child must sign before going off to school, university, or travel far from home.
- [Tips for Travelers Making an Estate Plan Before Vacation](https://yolofskylaw.com/making-an-estate-plan-before-vacation/) - Travelers: Complete Our Estate Planning Checklist (Actually Relax on Vacation) Travel broadens the mind, but it carries its share of stress. Whether you’re a frequent flier or going on a long-overdue vacation, you’ve likely got a million things on your to-do list before your departure. While it might seem less important than packing enough sunscreen
- [Entity Crisis: The Reason You Need to Separate Yourself from Your Business](https://yolofskylaw.com/separate-yourself-from-your-business/) - Your business wouldn’t exist without you, but that doesn’t mean you and your business are one and the same. For you to maximize the benefits of owning your own company, it’s essential that you maintain two distinct entities: your business, and you as its employee. Thinking of your business in this way has many advantages.
- [Death of a CEO: What Happens to Your Business If Something Happens to YOU?](https://yolofskylaw.com/business-succession-planning/) - Owning your own business can be deeply satisfying, but it also takes a toll on your time and energy. You don’t have a “day off” anymore; you’re constantly building and growing your company for the benefit of your loved ones. In many ways, you ARE the business—the company’s day-to-day operations wouldn’t be the same without
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- [Invest In Yourself](https://yolofskylaw.com/invest-in-yourself/) - What is the best investment you have ever made? It could have been stock options in a company, an NFT, an investment property, or a collectible item. As entrepreneurs, we think the most valuable investment you could make is to invest in yourself. The return on your investment (ROI) of yourself will help you to enjoy
- [5 Ways to Increase Your Cash Flow](https://yolofskylaw.com/5-ways-to-increase-cash-flow/) - Monopoly©. One of the best ways to learn about starting a new business is through this board game. This life-like game not only teaches how to strategize but when to buy or when to sell as well as educates some of the fundamentals of your cash flow. Is it better to own one of Park
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- [How to Choose the Right Business Entity Structure](https://yolofskylaw.com/how-to-choose-the-right-business-entity/) - Do you remember as a kid having a lemonade stand? It seemed so simple to sell lemonade. All that you needed was a sign, customers, and lemonade, right? As a kid, you didn’t think about how the customers were going to hear about your business (marketing), where you are going to get money to make
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- [Game (NOT) Over with Digital Investing (Part II)](https://yolofskylaw.com/digital-investing-estate-planning-part-two/) - 3 Ways to Protect Your NFT 2. How did you purchase your NFT? Since we are talking about cryptocurrencies, how you purchased your NFT is important. Regardless, if you bought it with cryptocurrency or cash, the government wants to ensure that you are properly taxed. Remember that death and taxes are the two unavoidable things in life. Also,
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- [3 Simple Rules for Forming Your New Business](https://yolofskylaw.com/3-simple-rules-for-forming-your-new-business/) - Business formation is more than just registering your name; it’s also planning for every eventuality to make your business work for you. Despite the importance of creating an LLC or other entity for a new company, many owners opt to download form documents from the internet, assuming these will provide all the protection they need.
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- [Attorney Fees: One More Reason Why Our Services Are Worth the Money](https://yolofskylaw.com/attorney-fees-one-more-reason-why-our-services-are-worth-the-money/) - Death could always be around the corner. The death of a loved one that takes everyone by surprise should not also cause a financial surprise to the loved one’s estate. Unfortunately, too many people are unaware of the potential costs and fees associated with the probate of an estate or administration of a trust.When an
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- [How to Include a New Child or Grandchild in Your Estate Plan](https://yolofskylaw.com/review-your-estate-plan-after-a-new-child-is-born-in-florida/) - The arrival of a new family member can make you feel like anything is possible. As you enjoy the precious moments, months, or years of taking care of a child, it’s easy to forget that they may not get the same care after you’re gone. Unfortunately, many children are in this position, suffering unintentional disinheritance
- [Thinking About Small Business Bankruptcy? Consider These Factors First](https://yolofskylaw.com/thinking-about-small-business-bankruptcy-yolofsky-law/) - Although often perceived as a worst case scenario, bankruptcy can be an appropriate way for small businesses to recover from unmanageable debt by reorganization, reducing personal liability or liquidating business assets. Sometimes small businesses (or their owners) must turn to bankruptcy when cash flow slows or business expenses cannot be met. There are three types
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- [Thinking Past Step 1: Other Policy Changes to Improve School Security](https://yolofskylaw.com/thinking-past-step-1-other-policy-changes-to-improve-school-security/) - Slightly over a week ago, horror struck home. Marjory Stoneman Douglas High School in Parkland, Florida is a short few miles away from my home and office. The suspect, identified as 19-year-old Nikolas Cruz, opened fire with a semi-automatic rifle at his former high school. Cruz admitted to the massacre with 17 dead and as
- [4 Ways to Draft All Your Contracts](https://yolofskylaw.com/4-ways-to-draft-all-your-contracts/) - “We just signed a major deal!” “I just put in a contract on a house!” “Click here to accept our terms and continue . . .” These phrases all have in common that a contract has just been made. Contracts are the cornerstone of business dealings. In some places, contracts are still made on handshakes
- [Estate Planning Essentials for Parents](https://yolofskylaw.com/estate-planning-essentials-naming-a-legal-guardian-yolofsky-law/) - A comprehensive estate plan can protect the things that matter most. For many, this means their property and their family. Including provisions for the care of your children in your estate plan is essential for peace of mind. But many parents struggle with including such provisions as naming a legal guardian for their child in their plan.
- [Transaction Tips for Equine Sales and Lease Agreements: Winter Horse Show Series](https://yolofskylaw.com/transaction-tips-for-equine-sales-and-lease-agreements-winter-horse-show-series/) - We’re excited to announce the addition of Erin Prutow, Esq. to the Yolofsky Law family. Erin focuses her practice on equine law. She has extensive experience in the horse industry and is ready to help owners, trainers, buyers, and support personnel. Erin was a national level equestrian competitor at her alma mater, Oklahoma State University.
- [Florida’s Remote Online Notarization and Bill](https://yolofskylaw.com/florida-s-remote-online-notarization-and-bill/) - Digital signatures, facial ID, thumbprints, crypto-keys, and two-factor identification are all methods of verifying identity. It sometimes seems that an ink signature, in the 21st century, is something quaint and nostalgic. Perhaps we’ll reach a point when we’ve moved beyond written verifications. Florida is the latest state to adopt an electronic notary statute. Will it improve
- [How to Break Up with Your Business Partner Without Ruining Your Livelihood](https://yolofskylaw.com/what-to-do-before-ending-a-business-partnership-in-florida-2/) - Nobody likes to consider a breakup at the start of a new relationship. Like romantic relationships, business relationships can (and do) end—and failing to plan for the worst can lead to much more than a broken heart. A fallout with a business partner can mean the loss of all of your clients, your staff, or your
- [Returning to where it all began... Illinois College of Law](https://yolofskylaw.com/returning-to-where-it-all-began-illinois-college-of-law/) - The days are long, but the years fly by. This seems to be the new conventional wisdom for describing the perception of time. It didn’t seem as if 15 years had passed since I left the hallowed halls of the University of Illinois College of Law, but it certainly had been. Last week, I returned
- [Announcing . . . Our New Look!](https://yolofskylaw.com/announcing-our-new-look/) - Announcing . . . Our New Look! We’re thrilled to unveil our refreshed brand identity! Over the last year, we have poured everything into creating a new image that would accurately depict who we are, at our core as a team. There are plenty of adages about change. One of our favorites at the Firm
- [The Basics of Estate Planning: Creating a Plan as Unique as You Are](https://yolofskylaw.com/guide-to-family-wealth-preservation-planning-in-florida/) - What is it about estate planning that puts us off? It takes the average person several years between considering their estate plan and actually creating the documents needed to pass their property and wealth down to their heirs. Whether you are just beginning to create your will or have boilerplate documents on file, we can show you
- [What to Consider as You Purchase Investment Property](https://yolofskylaw.com/purchasing-investment-property-in-florida-the-right-way/) - Real estate investments can be highly rewarding as well as a good way to generate passive income, particularly for owners of rental properties. The ability to give others a place to live instills a certain pride in the investment, creating a mutually beneficial relationship as well as a diverse portfolio. That said, owning apartment buildings
- [Estate Planning After Marriage Equality: What All Couples Should Know](https://yolofskylaw.com/estate-planning-after-marriage-equality-what-all-couples-should-know/) - In the wake of the Supreme Court’s 2015 landmark ruling in Obergefell v. Hodges, same-sex couples nationwide are finally enjoying marriage equality. Whether you are legally married in the eyes of the law, or not, there are important additional legal planning steps you need to take to ensure your wishes are honored in the event of your
- [What Your Florida Estate Planning Attorney Should Do for You](https://yolofskylaw.com/how-to-choose-the-right-estate-planning-attorney-in-fl/) - There are many different kinds of estate planning attorneys, but most fall into one of two categories. The first is someone who will prepare your documents, rubber-stamp your plan to ensure it stands up in court, and may even offer to administer the estate after your passing. The second is a person who does all
- [The Basics of Trust Administration in Florida: How to Fulfill Your Duties as Trustee](https://yolofskylaw.com/guide-to-trust-administration-in-florida/) - Every estate plan has legal requirements and formalities for distributing property to heirs. If the plan is based on a Last Will and Testament, the executor is responsible for paying the estate’s debts and passing on assets to beneficiaries. However, if the estate plan includes a trust, the successor trustee immediately assumes control of all trust
- [What All Spouses Need to Know About Updating an Estate Plan After Divorce](https://yolofskylaw.com/how-divorce-affects-your-estate-plan-options-in-florida/) - If you are going through a divorce, you may be overwhelmed by the number of life-changing decisions you must make before you can move on. Unfortunately, the day-to-day decisions often push the estate planning consequences of separation further down the road, causing havoc if a former spouse suffers incapacity or death. Whether you have already created
- [How to Fund Your Living Trust and Be a Hero to Your Family](https://yolofskylaw.com/the-importance-of-properly-funding-a-trust-in-fl/) - Congratulations! You have created a living trust to avoid probate and ensure that your heirs will have instant access to their inheritances. However, your job is not done yet—and without taking the next step, you may as well toss your trust documents straight into the recycling bin. The Basics of Funding a Living Trust in Florida Funding
- [Estate Plan Decisions Should Not Be Based on Who Is in the White House](https://yolofskylaw.com/factors-that-could-affect-your-florida-estate-plan-in-2020-2/) - On the eve of one of the most contentious elections in U.S. history, it’s no surprise that Florida residents are uneasy about the next resident of the White House. However, it is worth noting that the occupant of the Oval Office has little effect on how your assets will be distributed to your heirs after
- [Creative Ways Parents May Be Able to Protect Family Wealth for Their Kids](https://yolofskylaw.com/asset-protection-methods-to-benefit-your-florida-estate-plan/) - When you have kids, your whole world changes. You’re not just living for yourself anymore; everything you do is for the family you created, raised, and will ultimately leave behind. Whether you are enjoying hard-earned financial success or have a modest amount in savings, there is always more you can do to increase the value
- [Why a Living Trust Should Be Part of Your Florida Estate Plan](https://yolofskylaw.com/the-role-of-living-trusts-in-a-florida-estate-plan/) - If you have already created a Last Will and Testament, you have avoided one of the biggest estate planning mistakes people often make. While your will is extremely helpful in expressing your wishes to your heirs, there is a chance that you could save a lot of time, money, and frustration in the future by basing your
- [How to Prevent Your Kids From Blowing Their Inheritances When They Turn 18](https://yolofskylaw.com/common-trust-fund-mistakes-in-florida-estate-plans/) - If you have already begun the estate planning process, you know how important it is to choose the right agents to be in control of your assets and healthcare decisions. Unfortunately, you may not have the same faith when it comes to your children—especially if minor children have shown signs of poor money management. Even if the assets
- [They Grow Up Fast: Making an Estate Plan for a Child Who Is Coming of Age](https://yolofskylaw.com/estate-planning-for-children-turning-18-in-florida/) - Parents feel many conflicting emotions on their children’s 18th birthdays. The young people you raised will be moving on—out of the house, on to college, or even raising children of their own. As they navigate young adulthood, your children will still need your advice and assistance—but without certain documents, you may not legally be able
- [A Will Isn’t the Way: Vital Documents All Floridians Should Have in Their Estate Plans](https://yolofskylaw.com/documents-you-must-include-in-an-estate-plan-in-florida/) - If you have begun creating your estate plan, you may feel as if a weight has been lifted from your shoulders. Many people who have been avoiding making a will find that completing the task gives them great peace of mind. However, what you may not realize is that a will isn’t the end of your
- [Where Are We With Safe Sport Regulations?](https://yolofskylaw.com/where-are-we-with-safe-sport-regulations/) - The horrible sexual abuse that young athletes endured have resulted in new regulations that seek to prevent such tragedies from happening. It seems there had been cultures of silence, or at least confused quiet, in the USA Gymnastics, USA Swimming, and the US Olympic Committee. As part of the response, Congress mandated that the U.S.
- [Estate Planning For Equestrians: Creating a Plan for Horse Owners](https://yolofskylaw.com/estate-planning-for-equestrians-creating-a-plan-for-horse-owners/) - Many people consider a prized possession to be jewelry passed down from previous generations, a collectible automobile, or fine art that decorates their home. For some people, their most prized possession is their four-legged companion and riding partner, their horse. We never want to face the inevitable question of what will happen to our possessions
- [7 Events That Trigger a Review of Your Estate Plan](https://yolofskylaw.com/7-events-that-trigger-a-review-of-your-estate-plan/) - How long is my estate plan good for? This is one of the most frequently asked questions if you’ve already created an estate plan. From one point of view, your plan is good until you either revoke or decide to change it. A different point of view treats your estate plan as a living document
- [Commit to your Estate Plan Before Your Spring Break Trip](https://yolofskylaw.com/commit-to-your-estate-plan-before-your-spring-break-trip/) - With March right around the corner, the most common question I get from my kids is “What are we doing for spring break?” This is one of the most popular questions being asked here in South Florida, not only by all school kids but by their busy parents who are in dire need of a
- [Power of Attorney – Too Much Power or Not Enough?](https://yolofskylaw.com/power-of-attorney-too-much-power-or-not-enough/) - The more things change the more they stay the same. Not long ago, we wrote about several celebrities who died without an estate plan. As we’ve seen, the media sensationalizes celebrities who have failed to plan for their death. Recently, the world grieved as Aretha Franklin, the Queen of Soul, lost her battle with pancreatic
- [The Canary Keeps Singing](https://yolofskylaw.com/the-canary-keeps-swinging/) - The sudden deaths of the iconic fashion designer, Kate Spade, and of the celebrity chef and world storyteller, Anthony Bourdain, have become a sobering reminder that tomorrow is never promised. While the deaths of Ms. Spade and Mr. Bourdain resulted from them succumbing to internal demons, other possibilities of tragedy also exist. Regardless of the
- [If Estate Planning Were a House: The Key Differences Between Wills and Trusts](https://yolofskylaw.com/if-estate-planning-were-a-house-the-key-differences-between-wills-and-trusts/) - These two terms are often confused and used somewhat interchangeably. But, wills and trusts are two very different things. When talking about planning for the future, many people just think of a will. Developing a plan requires thinking about more than just what happens when you die. Understanding the important differences between these tools will
- [Protecting Your Most Valuable Asset: Your Children](https://yolofskylaw.com/protecting-your-most-valuable-asset-your-children-yolofsky-law-p-a/) - After traveling around the world and meeting people from all walks of life, I noticed there is a prominent common denominator for all those with children – as parents we do almost everything we can for our kids. Picture this… Every morning you wake up at the crack of dawn, get breakfast going, and wake
- [Mistake Avoidance 101: Failing to Fund your Trust](https://yolofskylaw.com/mistake-avoidance-101-failing-to-fund-your-trust-yolofsky-law-p-a/) - And now, a short story that is more truth than fiction, you became a hero to your family when you created an estate plan. You took home a binder full of signed documents, put it in a safe place and forgot about it. Weeks, maybe months later, you vaguely remember that your lawyer mentioned something
- [Estate Planning for Parents with Children on the Spectrum](https://yolofskylaw.com/estate-planning-for-parents-with-children-on-the-spectrum-yolofsky-law-p-a/) - Planning for the future of your children Parenting involves much planning. The simplicity of making your own plan, or one for you and your spouse or significant other, disappears when kids come into picture. Parents quickly realize that their role is more of logistician for the children than anything else. Indeed, when my children were
- [How Legal Planning Helps Build a Strong Blended Family](https://yolofskylaw.com/how-legal-planning-helps-build-a-strong-blended-family-yolofsky-law-p-a/) - In our house, we always refer to ourselves as a modern family. We joke that the post office must get confused because we have three last names in the house. No, we have not taken in renters. We are a blended family. When I married my lovely wife, I was immediately blessed with step-fatherhood because
- [The Real Cost of Caring for Aging Loved Ones](https://yolofskylaw.com/make-a-plan-to-care-for-elderly-parents-before-they-need-it/) - What if you woke up one day and twelve years had passed? While you might wonder how you grew a waist-length beard or hair, a significant part of your life disappeared. How did this happen? Last you knew, you were on track for a promising career, you were exercising (periodically), and were planning all sorts
- [Leaving Without a Plan: Prince Didn’t Leave a Will – Here’s Why You Should](https://yolofskylaw.com/the-importance-of-leaving-a-will-and-estate-plan-yolofsky-law/) - Even after death, celebrities are highly publicized for their mistakes, many of which we make ourselves. This time last year, superstar musician Prince died suddenly, leaving no will, and the management of his substantial estate fraught with legal complications and added costs. It’s easy to assume that the wealthiest among us have all their ducks
- [Planning for the Care of Your Pet: How to Include Your Pet in Your Estate Plan](https://yolofskylaw.com/include-wishes-for-beloved-pets-in-your-estate-plan/) - If your pet is beloved as a family member, you likely want to ensure that he or she will be well cared for in the event of your incapacity or death. Without explicitly stated wishes, these furry family members could end up without a home of their own, if you die or become unable to
- [(Re)Defining Family: Estate Planning for the Modern Family](https://yolofskylaw.com/re-defining-family-estate-planning-for-the-modern-family-yolofsky-law/) - 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
- [Yolofsky Law Featured on US News & World Report](https://yolofskylaw.com/yolofsky-law-featured-on-us-news-amp-world-report-yolofsky-law-blog/) - 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
- [Does Your Parent Need Help with Finances? Start Here](https://yolofskylaw.com/does-your-parent-need-help-with-finances-start-here-yolofsky-law/) - 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
- [Three Health Care Documents You Need to Include in Your Estate Plan](https://yolofskylaw.com/estate-plans-should-include-these-health-care-documents/) - 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
- [How These Common Assets Can Affect Your Financial Aid Eligibility](https://yolofskylaw.com/how-these-common-assets-can-affect-your-financial-aid-eligibility/) - 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
- [Insurance Companies Are Wasting Your Money](https://yolofskylaw.com/insurance-companies-are-wasting-your-money/) - 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
- [What to Look for in a Florida Corporate Law Attorney](https://yolofskylaw.com/how-to-choose-the-right-corporate-law-attorney-in-fl/) - 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
- [Myths and Misconceptions About Creating a Business Entity in Florida](https://yolofskylaw.com/common-myths-about-business-entity-formation-in-florida/) - 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
- [How to Create a Solid Operating Agreement for Your Business](https://yolofskylaw.com/your-fl-business-should-have-an-operating-agreement/) - Your startup is up and running, but you have a million things to do before you can truly get off the ground. Considering the time and effort needed when working for yourself, it's easy to overlook the creation of an official operating agreement—especially when the State of Florida doesn't require it for all business entities. Unfortunately, overlooking
- [What is Succession Planning for Entrepreneurs?](https://yolofskylaw.com/what-is-succession-planning-for-entrepreneurs/) - The Second Habit of Highly Successful People is to begin with the end in mind.[1] Almost weekly, entrepreneurs, business owners, and professionals talk with us about the goals for their business or practice. Few discuss their expected exit from the business. Practically none of them have thought about what would happen if they couldn’t go into
- [The Importance of Building Company Culture in Your Business](https://yolofskylaw.com/importance-of-company-culture-for-a-successful-fl-business/) - How to Leverage Company Culture to Build a Successful Brand As companies in Silicon Valley promote their high-tech offices with flex space, bean bags, and unlimited coffee around the clock, many people see these benefits as culture. But culture goes way deeper than free snacks and a standing desk. “In a nutshell, culture is the
- [5 Steps You Need to Take to Plan a Smooth Business Succession](https://yolofskylaw.com/5-steps-you-need-to-take-to-plan-a-smooth-business-succession/) - 5 Steps to Business Succession Planning We frequently ask “what’s next?” Other times we phrase it as - “and then what?” These are helpful questions to ask yourself about the future, for yourself, your family and your business. You’ve read countless times about the potential horrors that occur when a person dies or becomes incapacitated
- [Core Four: 4 Vital Legal Agreements All Startups Should Have in Place](https://yolofskylaw.com/4-vital-legal-agreements-all-startups-should-have-in-place/) - “Brilliance at the basics.” I could have fully funded three years worth of a retirement plan by depositing a nickel each time I heard a Marine Corps leader (from corporals to colonels) say that phrase. The concept seems simple enough. If someone can accomplish the elementary tasks correctly and consistently, then they will achieve. Martial
- [Writing Off Start-Up Costs](https://yolofskylaw.com/writing-off-start-up-costs-yolofsky-law-p-a/) - In South Florida, startups are booming. The Kauffman Foundation ranked the Miami-Fort Lauderdale area #1 for startups out of 40 metro areas across the country. For some people, starting their new business is as simple as registering a domain name and building out a website. For other entrepreneurs, there are greater expenses incurred to establish the company’s
- [Windfall Profits: What Might Be Your Fair Share of the Tax Cuts and Jobs Act of 2017](https://yolofskylaw.com/windfall-profits-what-might-be-your-fair-share-of-the-tax-cuts-and-jobs-act-of-2017-yolofsky-law/) - “In this world, nothing can be said to be certain, except death & taxes.” – Benjamin Franklin “The only difference between death & taxes is that death doesn’t get worse every time congress meets.” – Will Rogers In 2018, Mr. Rogers might need to do a double-take after the passage of the Tax Cuts and
- [Culture: The Oft-Overlooked Factor for Succeeding in International Business](https://yolofskylaw.com/culture-the-oft-overlooked-factor-for-succeeding-in-international-business-yolofsky-law-p-a/) - What if a magic formula existed to immediately and successfully connect you with international businesses? What if you knew a secret about how to get your business proposal favorably presented to the key decision-maker? Well, there is a method to do exactly these things, but you will have to invest your time learning your target’s
- [Tragedy in Paris, Part III: San Bernardino, & Enemy Preparedness](https://yolofskylaw.com/tragedy-in-paris-part-iii-san-bernardino-enemy-preparedness/) - “So in war, the way is to avoid what is strong and to strike at what is weak.” Sun Tzu As the massacre in Paris fades from the headlines, terrorists are determined to keep their cause at the forefront of western civilization. In San Bernardino, California a married couple came to disability services Center, opened
- [Tragedy in Paris, Part II: Taking Legal Action](https://yolofskylaw.com/tragedy-in-paris-part-ii-taking-legal-action/) - Letters of Marque & Reprisal Over the past ten days, the response to the Paris massacre has been swift and deadly. AA, Daesh’s team leader, was killed in a shootout with police. The day after the attacks in Paris, French President Hollande authorized a series of airstrikes against Daesh positions in Syria. Russian President Putin
- [2019 Wealth Counsel Symposium Recap!](https://yolofskylaw.com/2019-wealth-counsel-symposium-recap/) - This past week I had the pleasure of attending Wealth Counsel's Symposium in Boston, Massachusetts. This annual conference brings together some of the best minds in the estate planning and business law field from around the country. This year's conference featured some of the top experts in their fields. It was a fantastic experience and,
- [3 Things You Need to Stop Doing Now For a Successful New Year](https://yolofskylaw.com/3-things-you-need-to-stop-doing-now-for-a-successful-new-year/) - New Year’s Resolutions. They sound great and can even be inspirational, but they have a tendency to willow away before January is half over. Many people shift their focus to their resolutions in the attempt to accomplish everything at once. There’s almost a suspects list of New Year’s resolutions – lose weight, grow our business,
- [Tragedy in Paris: Lessons & Courses of Action](https://yolofskylaw.com/tragedy-in-paris-lessons-courses-of-action/) - Primer on National Power Bataclan Theater, Stade France, Le Petit Cambodge, Avenue de la République, Charonne, and Beaumarchais – these are the six locations that Islamic terrorists, under the banner of ISIL (or “Daesh”)[1] brutally murdered more than 100 people and injured hundreds more. The after effects of this attack will continue to reverberate throughout
- [The Top 5 Pitfalls to Avoid in Estate Planning and How to Avoid Them](https://yolofskylaw.com/the-top-5-pitfalls-to-avoid-in-estate-planning-and-how-to-avoid-them/) - As a parent of school age kids, keeping track of everyone’s schedules and to-do lists could be a full-time job. Besides lists, there are planners, and random sticky notes of tasks because yellow notes are a higher priority (right?) Get the kids to school, go grocery shopping, and… and…there’s something else on the list and
- [Ten Common Money Pits Even Brilliant Entrepreneurs Fall Into](https://yolofskylaw.com/ten-common-money-pits-even-brilliant-entrepreneurs-fall-into-yolofsky-law-p-a/) - If you’re relying on your top line to grow your wealth, you could be missing out on easy opportunities to save money and improve profits, independent of your revenue. Florida continues its economic growth through 2017. More and more entrepreneurs are setting up shop in the Sunshine State. Many of these new business owners are
- [Brand or Bust: Why Branding Is Essential to the Longevity of Your Business](https://yolofskylaw.com/developing-a-consistent-and-meaningful-brand/) - A strong, identifiable brand is an invaluable asset to any company. Businesses can reap major rewards by building a brand image that accurately reflects the strength of the company. And in today’s business world, branding is necessary for businesses looking for longevity and growth. So, what do small businesses need to know about branding in
- [Why Startups Need Lawyers, Not Legal Templates](https://yolofskylaw.com/why-startups-need-lawyers-not-legal-templates-yolofsky-law/) - When growth and funding are top priorities, it is wise to not let legal soundness fall to the wayside. Not surprisingly, 1 in 10 startups fails due to overlooked legal issues. Without a lawyer looking out for your best interests, it’s easy to miss common legal mishaps that pose a threat to any startup. Mistake
- [How to Achieve Sustainable Business Growth](https://yolofskylaw.com/options-for-sustainable-growth-of-your-new-business/) - You’ve put in the time to get your business off the ground and now you’re up and running. You have a product or service that’s selling well, team support to keep everyone happy, and a proven income model. Congratulations! You’ve overcome the biggest obstacle to business sustainability. Surviving the startup phase is often the toughest
- [Opening a New Location? Follow These 3 Steps First](https://yolofskylaw.com/3-steps-toward-opening-a-new-business-location-yolofsky-law/) - Opening a new business location is an exciting venture. It also comes with inherent risks. A new site can increase profits and brand exposure, but it also opens up possibilities for failure. Rushing into expansion and opening a new location can do more harm than good if proper preparations are not made. Increase your chances
- [Reducing Risk: 3 Business Agreements to Decrease Your Liability Risk](https://yolofskylaw.com/reducing-risk-3-business-agreements-to-decrease-your-liability-risk-yolofsky-law/) - Those new to the business world often lack the first-hand experience of initiating and building healthy business relationships. But protecting these vital relationships with carefully crafted business agreements—such as those for co-owners, suppliers and clients—is essential to growing a new business without risk of being taken advantage of or of burning valuable bridges. To decrease
- [Business Conflict: Tips for Settling Business Disputes, Part 2](https://yolofskylaw.com/business-conflict-tips-for-settling-business-disputes-part-ii-yolofsky-law/) - In part 1, we discussed the importance of knowing how to negotiate business deals and mitigate conflict whenever possible. Besides being a financial drain, business disputes can also create conflicts that require precious time and energy to resolve. Setting clear boundaries and realistic expectations when making professional agreements is essential in setting yourself up for
- [Business Conflict: Tips for Settling Business Disputes, Part I](https://yolofskylaw.com/business-conflict-tips-for-settling-business-disputes-part-i-yolofsky-law/) - A large part of being a successful company owner is knowing how to make deals and mitigate business conflict when it arises. When in a dispute over a deal or an agreement that has been made, the potential costs are endless. The potential cost of litigation, the potential cost of loss of reputation, the potential
- [The Surprising Secret to Keeping Good Records in Your Small Business](https://yolofskylaw.com/hire-a-bookkeeper-to-manage-your-business-records/) - Keeping good business records relieves stress and makes running your company easier and more enjoyable. But it may not look like what you think if you’ve run your business by saving receipts all year long and then trying to handle your bookkeeping all at once at tax time. First and foremost, don’t handle your bookkeeping yourself.
- [Spring Cleaning for Your Legal and Financial Affairs](https://yolofskylaw.com/how-to-spring-clean-your-legal-and-financial-affairs-yolofsky-law/) - Spring has officially sprung and that means it’s spring cleaning time. Shake out the rugs, clean out the cupboards, and get your legal and financial affairs in order. For plenty of folks, it’s easy to know what to do when it comes to home organization, but the idea of legal and financial ordering can be
- [Avoid These 5 Common Startup Legal Mistakes](https://yolofskylaw.com/5-common-startup-legal-mistakes-to-avoid-yolofsky-law/) - It seems that everywhere you look, a new startup is trying to make it big with a game-changing idea. But, it’s only the ones that can turn that idea into reality that reach business success. Too many startups fail to make the transition from idea to execution or encounter major setbacks along the way. In
- [Avvo Legal Guide: The 4 Pillars of a Solid Business Foundation](https://yolofskylaw.com/avvo-legal-guide-the-4-pillars-of-a-solid-business-foundation-yolofsky-law/) - This excerpt, courtesy of A.J. Yolofsky, Family Business Laywer®, was originally published on Avvo. The guide can be read in full here. This guide will give you information about the four pillars upon which every business foundation is based. Ignoring your business’ foundation means you are essentially flying by the seat of your pants not knowing
- [Is Your Small Business Being Audited? Stay Calm and Read On](https://yolofskylaw.com/a-comprehensive-guide-to-small-business-audits-yolofsky-law/) - Audits can happen to any business. Small businesses are no exception. The IRS can conduct an audit on your business when your tax filing contains questionable deductions, your business is of particular interest to the IRS or by random selection. Contrary to popular belief, being audited doesn’t necessarily mean you did anything wrong. And for
- [How Your Legal and Financial Decisions Can Impact Your Marketing for the Better (or the Worse) In the Eyes of Your Prospective Customers and Clients](https://yolofskylaw.com/how-small-business-marketing-legal-and-financial-decisions-mix-yolofsky-law2/) - Running a small business often means you play a jack-of-all-trades. Whether it’s drafting client contracts or taking inventory, it’s likely you have a hand in all aspects of your business. Marketing is no exception. And knowing how to create an efficient small business marketing plan can be difficult, especially when you might not be sure
- [Doing Your Homework: How to Maximize Your Home Office Deduction](https://yolofskylaw.com/how-to-maximize-your-home-office-deduction-yolofsky-law/) - If you work from home, you may be eligible for tax deductions on part of the rent or mortgage payments you make, but you may be afraid this puts you at risk of a tax audit. And, rightly so. Calculating your home office deduction properly can minimize your taxes and keep you out of risk. The
- [Is Your Payment and Agreement Process Losing You Money?](https://yolofskylaw.com/is-your-payment-and-agreement-process-losing-you-money-yolofsky-law/) - If you get paid for a service, collecting payment is the lifeblood of your company. And, yet, if you are like most people, you’ve made it an afterthought. Indeed, few companies and individuals have given deep consideration to how their clients and customers interpret and understand the agreement presented. For example, I recently got a
- [Four Takeaways from Super Bowl L](https://yolofskylaw.com/four-takeaways-from-super-bowl-l-yolofsky-law-p-a/) - The Broncos and the Panthers played a historic Super Bowl, not only because of the milestone number, but also because of the many small things that occurred during and after the game. It may very well have been Peyton Manning’s sendoff. The game itself surprised many because the real question beforehand was if Denver’s vaunted
- [Setting and Achieving Goals in the New Year](https://yolofskylaw.com/making-change-to-achieve-the-goal-of-growing-your-business/) - As each new year rolls around, countless people make personal and professional resolutions for themselves. People resolve to build their businesses so that better success could be achieved by the next December. Unless the processes to obtain those goals have been modified, the truth is that at the end of this year will likely look a lot
- [Understanding the Difference Between Employees vs. Independent Contractors](https://yolofskylaw.com/difference-between-employees-vs-independent-contractors/) - Reduce Liability by Properly Classifying Independent Contractors Throughout the Art of War, Master Tzu often instructs that the leader must depend on the quality of the army in order to wage war. In business, the CEO must create a team that will execute the business’ tasks on the path to success. An old adage of
- [Choosing the Battlefield – Part I](https://yolofskylaw.com/choosing-the-battlefield-part-i/) - Where to hold a legal event? The other day in court, I observed two lawyers arguing about where mediation should take place. The first lawyer, from a prestigious Florida law firm, argued that the mediation should not occur at the plaintiff’s office because the facilities there were not comfortable enough; therefore, it should be held
- [Tom Brady, #Deflategate, and Lessons in Evidence](https://yolofskylaw.com/tom-brady-deflategate-and-lessons-in-evidence/) - Recently, the sports world was abuzz with the findings of the Wells Report that Tom Brady was more likely than not to have had knowledge of the fact that official game balls were deflated to a point under the NFL’s minimum pressure. Brady emphatically denied knowing or participating in any type of cheating. Based on
- [The Dixie Win](https://yolofskylaw.com/griffin-v-dixie-business-dispute-resolution-case-result/) - Justice can sometimes move at a pace of major city rush hour traffic. However, courts do arrive at the correct decision when they are given a chance to apply the law. In April of 2015, Florida’s Fourth District Court of Appeal released its decision in the case of Griffin Industries, Inc. v. Dixie Southland Corp. I was
- [The Framework of a Deal](https://yolofskylaw.com/the-framework-of-a-deal/) - Donald Trump published a book many years ago titled “The Art of the Deal.” Dozens of articles are published every year about negotiating a better deal. This past week, the United States announced that a framework of a deal to restrict Iran’s ability to obtain nuclear weapons. However, the details still need to get worked
- [Upgrading Your Estate Plan Now That Your Kids Are Off to College](https://yolofskylaw.com/estate-plan-changes-for-parents-of-college-bound-children/) - Sending your kids off to college is a bittersweet experience. Some parents are reluctant to let their children out into the real world, constantly worrying about their health and safety. Others are eager to remodel the child's bedroom or take the couple's vacations they never could when their kids were young. No matter how you
- [How Joe Biden’s Tax Proposals Could Affect Your Estate Plan](https://yolofskylaw.com/2020-election-tax-proposals-and-your-fl-estate-plan/) - Every election year brings the potential for change, with new laws and proposals in the works before candidates even take office. This election is no different, and the proposed changes in the law are especially worrying for Florida residents with high net worth. Joe Biden’s tax plan proposes raising rates and lowering exemptions from the
- [US Supreme Court decides 8-1 to Uphold Revocation-On-Divorce Provision](https://yolofskylaw.com/ssfsdf/) - These days, when the US Supreme Court decides a matter 8-1[1], it should be “breaking news!” That the case also involves estate planning matters means that you should know about it as soon as possible. So as not to keep you in suspense, here’s what is important. For life insurance policies that a married couple
- [The patch work needed on the intricate quilt that is Marriage Equality](https://yolofskylaw.com/the-patch-work-needed-on-the-intricate-quilt-that-is-marriage-equality/) - Independence Day was a fun and food-filled reminder of how wonderful a country the United States is. The American experiment with a republican form (not party) of government that is based on equality before the law has resulted in a more advanced and egalitarian society than history has ever seen. No American or immigrant has
- [Spring Cleaning for your Legal and Financial Affairs](https://yolofskylaw.com/spring-cleaning-for-your-legal-and-financial-affairs/) - Spring is in full swing and summer is right around the corner! This means that it is spring cleaning time and summer slim down! Shake out the rugs, clean out the cupboards, and donate those clothes that might not be fashionable anymore. This is also an excellent opportunity to get your legal and financial affairs
- [Tips for Developing Business Emergency Plans](https://yolofskylaw.com/tips-for-developing-business-emergency-plans/) - Friday nights are typically spent winding down the week by trying to organize the chaos of corralling small children. A bit to my surprise, my wife remarked, “there are police cars in front of the house, what’s going on?” True enough, when I looked out the window there were actually 4 police cars in the
- [Maneuver Litigation: A Marines’ Approach to Dispute Resolution](https://yolofskylaw.com/maneuver-litigation-a-marines-approach-to-dispute-resolution/) - From the courtroom to the boardroom, our goal at Yolofsky Law is to help clients achieve their goals quickly and efficiently. Trust, technology, and communication are the key fundamentals that enable our firm to successfully maneuver clients through legal disputes. Starting with the end in mind. Before a strategy for dispute resolution can be formed, we must
- [Dispute Resolution](https://yolofskylaw.com/dispute-resolution-yolofsky-law-p-a/) - Dispute resolution is a term used to describe how problems are fixed or corrected. In order to best advise clients, we take the time to understand the nature of the problem the client is facing. We learn more by listening to the client than by giving recommendations. The conversation next turns to what the client

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