When you started your company it was typical for the next generation to wait in line for taking over the family business. Now day's things are different. Adult children have more career options and small businesses have more resources for succession.
Making a will is one of those things in life that's easy to put off. You either think you're too young to have a will or the very idea of thinking about your eventual death and its repercussions is too much to take. As hard as it might be, having a will is one of the most vital things you can do for your family and for yourself.
What Are the Different Types of Business Entities?
Whether the proverbial ink has just dried on your divorce decree or you have been divorced long enough to already enter into a subsequent marriage, you should read this. After the turmoil of a divorce, one of the last things on your mind is probably the impact that it will have on your estate plan, but, you must understand what will happen if you don't review and redraft those vital documents.
Colorado law establishes avenues for people to direct their medical care should they become incapacitated and unable to do so. A recent study raises the issue of how important it is for a person to include in their advance directives instructions that are specifically tailored to that person's needs, wishes and medical conditions.
Wills are an essential part of any estate plan. The will is a document that allows the grantor to pass on his or her earnings and assets over his or her lifetime to family members, loved ones and other beneficiaries. Without one, a person's estate goes through the traditional probate process as set by default rules and laws. This can lead to their last wishes not being fulfilled, or tax problems that could have been addressed otherwise.