Most estates pass through the probate process before the distribution of assets to heirs occurs. This process can take a long time depending on how large the decedent's estate is, how many heirs or beneficiaries they have and whether someone contests their will. There...
Year: 2021
How long does it take to form an LLC?
Starting a limited liability corporation (LLC) can be a good way to protect yourself when you want to go into business. An LLC protects your personal property from claims made by business anyone who tries to sue your business. One of the most important protections an...
Who pays debts after a person passes away?
Many individuals don't have estate plans in place. The beneficiaries of those who do have a will or trust expect everything to proceed as documented in these estate planning documents once the testator or trust owner passes away. While most probated cases play out as...
What options are available for funding a new business?
Unless you have considerable wealth, you may need to get funding before you may take your idea for a new business to the next level. Startup expenses add up fast and may include anything from professional licensing or permit fees to insurance, website development and...
How do you know if you’ve found the right business partner?
A good business partnership can help you turn a dream into a set of goals, and those goals into a reality. But how do you find your perfect match? Not everyone is lucky enough to have a friend or relative that shares their business dreams. Finding the right business...
How do you handle debts after a loved one passes away?
If your loved one has passed away, one of the things that will need to happen is for all of their debts to be resolved. Claims may be made against the estate by their , and that can be tough to handle. Understanding your role in this process is critical for any...
Is it time to scale-up your small business?
When you started your business on a shoestring budget, it was a one-person show. You eventually branched out and hired a couple of employees, and things have been growing steadily ever since. But is your business expanding like it should? Knowing when it’s time to...
3 reasons to invest in an employee handbook for your company
When you just start your business, you probably improvised many things. You may have paid a few close friends or family members that you could trust to fill multiple roles at the business. Once your hiring extends beyond your immediate inner circle, you have to start...
What to do if your parent died without a will in Pennsylvania?
In Pennsylvania, if someone dies without a will, “intestate succession” laws come into play and his or her assets will go to the closest relatives. If your parent died without ever meeting with a lawyer to execute estate planning documents, you likely feel overwhelmed...
What risks do you incur when you serve as an executor?
Conflict and thankless work are often a part of estate administration. Those who agreed to serve as the executor for an estate may have to deal with arguments or disagreements with a co-executor or trustee as well as disputes with heirs and lots of red tape. The risks...