Tag Archives: counsel

What You Must Know About Third-Party Supplemental Needs Trusts

If you want to provide for a loved one who is disabled or has special needs when you are no longer here, care must be taken to ensure that the inheritance you leave will help rather than harm your loved one.

An inheritance received outright could negatively impact your loved one if he or she is...
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Business vs. Hobby: Factors the IRS Considers

A hobby is an activity that someone pursues because they enjoy it without any intention of making a profit. A business, on the other hand, is operated to make a profit.

  How can you tell the difference between the two? Here are the factors the IRS considers:  
  • Does the time and effort put into the...
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Why Probate Takes So Long and How to Avoid It

When a loved one dies, their money and property has to be distributed to the appropriate people according to the will, or the state’s laws if a will is not in place.

Even if someone is taking charge of the probate process and keeping up with all the details and requirements, it can still take a...
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What To Do if You’ve Been Named a Legal Guardian

The legal term “guardian” refers to someone who cares for another individual, often a minor child, who needs special protection for a variety of reasons.

Although parents of a minor child can name a legal guardian for their child in their will, typically a court must confirm and officially appoint that person to the status of...
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