Plain-spoken answers to the questions families ask us. These articles are educational material, not legal advice, and shouldn’t be relied on as legal counsel.
Many of our clients have family businesses that have been in their families for generations. Although they work hard to cause the business to flourish, one thought is not commonly discussed: a proper business succession plan.
It is officially back-to-school season, and soon you will be sending your high school senior on their way to college. In this midst of all the dorm room essential shopping, many forget that their “baby” is technically no longer a child in the eyes of law.
Some parents include their kids in every vacation. Some plan their vacations sans les enfants. But every parent, at one time or another, has to leave their children under another person’s (hopefully) watchful eye. Perhaps it is something unexpected: a death in the family or an international business trip.
Suppose you have children in your life who are very important to you: your own, or a grandchild, niece, nephew, godchild – even the children of friends. And perhaps you would like these children to receive a portion of the proceeds of your life insurance or your retirement account.
Our very own Alex Bruno, founding Partner of Lynk Law, was recently featured in an article in Alegria Magazine.
Loving parents or grandparents may wish to leave assets, including life insurance and retirement accounts, to beneficiaries who are at this time legally underage. Generally, in California a minor child is not, by law, considered able to manage his or her own assets.
Every generation has its own unique set of popular names for babies. Some are classic names of family ancestors, some are chosen based on popular celebrities or events of the time, and some are entirely original. According to the BabyCenter website, the most popular names of 2013 were “Sophia” for girls, and “Jackson” for boys.
Our favorite Taxgirl columnist for Forbes, Kelly Phillips Erb, recently posted a story about (is it too soon?) the back-to-school shopping frenzy. For many parents, it’s the storm before the calm. This rush to collect school clothes and supplies generates huge revenues that could almost rival those of the Christmas season.
One of the rewarding parts of our practice is educating clients on the nuances of the law. Often times, potential clients walk into our office with preconceived notions about the law and how it applies to them. The following are statements we regularly hear from our clients.
Many of our clients come to see us after they have found their “happily ever after” the second time down the aisle. Higher divorce rates and longer life spans have increased the possibility of second or third marriages. With new marriages, come new ways to approach estate planning.
Being a parent comes with its share of responsibilities, and when you are a single parent, those responsibilities are doubled. Whether it’s driving one child to a piano lesson or picking up the other from soccer practice, the days can be long.
One of our previous blog posts discussed the management of your digital assets after your death, which many people seem to overlook when planning for their estate. Another asset that you might forget to consider, are your airline miles.