If you are thinking about starting a business, you probably already know that it is a major undertaking. You must think about everything from securing funding to pleasing initial customers. One critical tool that can help in each of these areas is a solid business plan.
Is it always wise to have a family member administer an estate?
There may be no one you trust more than your spouse and your kids. These people know you better than anyone and understand you; they may have seen you at your worst and your best. They probably know what you want and can even anticipate your needs.
Series LLC: a flexible umbrella company
If you own several different companies, franchises, or properties the management overhead can be considerable. When they are set up as independent entities the fees and filings take up a lot of manpower to remain current. One alternative, keeping everything as a personal asset, means that you assume a tremendous amount of liability.
What happens when animals are left out of an estate plan?
In previous posts, we have discussed how and why pet owners across Tennessee can set up a trust for the benefit of their companion animal. These trusts are becoming an increasingly common way to set aside resources for their pets.
Don't assume you are too young for an estate plan
People who are in their 20s or 30s are typically thinking more about beginnings than they are about endings. For instance, millennials are often focused on starting their career, starting a family, starting a business or starting to save for a home. They think far less about end-of-life planning.
