Starting and building a successful business can be a very rewarding vocation. The satisfaction that comes from overcoming obstacles to establish the right business culture with the right people and a quality brand name cannot be fully appreciated unless you have done it. But even successful entrepreneurs often fail to consider their exit plan, even … Business Succession Planning: A Process, Not an Event
Safe deposit boxes are widely used to store important documents, including wills, deeds, birth certificates, savings bonds, stock certificates, and cash. Other common contents of safe deposit boxes are precious metals, jewelry, coin collections, gems, and family heirlooms. Safe deposit boxes often create challenges for family members when the owner of the box passes away. … Safe Deposit Boxes and Your Estate Planning
You cannot completely disinherit children under Alaska law, including the ones you didn’t even know you had.
Most people believe that an estate plan consists of one legal document, the Will, which is more completely known as a Last Will and Testament. However, your Will doesn’t become effective until you pass away. In fact, a Will doesn’t have any legal effect whatsoever while you are alive. This causes some estate planning lawyers … What is a Living Probate?
What a difference two decades makes. In 1998, the federal estate and gift tax lifetime exemption was only $600,000. With a home, a modest IRA, and a life insurance policy, many middle class Americans had estates subject to estate taxes in the late 1990s.
Recreation in the wild and scenic beauty of the Last Frontier is a way of life in Alaska. Many Alaskans own and operate private aircraft and watercraft so they can enjoy these recreational opportunities. But what is the potential risk to the owners and operators of the aircraft and watercraft when they take friends and … Aircraft and Watercraft Liability Protection
If you are doing business as a limited liability company (LLC) and have not clearly let people know that you are operating as an LLC, you could lose the liability protection that LLCs were intended to provide.
As we turn the page on another year, it is a good time to review your estate plan and consider making financial gifts to your children and grandchildren.
We all like to be in charge because it gives us a sense of control. This is particularly true when it comes to managing our finances and personal health. None of us really think about giving up control or—worse—losing control.
A few years ago, the US News and World Report estimated that Americans held over $8.5 trillion in their IRAs and 401K plans. Most plan participants expect to use the money for their retirement needs, but a substantial portion of this money will actually pass to the named beneficiaries of account holders. Here are six … IRA Rules: Key Points About IRA Inheritance & Distribution