In recent years, greater divorce rates among older adults means that more elderly Ohio residents will need to think about estate planning without a spouse. Indeed, data from the Bureau of Labor Statistics suggests that more than 50 percent of American adults are single. What should single people know when it comes to estate… Read more »
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Important Tips for Writing A Will
None of us likes to think about death, but it’s extremely important for every Ohio resident to make a will. Even if you don’t own a significant amount of property, it’s likely that you want to ensure that certain members of your family inherit particular items that are currently in your possession. Whether you’re concerned about… Read more »
Forming a Business Partnership Without Even Knowing It
A car commercial currently on the airwaves begins by reminding viewers that many great inventions – from the light bulb to the personal computer – started out in somebody’s garage. It’s a typical rags-to-riches success story with a moral that’s worth remembering. What eventually became a big business actually began as a small personal… Read more »
Estate Planning and the Common Law Marriage in Ohio
It’s a scenario that’s become increasingly common around the country: A man and woman who’ve been dating for awhile decide to move in together. They share a household, routinely celebrate holidays with one another’s family, and may have purchased a car or other property together. In other words, their relationship has taken on… Read more »
Steps for Successful Business Succession Planning
Small businesses and entrepreneurial endeavors make up the majority of our country’s economy. There are almost 28 million registered small businesses in the United States, and they have generated over 65 percent of the net new jobs since 1995. People put years of their lives into growing their businesses, but only a small fraction… Read more »
Federal Government Raises Limit on Tax-Free Lifetime Gifts
Announced recently, the Internal Revenue Service raised the limit on tax-free transfers during life or at death. Starting in 2015, the limit, known also as the basic exclusion, will increase from $5.34 million this year to $5.43 million next year. However, the IRS also stated in the same announcement that the annual giving exclusion… Read more »
Planning an Estate – Qualified Terminable Interest Trusts in Youngstown
One of the most common concerns about estate planning for married couples is to make sure the surviving spouse is well provided for. A second, sometimes competing, concern is to make sure that the couple can leave as much of their estate as possible to their children. For residents of Youngstown who have these concerns,… Read more »
Business Formation in Aurora
If you are an entrepreneur in Aurora with an idea for a small businesses or an experienced business owner looking to set up a new entity, one of the first steps is business formation. As part of the business formation process, you must choose which type of legal business entity your new business will be…. Read more »
Test Blog from John C.Grundy
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