Asset protection is an important part of estate planning. A well-constructed estate plan can help you protect your assets from creditor claims and other lawsuits. Notably, annuities and other retirement accounts are among the most effective creditor protection tools available. In this article, our Cortland estate planning attorney explains the key things to know about… Read more »
Common-law marriage is a legal framework whereby a couple could be considered “married” based on the length of their relationship and the representations that they make to friends and family—even without a formal marriage license. The National Conference of State Legislatures (NCSL) notes that only eight states still actively recognize common-law marriages. Ohio is no… Read more »
Sometimes I hear, “Why do I need a lawyer to create an LLC? I can do it myself.” While it is true that a person might be able to file the document required to create an LLC, that alone does not create the LLC. A record of the formation process needs to be created –… Read more »
Wealth management and asset protection are important aspects of estate planning. With a well-crafted estate plan, you can put yourself and your family in the best position to preserve your hard-earned life savings. Estate planning must be personalized—the asset protection strategy that works for someone else may not be well-suited for your specific situation. In… Read more »
Do you own a business with one or more other partners? Whether you are a member of a partnership or you share ownership of a limited liability company (LLC) or a corporation, it is crucial that you are prepared for a day when an owner may have to the company with relatively little warning. A… Read more »
For most people, the primary residence is the single largest asset that they own. According to a recent report from the National Association of Home Builders (NAHB), homeownership is a key component of household wealth in the United States. A primary residence makes nearly half of the total wealth owned by the median homeowner in… Read more »
Small and mid-sized businesses are the backbone of our economy. According to data provided by the United States Small Business Administration (SBA), there are more than 965,000 small companies in Ohio. When you create a successful business, you have built something to support yourself, your family, and your community. Passing on business interests to your… Read more »
For business owners, there are few things more frustrating than facing a lawsuit. According to a recent report cited by Forbes, somewhere between 36 and 53 percent of businesses in the United States are sued each year. Litigation can come from a supplier, a competing company, an employee, a client/customer, an employee, or even a… Read more »
Every adult in Ohio should have a will. When a person passes away, their will largely controls what happens to their property and assets. Without a will, surviving family members can be stuck trying to work out a complicated, unclear situation. At the same time, probate disputes can arise even if there is a will…. Read more »
According to data provided by the Health Resources and Services Administration (HRSA), approximately one in eight American children have special needs. Special needs children require specialized planning, especially when parents are setting up their estate. Here, our Ohio estate planning lawyer explains the importance of setting up a power of attorney for a special needs… Read more »