Okay Millennials, we are going to finalize this 3-part info session with Asset Protection!! When thinking of asset protection, even if you have no current assets, it is much more beneficial to have in the initial stages of planning rather than trying to group your assets together and place them later. Nevada is one of the…
Continue reading…Estate Planning for Millennials- You’re Not too Young to start Planning! (Part 2)
Revocable Living Trust: A Revocable Living Trust (RLT) is also known as a “Living Trust” and/or “Family Trust”. It is created to hold the Grantor’s (Trust Creator’s) assets for the duration of that person’s lifetime. Typically, the Grantor retains control over all of the trust assets, as long as he/she is alive & well. A RLT dictates…
Continue reading…Millennials – Time to Start Planning for your Estate! (Part 1)
Millennials are known for being digitally dependent, optimistic about the future, and the generation with the highest student loan debt (sigh). This oft-scrutinized generation is also criticized for being lax when it comes to “adulting” and planning for their fiscal future. However, this does not negate the need to talk about estate planning when it…
Continue reading…Estate Planning for your Pets!
For many of us, our pets are beloved and an extension of the family, in furrier form. However unlikely, it is possible that your pet may outlive you. What happens to your pet? Who cares for your pet? How is the pet financially cared for? Hopefully, there is a close friend or family member that…
Continue reading…Independent Contractor or Employee???
At first glance, it seems pretty clear cut. Independent contractors provide services to a company, but are not on the payroll, and (usually) bill for their time separately via invoice, like a vendor. Possibly, the most notorious denotation of an independent contractor is the tax responsibility. Instead of getting a W-2, like regular employees, independent…
Continue reading…Nevada Commerce Tax FAQs—- Deadline is August 15, 2016!
We’re getting a lot of questions about this issue, and I admit, it’s a bit confusing. You see, the measure for the Margin Tax was defeated during Nevada’s last legislative session… But we have to now deal w/ the Nevada Commerce Tax. What is it? The Commerce Tax is a new annual business tax passed…
Continue reading…Things to Do Following the Death of a Loved One: Part III
Links to Part I and Part II of this Series. The following outlines some of the legal duties associated with serving as Trustee of your loved one’s trust. “I’ve Been Named as Trustee… Now What?!” And then there are a few additional items of which you need to be aware: Again, this general list of duties is not meant…
Continue reading…Things to Do Following the Death of a Loved One: Part II
Part II of this series covers issues specific to successor trustees/trust administration. Part I of this series can be found here. For Trusts: The Person(s) Nominated as “Successor Trustee” May Also Need to: Inform the family/other beneficiaries named in the Trust that you are the Successor Trustee. Give copies of the Trust to known…
Continue reading…Things to Do Following the Death of a Loved One: Part I
Within the First Week: Determine whether any of decedent’s (decedent = deceased person) property needs to be safeguarded, such as a home, vehicle, vacation house, office, etc. Ensure that proper funeral/cremation arrangements have been made. Look for any letters of instruction/final wishes – our clients are typically given a “Memorial Instructions” worksheet, located in their…
Continue reading…All About Business: Limited Liability Company (LLC) Basics
A Limited Liability Company (LLC) is a non-corporate entity that provides limited liability to all of its owners (called “Members”). An LLC has a legal identity separate from its Members. LLCs are flexible types of business organizations that combine many of the great features of both partnerships and corporations. The LLC is a popular business…
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