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We asked twelve of our very own estate planning attorneys one question: What’s the one piece of advice you’d give a family just starting to plan for a loved one with a disability? Their answers, submitted independently, clustered around a handful of themes.
The number of female-owned businesses is growing every year, and that’s incredible. Whether you’re launching your first venture or scaling an existing operation, one important element that often gets overlooked is proper legal structuring. Setting up the right business entity can help protect your personal assets from certain business-related liabilities and provides a foundation for growth.
Whether you own a lake house, ski cabin, beach property, or mountain retreat, protecting what matters most requires strategic foresight. Many property owners overlook the distinct legal and financial implications of vacation home ownership. Between asset protection, insurance requirements, and estate planning considerations, safeguarding a family legacy involves more than simply holding the deed in your personal name.
Choosing the right business partner is one of the most important decisions you can make. Equally important is deciding what happens if that partnership changes. Death, disability, retirement, divorce, or even a disagreement between owners can create uncertainty that threatens the stability of an otherwise successful business.
People sometimes assume a loved one can automatically step in to manage their finances or make medical decisions if they become seriously ill or incapacitated. In reality, that authority depends largely on whether important legal documents have already been put in place.
Families often put off establishing a special needs trust, reasoning that they’ll wait until the “right time.” However, the best time to begin planning often arrives much earlier than expected. Waiting until a loved one receives an inheritance, qualifies for government benefits, or experiences a major life change can complicate matters and limit the available options.
Setting up a special needs trust is one of the most important steps families can take to help provide long-term financial support for a loved one with disabilities while preserving eligibility for important government benefits. Because every family’s circumstances are different, creating the right trust requires careful planning and attention to detail.
