Progeny Law Firm

Protecting your estate from creditors should be a top priority when developing your estate plan. Creditors can take a substantial cut out of your estate and leave less for your loved ones. Protecting your assets is a function of financial security and allows your loved ones to enjoy more of your estate when you die.  […] The post How to Protect Your Estate From Creditors appeared first on Progeny Law Firm. http://dlvr.it/T24kf5

Estate planning is significant for unmarried couples, possibly even more so than married couples. This is because married couples have a built-in safety net provided by law. Unmarried couples are at a higher risk due to not having any automatic rights to property or health information for their partner. This article will discuss many issues […] The post Estate Planning for Unmarried Couples: How to Protect Your Partner appeared first on Progeny Law Firm. http://dlvr.it/T1sk4D

More and more people enjoy the freedom and flexibility of being a small business owner in today’s changing work environment. Estate planning is a necessary step that small business owners should not ignore. It can protect their business assets and secure a lasting inheritance for their loved ones. Small business owners face many challenges, such […] The post Protect Your Small Business with Estate Planning appeared first on Progeny Law Firm. http://dlvr.it/T1qGmR

Many people associate estate planning with asset distribution when they die, but it goes much further than that. Estate planning can help manage your assets, lower your tax liabilities while living, and state your medical care preferences if you cannot voice your wishes. The estate planning process can also protect your family from the unknown […] The post Top 3 Mistakes to Avoid in Estate Planning appeared first on Progeny Law Firm. http://dlvr.it/T1mSbJ

Many people think succession planning is only for big businesses or corporations employing thousands of people. However, freelancers can also benefit from strategic succession planning. There are many aspects of succession planning that freelancers should know. This article will explain the role of estate planning for freelance workers and small business owners.  Why Freelance Workers […] The post Succession Planning for Freelancers appeared first on Progeny Law Firm. http://dlvr.it/T1fCM2

Small business owners will have one more item on their compliance to-do list when the Corporate Transparency Act (CTA) takes effect next year. The CTA,[1] enacted as part of the Anti-Money Laundering Act of 2020 (AMLA), places new reporting requirements on many business entities in an effort to expose illegal activities, including the use of […] The post New Reporting Requirements for Small Businesses under the Corporate Transparency Act (CTA) appeared first on Progeny Law Firm. http://dlvr.it/T1cZnM

Protecting your assets is one of the most important aspects of financial management and leaving a lasting legacy for your loved ones. There are two main tools that are used in estate planning to accomplish this goal: trusts and wills. Both of these legal documents direct your property distribution and protect your assets; however, they […] The post Protecting Your Assets: Trusts vs. Wills appeared first on Progeny Law Firm. http://dlvr.it/T1Tdx3

More and more families own property, assets, and businesses together.  Using an entity to govern operations provides stability by allowing continued operation upon the death of an owner.  When the governing agreement and estate planning documents of a deceased owner conflict, unintended, potentially litigious, results occur.  The post Estate Planning with Entities appeared first on Progeny Law Firm. http://dlvr.it/T1C4Tt

If you have questions about probate, this article is for you. Many people have heard the term “probate” but don’t fully understand how it relates to them. Probate happens after a person dies, and their assets must be distributed either through intestacy laws or a will. Probate can be a complicated matter, but it’s important […] The post Probate Basics and What You Need to Know appeared first on Progeny Law Firm. http://dlvr.it/T18l9G

Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2024 is just starting, it’s not too early to think about planning for whatever it may bring your way. The post Tax Planning for 2024 appeared first on Progeny Law Firm. http://dlvr.it/T116P0