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December 2017 Archives

5 Situations in Which You Should Hire a Real Estate Attorney

Matters of real estate are almost always complex, and generally involve much more money than any other purchase or sale transaction you may conduct. You would think only the buyer and seller, the true parties in interest, are affected, but there are many other persons at the table with a financial interest in closing a real estate transaction. The only one in the room other than you who has your best interests at heart is your lawyer.

The Benefits of Keeping a Family Business Lawyer on Retainer

Starting and running a business is no simple task. There are many issues you must address and comply with if you're going to do it adequately. Not to mention that most aspects of business management come with a multitude of legal issues to be addressed, at least initially, and thereafter, on an occasional or exception basis.

What you can learn from Michael Jackson's estate planning mistake

The larger an estate is, the more prone it will be to errors and mistakes due to its complexity. Nevertheless, you'd think that a man like Michael Jackson would create the most rock-solid estate possible, but the King of Pop made a big mistake in his estate planning that everyone can learn something from.

How much will I pay in federal estate taxes?

Not too long ago, there existed the risk that much of your loved one's estate would get eaten up by the federal "death tax." However, large exemptions currently exist that protect the vast majority of estates from paying federal estate taxes. Let's take a closer look at this exemption to determine how much -- if anything -- your estate may need to pay after you die.

What's a family limited partnership?

Large estates run the risk of getting hit with serious tax liabilities related to federal estate taxes. Even if the estate planner wants to give his or her wealth away before death, it could trigger gift tax liabilities. However, creating a family limited partnership (FLP) could be one way to bypass many common estate-related tax liabilities.

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