For Indiana businesses, the limited liability company – or LLC – can be a powerful tool for protecting personal assets by shielding entrepreneurs from personal liability. From a business standpoint, that can help to ensure that your home, car, and other personal property are not at risk if the business is ever sued for any reason. The LLC’s real value extends well beyond that protection, however, and extends even into the realm of estate planning. To maximize the benefits that you can enjoy from … [Read more...] about LLC Formation: How it Works and Why It Matters
Estate Planning
Secrets Every Indianapolis Estate Planning Attorney Wants You to Know
There are many among us who find it easy to believe that people in the legal profession prefer it when their clients are kept in the dark about how the law affects their lives. Some might call that job security – since that lack of knowledge would presumably ensure that attorneys always have clients in need of their services. That’s pure myth, of course. The reality is that almost all attorneys encourage their clients and would-be clients to gain greater insight into the law, since an informed … [Read more...] about Secrets Every Indianapolis Estate Planning Attorney Wants You to Know
Can a Partnership Be an LLC? Get the Answers You Need
Estate planning can be complex even under the simplest of circumstances. When you own your own business, however, that complexity seems to grow by leaps and bounds. Whether it’s asset protection, succession plans, or buy/sell agreements, there always seems to be some aspect of the company’s structure and operations affecting your overall estate planning effort. For those who share ownership of their company with another person, that partnership can raise other estate planning questions. For … [Read more...] about Can a Partnership Be an LLC? Get the Answers You Need
Six Reasons Why You Need an LLC Operating Agreement
As estate planning professionals who have helped many clients who own their own businesses, we’ve been involved with more than our fair share of Limited Liability Companies (LLC). The LLC continues to be one of the most popular ways for entrepreneurs to organize their companies, as it provides an affordable and more manageable way for many small business owners to limit their liability and separate their personal assets from their business interests. For many of these entrepreneurs, however, … [Read more...] about Six Reasons Why You Need an LLC Operating Agreement
A Simple Will is Never Enough
Apart from death and taxes, there are few real absolutes in life. For individuals who truly want to protect their interests and their families, however, estate planning can be said to be an absolute necessity. Oh sure, there are many people who never get around to organizing their affairs and preparing for the future, but that doesn’t mean that they shouldn’t do so. The fact is that a well-conceived estate plan can be essential for protecting your assets, avoiding problems related to incapacity, … [Read more...] about A Simple Will is Never Enough
IU Health’s Small Hospitals Bring Healthcare to Counties that Need It
One million dollars a year. That’s the estimated expense that Indiana University Health is planning on covering as it adds yet another county hospital to a network that now includes 15 such facilities serving an area that encompasses everything between Bloomington and Muncie. The newest facility to join that roster of small county healthcare centers is Frankfort Hospital, which was previously under the operational control of St. Vincent. IU Health’s network system of hospital facilities … [Read more...] about IU Health’s Small Hospitals Bring Healthcare to Counties that Need It
Recognizing the Benefits of Estate Planning Trusts
The desire to protect wealth and pass it on to one’s heirs has been around since ancient times. Though they may have differed with respect to their ambitions, kings, nobles, and commoners all shared a common desire to secure some type of legacy for their children and other heirs. That desire remains a motivating force for many millions of people in modern times. The difference is that we no longer squirrel away our legacy treasures in royal vaults or hidden corners of our cottages. Instead, we … [Read more...] about Recognizing the Benefits of Estate Planning Trusts
Why Your Business Structure Matters
When you’re committed to sound estate planning, there are many different things to consider. If you own your own business and want to create a sound estate plan, those considerations quickly multiply. Though many business owners never realize it until it’s too late, your company can have a major impact on important estate plan considerations ranging from tax concerns to asset protection. More importantly, a failure to recognize that potential impact could have dire consequences for the … [Read more...] about Why Your Business Structure Matters
How the LLC Limited Liability Can Aid Your Estate Planning Efforts
If you’ve been worried about leaving your assets vulnerable to predatory lawsuits, creditors, and other risks, you’re not alone. That’s one of the biggest concerns drawing so many Americans to estate planning these days. The problem that so many people have, however, is that they often end up failing to match their actual concerns with the right solutions. As people seek out free and low-cost estate planning tools on the internet and elsewhere, they often fail to understand that these tools … [Read more...] about How the LLC Limited Liability Can Aid Your Estate Planning Efforts
Your Essential Guide to Business Planning Basics
When it comes to estate planning, it’s easy to lose track of how your different interests intertwine and affect your broader strategy. Case in point: business planning. If you are the owner of a business, it’s not enough to simply prepare a Last Will and Testament, create powers of attorney, and maybe toss in a trust or two. Even if you accomplish all those goals, you will have still missed your target if you fail to use sound business planning to deal with the company that most likely … [Read more...] about Your Essential Guide to Business Planning Basics
