Posted by Karl Chen | Mar 10, 2023 |
This article discusses the importance of a power of attorney (POA) for elderly parents, which allows someone to make crucial decisions on their behalf when they are unable to do so. The article provides an overview of the different types of POAs, the common reasons for obtaining one, and tips on how to choose a reliable agent. The ultimate goal is to ensure that aging parents receive the best possible care and support, and the article encourages open and honest discussions and seeking objective advice.
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Posted by Karl Chen | Mar 07, 2023 |
As a parent, you are quite accustomed to managing your children's legal and medical affairs, as circumstances require. If your child requires urgent medical attention while away from you, a simple phone call authorizing care can do the trick. But what happens when those “children” turn 18, now ad...
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Posted by Karl Chen | Feb 28, 2023 |
If you have a current estate plan, I'll bet you plan to leave your assets to your children outright and unprotected by age 35, or maybe a little later. Go take a look at your estate plan and see what it does right now. And, if you don't have an estate plan, and you have kids or other people you c...
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Posted by Karl Chen | Oct 22, 2022 |
You've most likely dedicated significant time and energy to creating a vision for your business, executing that vision, and even writing up a detailed business plan for the growth of your business. Yet far fewer business owners put the same effort into planning for their company's continued succe...
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Posted by Karl Chen | Oct 17, 2022 |
This year, Estate Planning Awareness Week runs from October 17th to 23rd, and one of our primary goals is to educate you on the vital importance of not only preparing an estate plan, but also keeping your plan up-to-date. While you almost surely understand the importance of creating an estate pl...
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Posted by Karl Chen | Apr 22, 2022 |
Before you sign over the title to your family’s beloved homestead, consider the following potential risks...
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Posted by Karl Chen | Apr 15, 2022 |
If you are a mom or dad with children under the age of 18 at home, your number-one estate planning priority should be selecting and legally documenting both long and short-term guardians for your kids. Guardians are the people legally named to care for your children in the event something happens...
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Posted by Karl Chen | Apr 05, 2022 |
Even if you put a totally solid estate plan in place, it can turn out to be worthless for the people you love if it’s not regularly updated.
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Posted by Karl Chen | Apr 04, 2022 |
Although intellectual property (IP) has always been an essential part of most companies' overall value, with the rapid rise of internet-based technology and e-commerce over the last few decades, IP is increasingly becoming the primary source of value for businesses both large and small. In fact, ...
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Posted by Karl Chen | Apr 04, 2022 |
Many entrepreneurs structure their business as a limited liability company (LLC), because like corporations, LLCs offer personal liability protection for their owners. But unlike corporations, LLCs are not legally required to adhere to many of the same corporate formalities required of corporatio...
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Posted by Karl Chen | Mar 25, 2022 |
Although many strategies to save on your income taxes must be locked in before the end of the year, there are still numerous ways you can reduce your tax bill right up until the filing deadline, which has been pushed back to Monday April 18th due to a holiday on April 15th.
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Posted by Karl Chen | Mar 14, 2022 |
Unless you've created a proper estate plan, when you die many of your assets must first pass through the court process known as probate before those assets can be distributed to your heirs. Like most court proceedings, probate can be time-consuming, costly, and open to the public, and because of ...
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Posted by Karl Chen | Feb 25, 2022 |
It’s important to understand how working with us, your Personal Family Lawyer® is different from meeting with a traditional lawyer.
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Posted by Karl Chen | Feb 18, 2022 |
Neglecting to update your estate plan for divorce can have potentially tragic consequences. And you shouldn’t wait until the divorce is final to rework your plan.
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Posted by Karl Chen | Jan 25, 2022 |
Far too many aspiring entrepreneurs jumpstart their businesses without taking the time to properly plan. Just as a builder uses a blueprint to ensure a new construction project will be structurally sound, a carefully researched and well-thought-out business plan allows you to determine whether yo...
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Posted by Karl Chen | Jan 21, 2022 |
Relying on DIY or online estate planning documents can be one of the costliest mistakes you can make for your loved ones. Just because you created “legal” estate planning documents, that doesn’t mean they will actually work.
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Posted by Karl Chen | Jan 14, 2022 |
Do a Google search for “digital wills” or “online estate planning,” and you'll find dozens of different websites offering low-cost, do-it-yourself (DIY) and sometimes even free estate planning documents, such as wills, trusts, powers of attorney, and healthcare directives.
From LegalZoom® and Ro...
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Posted by Karl Chen | Dec 24, 2021 |
Proper estate planning is as much a part of responsible homeownership as having homeowners insurance or keeping your home’s roof well maintained.
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Posted by Karl Chen | Dec 10, 2021 |
You may be wondering why so many business owners choose January 1 as the start date for their company. Surely, it's not because everyone has the same New Year's resolution, right? The fact is, there are a number of distinct advantages to launching your Limited Liability Company (LLC) at the beg...
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Posted by Karl Chen | Dec 10, 2021 |
You want to plan wisely to ensure your home will pass to your heirs in the most efficient and safe manner possible when you die or in the event you become incapacitated by illness or injury.
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Posted by Karl Chen | Dec 07, 2021 |
Yours, mine and ours … in today's modern family, it's oh so common. The blended family is the product of 2nd (or more) marriages, in which one or more of the parties comes with children from a prior marriage. And then, they may even go on to have children together.
If you have or are part of a b...
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Posted by Karl Chen | Nov 19, 2021 |
Here we are going to discuss some of the most critical things you should know about living wills, and explain why having one is an essential part of every adult’s estate plan and how to get yours created or updated.
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Posted by Karl Chen | Nov 12, 2021 |
The employment landscape has changed over the last few years and many small and mid-size companies today operate with outside help – contractors or freelancers who perform important tasks but who are not full-time employees on your payroll, or even third-party companies who consult on a new produ...
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Posted by Karl Chen | Nov 12, 2021 |
The pandemic has caused Americans to change their behavior in a number of different ways, and one of the most positive of these changes is related to estate planning.
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Posted by Karl Chen | Nov 05, 2021 |
A comprehensive estate plan — which we prefer to see as a Life and Legacy Plan — can protect what matters most to you. For many, this means everything you own and everyone you love.
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