Lessons in Estate Planning: Lisa Marie Presley
The battle over the estate of Lisa Marie Presley is the latest dispute involving celebrities who died without proper estate planning. While most people don’t have an estate as large as the Presley’s, there are important lessons for anyone to learn from this...
What Are the Ongoing Administrative Requirements for a Tax-Exempt Organization?
Once you have established a tax-exempt organization (or nonprofit), there are ongoing administrative and reporting requirements. An attorney well versed in tax-exempt status can advise you regarding how to ensure you are running your organization properly, as,...
Should You Use a No-Contest Clause in Your Will or Trust?
No one wants to draft a will or trust leaving assets to beneficiaries only to have one of them sue the estate or trust. Unfortunately, there is no surefire way to prevent someone from contesting a will or trust, but a no-contest clause can minimize the risk of...
How Do You Qualify Medically for Long-Term Care Coverage Under Medicaid?
If you or a loved one needs long-term care coverage, Medicaid is one possible way to pay for that care. However, there are two parts to qualifying for Medicaid coverage. First, you must meet certain financial requirements that establish how much income and assets...
Three Common Medicaid Myths Debunked
Media coverage about the high cost of long-term care has prompted many people to think about how they would pay for care if they or a loved one needed it. Unfortunately, most individuals wait too long to plan and while some last-minute planning can be done, waiting...
How to Prevent Shareholder Litigation in a Closely Held Corporation
A closely held corporation is a private corporation with typically five or less owners (shareholders). There are millions of such businesses in the U.S. and many face unique challenges because of their size. One of those challenges is the potential for internal...