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Will vs. Trust

Wills vs. Trust A Will A will is an essential legal document that’s typically a big part of an estate plan for distributing your assets after death. It can guide everything from personal assets, real estate, and even appointing a guardian for minor children. However, it has limits. A trust can be started at death, but can also be created and funded during your lifetime. It is a vehicle (or an entity, like a business), where it can hold any type of assets and is not contingent on your life/death. A trust continues to handle its assets even after

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What is a Nonprofit? and How to Start One

What Is a Nonprofit, and How Do You Start One? When starting any organization, it’s important to decide what entity type works best for your situation. For profit companies like an LLC, Partnership, or Corporation can be great vehicles for creating a successful business and can be created for almost any reason. However, nonprofits are more restrictive. They need to qualify under a particular purpose for the IRS to approve it, and have certain restraints on how it spends money, and how they operate. What Is A Nonprofit? A nonprofit (NPO) is an organization created for a specific, qualified

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Is Your Will Still Valid When You Move?

A common question asked by clients is whether or not their estate planning documents, (wills, trusts, POA’s, AMD’s, etc.) will still be valid if they moved to another state. While this question has many caveats, a will is generally honored in other jurisdictions, as long as it was properly written according to the rules of the original state. However, due to differing state laws and probate courts, certain parts in the will may become invalid or contended. For instance, if you moved and then got married, the new state may have community property law instead of common law that

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