People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that
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By now, you have likely heard about the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) and the SECURE 2.0 Act of 2022 (part of the Consolidated Appropriations Act,
As a millennial, you are contributing to the workforce in a major way and are making positive changes in the world around you. We understand that your concerns may differ from someone of
When creating a last will and testament, one of your most important considerations is who to choose to serve as the executor or administrator of your estate. As the name implies, the role
As poet Robert Burns mused centuries ago, the best-laid plans of mice and men often go awry. Despite your best efforts and thoughtful strategies, you cannot prepare for every emergency in life. A
Under the Corporate Transparency Act (CTA), which took effect January 1, 2024, many business entities including small limited liability companies (LLCs) and partnerships are required to file reports with the Treasury Department’s Financial
Being named as a successor trustee in someone’s revocable living trust document can be considered a great honor. But with that honor comes responsibility. Whether you were appointed to this role due to
When establishing a trust, you must give serious thought to who you choose as your successor trustee—the person who will manage, invest, and hand out the trust’s accounts and property once you are
Occasionally, individuals may hesitate to serve on the board of a nonprofit because they are afraid that they may incur liability based on decisions they make as directors. However, Virginia promotes nonprofit board
While it may seem contradictory, a non-profit can own all of the ownership interest in a for-profit entity, whether such entity is a corporation or limited liability company. Why Create a For-Profit Subsidiary?
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