After a will is executed, challenges can arise over the validity of the document. This is especially true if the will contains provisions that seem unfair or out of character for the testator or if someone advances a legitimate claim to some portion to the estate.
We have covered many of the different reasons why businesses are taken to court, but in this post we will focus on a major problem that has created many hardships for companies across the country--sexual harassment. Sexual harassment cases surface for various reasons, whether there is a problem that is rampant throughout a company or a group of workers or single employee have hard feelings and falsely claim that they were subjected to sexual harassment. As a business owner, you should do all you can to eliminate sexual harassment in the workplace. When a lawsuit arises, it is crucial to carefully go over all the details.
A number of different life changes may necessitate revising your estate plan, but the end of marriage is a particularly common reason for going over a will or creating a new trust. There are a number of ways in which divorce can lead to changes with respect to a person's estate plan, such as removing someone who they named as the executor, but we will focus on beneficiaries in this post.
You are running a thriving business in New York, but you do not want to work forever. If you were retiring from someone else's company, they could simply replace you, but as the owner, this transfer is not so straightforward. We at Codispoti & Associates, P.C., understand that part of a business's continuing success is in creating an effective succession strategy.
Many challenges may arise and create additional stress for those who own a business, such as disputes involving staff members or unique hurdles spread throughout an entire industry. However, litigation is especially difficult for many companies to navigate and it is important for you to take steps to protect the reputation of your business during this time. Whether you run a family-owned business or a major corporation, your business' reputation may be on the line if you are facing litigation and a negative outcome in the courtroom could spell disaster in the months and years ahead.
We have covered quite a few different topics related to estate planning on this blog, but this post will focus on estate planning issues that affect those with a high net worth. For people with significant assets, estate planning can be especially stressful and may even be challenging at times. Moreover, those who are struggling with a recent divorce can be particularly unsure of which course of action makes the most sense. As if a high-asset divorce is not tricky enough, the estate planning questions that may arise as a result of a couple bringing their marriage to an end may further complicate things.
We have discussed different issues with regard to estate planning, but a number of other decisions may have to be made by those who are creating or reviewing a will or trust. For example, some people may choose to adopt an adult as an estate planning tool, but it is important to bear in mind that there are certain considerations which should not be overlooked when it comes to adult adoption.