June 2019 Archives

What are the steps to form an LLC?

If you are starting a small business in New York, you may want to consider forming a limited liability company. An LLC may provide unique benefits, including limiting your personal liability for business debts. The process to form an LLC in New York is fairly simple, but there are specific steps you must follow.

Litigation and the future of your business

Business owners who are dealing with a lawsuit that is targeting their company may be worried about the case for many different reasons. They could have concerns about how the lawsuit will affect their finances, or they may fear that the case will bring unwanted attention to their business and shatter their good reputation. These are just some of the concerns that business owners have, and the outcome of litigation could have a major impact on the future of any business. When approaching a business-related lawsuit, it is important to keep this in mind and do everything you can to protect your company.

Reviewing the benefits of special needs trusts

Creating a trust can be incredibly helpful, whether someone wants to gain peace of mind with the knowledge that their estate will be taken care of after they pass away or they want to ensure that those they love have assets that will help them tremendously in the future. For some people, however, estate planning can be particularly complicated. For example, some have a loved one with special needs, and they worry that passing down assets to this individual could make them ineligible for government benefits. Fortunately, special needs trusts can help people avoid this and they offer other perks as well.

Business litigation and health crises

When a business owner is facing litigation, they may be experiencing other hardships in their lives. For example, some may be struggling with a health crisis, which can make it even more difficult for them to focus on and deal with the lawsuit. From a cancer diagnosis to some other serious health concern, this can be an extremely difficult position for any business owner. Unfortunately, some are so distraught and even physically affected by the health issues they are going through that they are unable to do everything they can to protect their business, which can result in additional complications.

Tom Petty's daughters and widow battle over control of trust

New York City residents may be reminded time and time again through advertisements, media and word of mouth exactly how important it is to see their estate planning while they still can. This emphasis may prompt the question of why estate planning is so important given that all it entails is ensuring that one's debts are paid and their remaining assets given to those they wish. Yet while that may be all that is needed in many situations, cases involving intangible properties (such as songs, art and writings) will often require continued management to ensure that they are not used without permission. If such scenarios, one will want to ensure that those managing the estate can effectively work together. 

Launching a business and the divorce process

The process of bringing a marriage to an end can be demanding for many reasons, especially for those who do not have very much free time or have concerns about the financial impact of divorce. For some entrepreneurs, approaching the end of their marriage can be very tough because they are also in the middle of launching a business. Not only do people often face financial hurdles while starting a business, but they may be under a great deal of pressure, which can place additional strain on their divorce.

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