When aspiring business owners start tackling the process of legally forming a new company, they generally begin by choosing a formal structure. As the formation process differs for each formation structure, this approach makes sense. In order to better ensure that...
Lehigh County Estate Administration Blog
Revocable vs. Irrevocable trust: which one is right for you?
You’ve worked hard your entire life to build what you own today (your home, savings and other assets). This also means that you need to plan for what will happen to your hard-earned assets when you pass on. And this is where estate planning comes in. One of the most...
What types of insurance does your small business need?
No matter what, operating a small business comes with a certain amount of risk. Accidents happen, and you may one day be faced with some kind of claim against your company. Creating your new business as a corporation or a limited liability company can help insulate...
3 reasons to put your minor child’s inheritance into a trust
When people think about using trusts for someone's inheritance, they often picture incredibly wealthy individuals whose children will never need to work. However, trusts are actually beneficial for many middle-class families, not just the extraordinarily wealthy. If...
2 important steps every new entrepreneur should take
Starting a business is a lot like starting a new romantic relationship. It often comes with intense excitement about the future and some degree of personal risk. If you let your emotions dictate how you behave, you might eventually find yourself in a situation where...
What is estate planning and why should you care about it?
Despite what you might think, estate planning is not just for rich people who have a significant number of assets. Where you have possessions, you have an estate and you should be thinking about what you want to happen to it after you pass away. The estate planning...
Starting a business partnership? Here are 4 issues to address
There are many benefits of forming a business partnership. A business partnership can help you combine efforts, resources and skills. However, sometimes partnerships can fail. This often happens when partners fail to address some issues when during the formation of...
3 things to know before signing a commercial lease
Whether you are starting a brand new business or opening a branch at a new location, signing a new lease agreement can be a complicated undertaking. Before inking a commercial lease contract, it is important that you do your homework and arm yourself with as much...
3 questions to ask when choosing your minor child’s guardian
Parenting is a lifelong responsibility. However, life comes with its share of uncertainty. Like everyone else, you don’t know what tomorrow holds. And this may concern you if you have minor children. If a tragedy was to strike leading to your incapacitation or death,...
3 reasons to consider getting an annuity trust
More people are discovering the benefits of using trusts as estate planning tools. What’s interesting about an annuity trust is that you can choose another person to be your beneficiary, or you can become your own beneficiary. Some annuity trusts even allow you to...