Once you create an estate plan, you need to revisit it regularly to ensure it is still current. If you let it get out of date and something happens to you, you will create problems for yourself and your family. Issues that you could easily have avoided through regular...
Lehigh County Estate Administration Blog
Can a child you never acknowledged get a share of your estate?
As you’re developing your estate plan, you may be thinking about a child you fathered many years ago with a woman you never married. You’ve had no relationship with that child over the years and maybe have no idea where they are or even if they’re still alive. Either...
What exactly is a durable power of attorney?
When you are not in a mental or physical condition to make decisions surrounding your health or finances, you need someone to do it for you. It could be a relative or a friend you trust to make the right calls. Making some of these decisions, such as those surrounding...
Types of business dissolution
One common misconception about businesses is that they are immortal entities. However, the reality is that businesses can come to an end. There are a variety of reasons why a business might dissolve, ranging from financial difficulties to disagreements among owners....
Understanding the buyout negotiation process
Most companies want to avoid layoffs at all costs. However, during times of economic downturn or just when the business isn’t bringing in as much revenue as it did in the past, these decisions must be made. An alternative to layoffs and handing out pink slips is...
Things to consider when dissolving your business
There are several reasons why someone may decide to dissolve their business, whether due to health concerns, financial hardship, or contemplating life changes, such as retirement. Dissolving a business can be a complex process. Before dissolving your company, there...
3 legal aspects to consider when starting a business
Beginning your first business venture can be so exciting that the last thing you want to do is burst the bubble by sitting down to do paperwork. You want to be out there dreaming up ideas, wowing investors and preparing to leave the competition for dust. Yet, if you...
6 steps to take for a good business succession plan
When you have spent years of your life building a successful business, succession becomes a natural concern. Whether this will involve family members or outside hires, it’s essential to be objective to ensure the business's successful continuity. You don’t have to...
Debt can impact your financial stability or estate without a plan
Taking on some amount of debt is often part of managing a household. You can never predict when your vehicle might break down or you will need to repair the roof in your home. Having credit available makes it easier to cover these unexpected and unpredictable...
Who should be your health care agent?
People who are trying to create an estate plan can often become so focused on what they want to happen to their assets that they neglect other aspects of their end-of-life planning. You also have to consider decisions about your health care so that you know your...