The simple answer is yes! All businesses should have a succession plan in place. Most large businesses have some structure that would sustain the business if a key manager were to become incapacitated or die. However, small business owners typically do not have a plan for how the entity will continue in this situation. Who…
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We are often asked for referrals to financial advisors and we are happy to make introductions. Occasionally clients hesitate to work with a financial advisor because of confusion about the cost. Many of our clients have heard that they should only work with a “fee only” financial advisor, but they don’t understand what that means. …
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When people hear the word “trust”, they often think of uber-wealthy “trust fund babies” like Paris Hilton. The truth is, there are lots of reasons to have a trust, and trusts are a very common part of an estate plan. While the Hilton family and other wealthy families may use trusts for tax planning and…
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When real property (land) is shared by two or more people, there are two options for how they will own the property. One option is called Tenants in Common, and the other is called Joint Tenants with Right of Survivorship (JTWRS). If a deed is set as Tenants in Common, property is owned in equal…
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While it is great that you have your estate plan in place, it is important that you review it from time to time to be sure it is up to date and still does what you want it to. An annual review is recommended and at the very least you should review your estate plan…
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Often our clients ask if they should add their adult children to the deed for their house so that the house can pass automatically to the children as joint tenants with right of survivorship when both parents are gone. The considerations are the same whether you are a single parent or a couple considering adding…
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Legacy Studio is a finalist in an “automated legal product” contest, and WE NEED YOUR VOTE so we can expand access to expert estate planning counsel to more people with our innovative product idea! Please click this link: https://info.afterpattern.com/news/legal-products-competition-finalists and vote for us: Estate Planning Product-Service Hybrid (submitted by Legacy Studio) Surveys consistently show…
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Do you find your parents are trying to give you more and more things as they downsize or redecorate their homes? If you’re like me you’re already covered up with your own stuff and your kids’ stuff and end up donating their thoughtful hand-me-downs. Have you ever wondered, “where do my donations go?” Your donations…
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This week we are proud to be celebrating the 2nd anniversary of Deanie Quillian joining us as an attorney. Deanie has guided dozens of families through the estate administration process and worked on hundreds of estate plans. We routinely hear from our clients that Deanie’s patience and attention to detail give them peace of mind…
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Chandler Stutzman began clerking at Legacy Studio in December of 2019. We have been so fortunate to have this diligent, detail oriented person on our team these past 8 months. He is a graduate of the University of Georgia with a B.A. in International Affairs and is in his third year of law school at…
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