When most people turn 18, the last thing on their minds is estate planning. There are simply too many other exciting things to think about: college, careers, marriage, home-buying and freedom from parents! However, 18 is the magical age when you become an adult which means you are officially responsible for the course of your…
Although the two may sound very similar, a corporate lawyer is different from a business lawyer. Here is a quick overview of how the two differ and why you might need both types of lawyers for your company. • Corporate lawyer: focuses on the large-scale corporate entity by negotiating and reviewing contracts, overseeing mergers/acquisitions, creating…
When a loved one passes away, his or her estate typically goes through probate. This is a legal process that may be necessary for people who have created a will or for those who have not created a will. NOTE: If you want to help your loved ones avoid probate after you pass away, you…
Welcome to Law Lingo: a monthly blog series brought to you by Brown & Crona, LLC that explains estate planning terminologies in simple terms. This month we will explain limited liability company (LLC). If you are planning to start a business, it is advisable to create a business entity such as a sole proprietorship, corporation,…
A trust is a legal method to transfer your assets to another person or persons (trustees) who are responsible for holding your assets on behalf of your beneficiaries. You can also name yourself as the trustee of your trust and maintain complete control over your assets. Revocable living trusts are often recommended because they can…
Welcome to Law Lingo: a monthly blog series brought to you by Brown & Crona, LLC that explains estate planning terminologies in simple terms. This month we will explain estate law. Estate law may sound like something that would only apply to the rich and famous – or something that only older people would need…
A conservatorship is a legal appointment of a person who has been tasked with managing another person’s financial or life affairs. A conservatorship may be deemed necessary to protect an incapacitated person, a minor or an adult who the court feels is unable to properly care for his or her own financial affairs. (For example,…
Adulting is hard sometimes! Many adult responsibilities – even mundane ones – are necessary to fulfill your obligations: paying monthly bills, filing tax returns, purchasing/maintaining/selling a home or automobile, making/managing investments, etc. We often take for granted our ability to manage such tasks – even if they are not always easy or fun to do.…
A legal guardian is a person who is legally responsible for the care and well-being of a ward: a minor or an adult who cannot provide adequate self-care. A guardian may be appointed by the court (perhaps after being specifically named within an estate planning document) if the parents are deceased or if they are…
Welcome to Law Lingo: a monthly blog series brought to you by Brown & Crona, LLC that explains estate planning terminologies in simple terms. This month we will explain the concept of personal autonomy. Personal autonomy is the ability to live life on your own terms, according to your own belief system and preferences –…
