Why Should I Form an LLC?

Nielsen Law Group discusses corporation formation, why you should file an LLC, and the tax benefits of doing so.

Who is Entitled to a Copy of a Will?

When a person dies and leaves a will, who gets a copy of that will? Watch this video and learn more about who is entitled to a copy of a will.

Know This Before You Sign a Power of Attorney

A power of attorney is used when you want to give someone the right to act on your behalf and in your place. The rights and powers are whatever is written on the document. This video covers the areas that you need to consider so that you can give away only the power that you intend for someone to have.

Irrevocable Vs Revocable Trust

Establishing a living trust is critical to the ability to protect your assets and beneficiaries when you die. But many people don't know that there are two types of trusts - irrevocable trusts and revocable trusts. With irrevocable trusts, the grantor's assets are moved out of the estate. In a revocable trust, assets stay in the grantor's estate. There are advantages to each type depending on the grantor's specific circumstances. Here is a rundown on the differences between the two types of trusts.

Irrevocable Trust

Most people are unaware of the advantages that this type of trust provides:

• Asset Protection - Moves assets out of the grantor's hands, keeping it safe from lawsuits or creditors. A trustee has the power to make decisions with or without the input of the grantor.
• No Estate Taxes - Many people are attracted to these trusts because they are protected from federal estate taxes.
• No Capital Gains Taxes - A skilled lawyer will be able to move assets into irrevocable trusts so as to avoid capital gains taxes. This cannot occur with a revocable trust.

Before placing assets into this type of trust, make sure that the grantor will never need them. While it is possible to retrieve assets, it is very difficult and time-consuming.

Revocable Trust

Most people have an idea of what this type of trust is. Grantors without complicated tax issues that want to still maintain control over their assets, often choose to have this trust.

• Mental Disability - Individuals who fear that they will one day be incapacitated, may want to designate a trustee to handle their assets which can include extensive instructions that the trustee must carry out. This is called a Disability Trustee.
• To Protect Beneficiaries and Property - Keeps your property and assets out of probate. This ensures that your documents stay private and out of the public record. If privacy is important to you, consider a Revocable Living Trust as opposed to a Last Will and Testament which becomes a matter of public record that can be seen by anyone.
• To Avoid Probate - Assets at the time of a person's death will pass directly to the beneficiaries named in the trust agreement and avoid probate.
• For Flexibility - These types of trusts can be changed. If you have a second thought about a particular item or beneficiary, you can modify the document through a trust amendment. If you don't like the trust as a whole, then you can revoke the entire document.

Word of Caution: These trusts offer not creditor protection. If the asset holder is sued, the items in the trust are fair game. Upon your death, those assets will be subject to federal and state estate taxes.

Article Source: http://EzineArticles.com/?expert=Kathryn_McDowell

Article Source: http://EzineArticles.com/9016957

What is the Difference Between a Power of Attorney and a Durable Power of Attorney?

George F. Indest III and The Health Law Firm's attorneys lecture on the difference between a Power of Attorney and Durable Power of Attorney. 

Living Wills and Advance Directives for Medical Decisions

Living wills and other advance directives are written, legal instructions regarding your preferences for medical care if you are unable to make decisions for yourself. Advance directives guide choices for doctors and caregivers if you're terminally ill, seriously injured, in a coma, in the late stages of dementia or near the end of life.

Advance directives aren't just for older adults. Unexpected end-of-life situations can happen at any age, so it's important for all adults to prepare these documents.

By planning ahead, you can get the medical care you want, avoid unnecessary suffering and relieve caregivers of decision-making burdens during moments of crisis or grief. You also help reduce confusion or disagreement about the choices you would want people to make on your behalf.

Power of attorney

A medical or health care power of attorney is a type of advance directive in which you name a person to make decisions for you when you are unable to do so. In some states this directive may also be called a durable power of attorney for health care or a health care proxy.

Depending on where you live, the person you choose to make decisions on your behalf may be called one of the following:

• Health care agent
• Health care proxy
• Health care surrogate
• Health care representative
• Health care attorney-in-fact
• Patient advocate

Choosing a person to act as your health care agent is important. Even if you have other legal documents regarding your care, not all situations can be anticipated and some situations will require someone to make a judgment about your likely care wishes. You should choose a person who meets the following criteria:

• Meets your state's requirements for a health care agent
• Is not your doctor or a part of your medical care team
• Is willing and able to discuss medical care and end-of-life issues with you
• Can be trusted to make decisions that adhere to your wishes and values
• Can be trusted to be your advocate if there are disagreements about your care

The person you name may be a spouse, other family member, friend or member of a faith community. You may also choose one or more alternates in case the person you chose is unable to fulfill the role.

Living will

A living will is a written, legal document that spells out medical treatments you would and would not want to be used to keep you alive, as well as your preferences for other medical decisions, such as pain management or organ donation.

In determining your wishes, think about your values. Consider how important it is to you to be independent and self-sufficient, and identify what circumstances might make you feel like your life is not worth living. Would you want treatment to extend your life in any situation? All situations? Would you want treatment only if a cure is possible?

You should address a number of possible end-of-life care decisions in your living will. Talk to your doctor if you have questions about any of the following medical decisions:

• Cardiopulmonary resuscitation (CPR) restarts the heart when it has stopped beating. Determine if and when you would want to be resuscitated by CPR or by a device that delivers an electric shock to stimulate the heart.
• Mechanical ventilation takes over your breathing if you're unable to breathe on your own. Consider if, when and for how long you would want to be placed on a mechanical ventilator.
• Tube feeding supplies the body with nutrients and fluids intravenously or via a tube in the stomach. Decide if, when and for how long you would want to be fed in this manner.
• Dialysis removes waste from your blood and manages fluid levels if your kidneys no longer function. Determine if, when and for how long you would want to receive this treatment.
• Antibiotics or antiviral medications can be used to treat many infections. If you were near the end of life, would you want infections to be treated aggressively or would you rather let infections run their course?
• Comfort care (palliative care) includes any number of interventions that may be used to keep you comfortable and manage pain while abiding by your other treatment wishes. This may include being allowed to die at home, getting pain medications, being fed ice chips to soothe mouth dryness, and avoiding invasive tests or treatments.
• Organ and tissue donations for transplantation can be specified in your living will. If your organs are removed for donation, you will be kept on life-sustaining treatment temporarily until the procedure is complete. To help your health care agent avoid any confusion, you may want to state in your living will that you understand the need for this temporary intervention.
• Donating your body for scientific study also can be specified. Contact a local medical school, university or donation program for information on how to register for a planned donation for research.

Do not resuscitate and do not intubate orders

You don't need to have an advance directive or living will to have do not resuscitate (DNR) and do not intubate (DNI) orders. To establish DNR or DNI orders, tell your doctor about your preferences. He or she will write the orders and put them in your medical record.

Even if you already have a living will that includes your preferences regarding resuscitation and intubation, it is still a good idea to establish DNR or DNI orders each time you are admitted to a new hospital or health care facility.

Creating advance directives

Advance directives need to be in writing. Each state has different forms and requirements for creating legal documents. Depending on where you live, a form may need to be signed by a witness or notarized. You can ask a lawyer to help you with the process, but it is generally not necessary.

Links to state-specific forms can be found on the websites of various organizations such as the American Bar Association, AARP and the National Hospice and Palliative Care Organization.

Review your advance directives with your doctor and your health care agent to be sure you have filled out forms correctly. When you have completed your documents, you need to do the following:

• Keep the originals in a safe but easily accessible place.
• Give a copy to your doctor.
• Give a copy to your health care agent and any alternate agents.
• Keep a record of who has your advance directives.
• Talk to family members and other important people in your life about your advance directives and your health care wishes. By having these conversations now, you help ensure that your family members clearly understand your wishes. Having a clear understanding of your preferences can help your family members avoid conflict and feelings of guilt.
• Carry a wallet-sized card that indicates you have advance directives, identifies your health care agent and states where a copy of your directives can be found.
• Keep a copy with you when you are traveling.

Reviewing and changing advance directives

You can change your directives at any time. If you want to make changes, you must create a new form, distribute new copies and destroy all old copies. Specific requirements for changing directives may vary by state.

You should discuss changes with your primary care doctor and make sure a new directive replaces an old directive in your medical file. New directives must also be added to medical charts in a hospital or nursing home. Also, talk to your health care agent, family and friends about changes you have made.

Consider reviewing your directives and creating new ones in the following situations:

• New diagnosis. A diagnosis of a disease that is terminal or that significantly alters your life may lead you to make changes in your living will. Discuss with your doctor the kind of treatment and care decisions that might be made during the expected course of the disease.
• Change of marital status. When you marry, divorce, become separated or are widowed, you may need to select a new health care agent.
• About every 10 years. Over time your thoughts about end-of-life care may change. Review your directives from time to time to be sure they reflect your current values and wishes.

Physician orders for life-sustaining treatment (POLST)

In some states, advance health care planning includes a document called physician orders for life-sustaining treatment (POLST). The document may also be called provider orders for life-sustaining treatment (POLST) or medical orders for life-sustaining treatment (MOLST).

A POLST is intended for people who have already been diagnosed with a serious illness. This form does not replace your other directives. Instead, it serves as doctor-ordered instructions — not unlike a prescription — to ensure that, in case of an emergency, you receive the treatment you prefer. Your doctor will fill out the form based on the contents of your advance directives, the discussions you have with your doctor about the likely course of your illness and your treatment preferences.

A POLST stays with you. If you are in a hospital or nursing home, the document is posted near your bed. If you are living at home or in a hospice care facility, the document is prominently displayed where emergency personnel or other medical team members can easily find it.

Forms vary by state, but essentially a POLST enables your doctor to include details about what treatments not to use, under what conditions certain treatments can be used, how long treatments may be used and when treatments should be withdrawn. Issues covered in a POLST may include:

• Resuscitation
• Mechanical ventilation
• Tube feeding
• Use of antibiotics
• Requests not to transfer to an emergency room
• Requests not to be admitted to the hospital
• Pain management

A POLST also indicates what advance directives you have created and who serves as your health care agent. Like advance directives, POLSTs can be canceled or updated.

Article Source: https://www.mayoclinic.org/healthy-lifestyle/consumer-health/in-depth/living-wills/art-20046303

Annulment Versus Divorce

There are various ground upon which an annulment or a divorce could be granted by a court. The legal consequences could be very important, since an annulment basically erases a marriage, whereas a divorce simply terminates it.

Tax Benefits of LLC | LLC Taxes Explained by a CPA - How Does a LLC Save Taxes?

LLCs are by far the most popular entity type amongst small businesses.

But what exactly are the benefits of a LLC? How does it protect your business? And more importantly, what are the tax benefits of choosing a LLC over another entity?

The answers to these questions may influence the entity structure that you choose for your business, and… how much money you end up paying the IRS.

That's why in this episode, I’m going to explain all of the tax benefits related to LLCs.

How To Have A Good Divorce

The end of any relationship is always tough, but getting divorced magnifies the struggles further. While we often see divorces turn nasty, whether witnessing it personally or on the media, it doesn't always have to go bad - all it takes are shits in perspective. In today's episode, I'll be sharing tips on how you can come out of your divorce emotionally unscathed!

Children and Divorce

For children, separation and divorce can be an especially sad, stressful, and confusing time. But there are ways to help your kids cope with the upheaval of a breakup.

Helping your child through a divorce
A separation or divorce is a highly stressful and emotional experience for everyone involved, but children often feel that their whole world has turned upside down. At any age, it can be traumatic to witness the dissolution of your parents’ marriage and the breakup of the family. Kids may feel shocked, uncertain, or angry. Some may even feel guilty, blaming themselves for the problems at home. Divorce is never a seamless process and, inevitably, such a transitional time doesn’t happen without some measure of grief and hardship. But you can dramatically reduce your children’s pain by making their well-being your top priority.

Your patience, reassurance, and listening ear can minimize tension as your children learn to cope with unfamiliar circumstances. By providing routines your kids can rely on, you remind them that they can count on you for stability, structure, and care. And by maintaining a working relationship with your ex, you can help your kids avoid the stress and anguish that comes with watching parents in conflict. With your support, your kids can not only successfully navigate this unsettling time, but even emerge from it feeling loved, confident, and strong—and even with a closer bond to both parents.

How to tell kids about divorce
When it comes to telling your kids about your divorce, many parents freeze up. Make the conversation a little easier on both yourself and your children by preparing what you’re going to say before you sit down to talk. If you can anticipate tough questions, deal with your own anxieties ahead of time, and plan carefully what you’ll be telling them, you will be better equipped to help your children handle the news.

What to say and how to say it
Difficult as it may be, try to strike an empathetic tone and address the most important points right up front. Give your children the benefit of an honest—but kid-friendly—explanation.

Tell the truth. Your kids are entitled to know why you are getting a divorce, but long-winded reasons may only confuse them. Pick something simple and honest, like “We can’t get along anymore.” You may need to remind your children that while sometimes parents and kids don’t always get along, parents and kids don’t stop loving each other or get divorced from each other.

Say “I love you.” However simple it may sound, letting your children know that your love for them hasn’t changed is a powerful message. Tell them you’ll still be caring for them in every way, from fixing their breakfast to helping them with homework.

Address changes. Preempt your kids’ questions about changes in their lives by acknowledging that some things will be different, and other things won’t. Let them know that together you can deal with each detail as you go.

Avoid blaming
It’s vital to be honest with your kids, but without being critical of your spouse. This can be especially difficult when there have been hurtful events, such as infidelity, but with a little diplomacy, you can avoid playing the blame game.

Present a united front. As much as you can, try to agree in advance on an explanation for your separation or divorce—and stick to it.

Plan your conversations. Make plans to talk with your children before any changes in the living arrangements occur. And plan to talk when your spouse is present, if possible.

Show restraint. Be respectful of your spouse when giving the reasons for the separation.

Help your child grieve the divorce
For kids, divorce can feel like an intense loss—the loss of a parent, the loss of the family unit, or simply the loss of the life they knew. You can help your children grieve their loss and adjust to new circumstances by helping them express their emotions.

Listen. Encourage your child to share their feelings and really listen to them. They may be feeling sadness, loss or frustration about things you may not have expected.

Help them find words for their feelings. It’s normal for children to have difficulty expressing their feelings. You can help them by noticing their moods and encouraging them to talk.

Let them be honest. Children might be reluctant to share their true feelings for fear of hurting you. Let them know that whatever they say is okay. They may blame you for the divorce but if they aren’t able to share their honest feelings, they will have a harder time working through them.

Make talking about the divorce an ongoing process. As children age and mature, they often have new questions, feelings, or concerns about what happened, so you may want to go over the same ground again and again.

Acknowledge their feelings. You may not be able to fix their problems or change their sadness to happiness, but it is important for you to acknowledge their feelings rather than dismissing them. You can also inspire trust by showing that you understand.

Let kids know they’re not at fault
Many kids believe that they had something to do with the divorce, recalling times they argued with their parents, received poor grades, or got in trouble. To help your kids let go of this misconception:

Set the record straight. Repeat why you decided to get a divorce. Sometimes hearing the real reason for your decision can help.

Be patient. Kids may seem to “get it” one day and feel unsure the next. Treat your child’s confusion or misunderstandings with patience.

Reassure. As often as you need to, remind your children that both parents will continue to love them and that they are not responsible for the divorce.

Give reassurance and love
Children have a remarkable ability to heal when given the support and love they need. Your words, actions, and ability to remain consistent are all important tools to reassure your children of your unchanging love.

Both parents will be there. Let your kids know that even though the physical circumstances of the family unit will change, they can continue to have healthy, loving relationships with both of their parents.

It’ll be okay. Tell kids that things won’t always be easy, but that they will work out. Knowing it’ll be all right can provide incentive for your kids to give a new situation a chance.

Closeness. Physical closeness—in the form of hugs, pats on the shoulder, or simple proximity—has a powerful way of reassuring your child of your love.

Be honest. When kids raise concerns or anxieties, respond truthfully. If you don’t know the answer, say gently that you aren’t sure right now, but that you’ll find out and it will be okay.

Provide stability through the divorce
While it’s good for kids to learn to be flexible, adjusting to many new circumstances at once can be very difficult. Help your kids adjust to change by providing as much stability and structure as possible in their daily lives.

Remember that establishing structure and continuity doesn’t mean that you need rigid schedules or that mom and dad’s routines need to be exactly the same. But creating some regular routines at each household and consistently communicating to your children what to expect will provide your kids with a sense of calm and stability.

The comfort of routines
Kids feel safer and more secure when they know what to expect next. Knowing that, even when they switch homes, dinnertime is followed by homework and then a bath, for example, can set a child’s mind at ease.

Maintaining routine also means continuing to observe rules, rewards, and discipline with your children. Resist the temptation to spoil kids during a divorce by not enforcing limits or allowing them to break rules.

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