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How Do You Choose the Right Business Structure for a New Company?

Starting a new company can feel both exciting and overwhelming. One of the most important decisions you'll make early on is choosing the right business structure. This choice affects your taxes, personal liability, management flexibility, and even your ability to raise capital.

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How Can Entrepreneurs Avoid Pitfalls in New Business Formation?

Starting a business can be exciting, but it also comes with risks that many entrepreneurs overlook. Every decision made at the beginning—from structuring the company to choosing partners and securing financing—sets the stage for long-term success or possible setbacks.

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Key Elements to Include in a Last Will and Testament

Creating a last will and testament assures that your assets and loved ones are protected. It allows you to specify how property, finances, and personal belongings will be distributed.

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Strategies for Protecting Assets Through Trusts in Estate Planning

When it comes to managing your wealth and protecting what you’ve worked hard to build, trusts are an important part of the equation. They offer a way to control how your assets are handled both during your lifetime and after. An estate planning attorney can help you design trusts that fit your personal goals and local laws.

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How Can a Comprehensive Estate Plan Minimize Probate Challenges?

When thinking about the future, few topics feel as important and yet as overwhelming as estate planning. While it’s natural to want to protect your assets and provide for your loved ones, the legal process after someone passes away can sometimes bring unexpected difficulties.

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Difference Between a Will and a Trust

You've heard of a "will" and a "trust," but you may not know the differences between the two. You may be asking yourself, "Do I need a will?" or "Do I need a trust?" or "Do I need both?"

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Attorney J. Kenneth Harris to Present at Trusts 101 Seminar

Attorney J. Kenneth Harris of Harris Law Offices will be discussing Grantor Trusts during his presentation at the National Business Institute’s Trusts 101 Seminar on October 6. The seminar is designed for professionals who are involved in the creation, administration, and termination of trusts – this includes attorneys, accountants, tax preparers, trust officers, and paralegals.

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Tax ID Numbers for LLCs ©2014

I recently had a client contact me with the following situation: a limited liability company ("LLC") was formed to operate a business and there was a single owner/member of the LLC. In the case of a single member LLC, the IRS (Internal Revenue Service) says that absent a specific election to the contrary a single member LLC is treated as an "ignored entity" for income tax purposes and, accordingly uses the member/owner's social security number for income tax filing purposes.

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Change of Beneficiary - What You Need to Know

One of the main purposes of estate planning is to have control over how your assets are distributed when you die. When you choose people to receive your money, your home, your furnishings and personal belongings, they are called "beneficiaries."

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