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Monday, February 17, 2020

How Do You Form a C Corporation?


One of the central decisions when forming a business is what type of business structure you want to operate under. If you have settled on a corporation, then you have to choose what type of corporation you want. You will also need to decide what type of tax treatment you want for the corporation.


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Thursday, February 13, 2020

What Happens in Probate Court?


While some people may have heard the word “probate,” not many know what it means or what probate involves. Some may simply have been warned to try and avoid probate. It is expensive! It takes too much time! This is what is usually said when probate is mentioned. The majority of estates, however, will go through Read more . . .


Thursday, January 23, 2020

What Are the Fiduciary Duties of a Trustee?


A fiduciary shares a legal relationship with the principal that comes with certain responsibilities, or duties. The Principal is owed the duty and the fiduciary carries the burden of upholding the duty. A prime example of a fiduciary relationship is that which exists between a trustee and trust beneficiaries. Read more . . .


Monday, January 20, 2020

What Is a QTIP Trust?


There are many different trust types available to use when estate planning. Each different type of trust serves a different purpose and has its own benefits. The value that you may find in the proper implementation of the right kind of trust to serve your own purposes can be substantial. This is part of the reason why it is so important to begin Read more . . .


Thursday, January 16, 2020

Are Long Term Care Benefits Available to Veterans?


The benefits available to veterans can be complicated to understand, but often provide critical services to veterans in need. Many veterans find themselves needing help with the cost of long term care. Long-term care can include a variety of things, ranging from managing an illness to assistance with performing everyday tasks.
Read more . . .


Thursday, December 19, 2019

How to Select the Right Nursing Home Facility


Whether you are trying to make a decision for yourself or a loved one, selecting the right nursing home facility is a big decision. There is a wide range of options to consider. A facility will not be right for everyone. Take the time to research.

 

 


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Monday, December 16, 2019

What Happens When an Estate Is Closed?


The administration of an estate can be a lengthy and sometimes frustrating process. The personal representative of the estate is tasked with its administration and the job duties are extensive. To administer the estate, the personal representative must, among other things, gather and protect all assets, take inventory of the assets, notify all creditors, determine which debts are legitimate and must be paid off, and distribute the assets to the beneficiaries as directed by the will or, if there is no will, as directed by state intestacy laws.
Read more . . .


Wednesday, December 11, 2019

Should You Specify Your Desired Funeral Arrangements in Your Will?


Some people have a very specific idea of how they want their funeral to be arranged. Some may be elaborate and large celebrations of life, others may be low key, intimate affairs. Regardless of the style you have settled on, you will want to make it clear to your loved ones as to how you wish to be honored when you pass. There are several ways to do this.

Specifying Your Desired Funeral Arrangements in Your Will

Your will is one place where you could specify your desired funeral arrangements.
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Monday, November 18, 2019

How Can You Protect an Heir’s Inheritance from His or Her Spouse?


Whether you fear that your child has married someone unreliable or you have faced the reality that around half of all marriages end in divorce, there can be a number of reasons why you would worry about leaving an inheritance to your child that would end up in the hands of a spouse who winds up as a former spouse. During divorce proceedings, all marital property will be subject to division. The court will first determine what constitutes marital property and what is separate property. 

Generally speaking, marital property is any property acquired by you or your spouse during the course of your marriage, with some exceptions. Separate property generally includes property acquired by you or your spouse before marriage or property you acquired during the marriage by devise or gift.
Read more . . .


Wednesday, November 13, 2019

What Are the Most Common Estate Planning Mistakes to Avoid?


Putting an estate plan in place is so important. One of the most common estate planning mistakes is not having an estate plan at all. That being said, a properly drafted estate plan is critical to best serving you and your loved ones. Mistakes in the drafting of an estate plan can have serious consequences such as unintentionally disinheriting someone, to leaving your family to deal with large tax bills or intense legal battles. The best start to avoiding common Read more . . .


Friday, November 8, 2019

Why Would You Want to Avoid Probate?


You may have heard many negative sentiments about the probate process. However, many people do not actually understand the specifics about why people try to avoid probate. Proper planning ahead of time can help ensure that your estate will not need to go through probate at all or will, at least, substantially avoid it.
Read more . . .


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Monk Law Firm, PLLC assists clients throughout Charlotte, Rock Hill, Fort Mill and the surrounding areas.



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| Phone: 803-594-4453
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| Phone: 704-369-9977

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