Do Not Drop the Baton When Transitioning the Business to the Next Generation
Walt has spent the last thirty years building a successful manufacturing business. During that time, he married his beautiful wife, Victoria, and they had two children. Victoria has finally convinced Walt that it is time to take a day off to meet with an estate planning attorney to create simple wills. According to the initial [...]
Estate Planning DURING Divorce
The turmoil of divorce can be both overwhelming and liberating. Once embarking on this emotionally draining process, it is easy to overlook making important changes to your estate plan. However, this is an important time to either update an existing estate plan or create a new one specific for you. 1. I DON’T OWN A [...]
Family Law & COVID-19
In times of uncertainty relating to our and our loved ones’ health, most parents with custody agreements are torn between abiding their visitation schedules and helping to “Flatten the Curve.” Our Family Law Team at Corthell and King Law Offices, P.C. has put together some answers to the most frequently asked questions. This information is [...]
What Happens to an LLC After a Member Dies?
A business issue that is rarely considered but has inevitable consequences. As a business owner, you know this old adage is true: the only certainties in life are death and taxes. Death is almost always a complicated event for the survivors, who have not only emotional but also logistical considerations to manage. However, when an owner [...]
Asset Protection for Entrepreneurs
Going into business for yourself is a risky endeavor. From investing in goods and services and hiring employees to simply carrying out the daily tasks related to your business, each step is fraught with risks. This is especially true given the litigious nature of our society. As a result, many entrepreneurs employ asset protection strategies. [...]
Four Things Business Owners Should Know about Trademark Infringement
Against the backdrop of globalization and the expansion of online business activity, trademark infringement is on the rise. Most elements of business branding—name, logo, design—are readily available online, making it easier for people to knowingly or unknowingly use the intellectual property of others. As a business owner, you must prioritize both protecting your own trademarks [...]
Five Types of Risk Businesses Face
Pursuing a business venture naturally involves risk. Eliminating all risk is not an option—there are many factors beyond your control, and it is impossible to prevent every circumstance that might deviate from your plans. Nevertheless, you can decrease the degree of risk to which your business is exposed by identifying risks and taking proactive steps […]
Trusts, and Wills, and Probate – OH MY!
Where to Begin When Creating an Estate Plan? Let’s face it, sitting around thinking about what should happen upon your death isn’t the definition Saturday-night fun. Understandably, most people find this topic completely overwhelming and decide to put off doing anything as long as possible. What most people don’t realize is that they do in [...]
Protecting Your Assets as We Prepare for Reentry After COVID-19
Wyoming’s best kept secret is the Wyoming Domestic Asset Protection Trust, which shields your assets form both creditors and future estate taxes. On March 9th, 12th and 16th of this year, the Dow Jones Industrial Average plunged with three of the worst record setting drops in U.S. history. Why? It was the perfect storm of [...]
Estate Planning 101
Estate planning is a topic that everyone (understandably) puts on the back burner. But whether you realize it or not, you have an estate and it is important to outline your wishes and desires to better guide and protect your loved ones. Let’s go over the basics. 1. What is an Estate Plan? A quality [...]
The Rare Case when the Limited Liability Veil will be Pierced in Wyoming
Wyoming is home to some of life’s finer pleasures… ski slopes dusted with champagne powder, nationally recognized fly fishing rivers, and the enactment of the first limited liability company statutes. Recently the limited liability protection afforded to members pursuant to the 2010 Wyoming Limited Liability Company Act was challenged. On November 7, 2014, the Wyoming [...]
King of Pop vs. Queen of Soul
It’s rare when we, the general public, can look to the Hollywood stars and learn meaningful lessons. However, the premature deaths of Michael Jackson and Whitney Houston are two prime examples of effective estate planning versus doing the bare minimum. Privacy It’s safe to say that Michael Jackson’s life was unconventional and bizarre at times. [...]