Inheriting a business can provide financial opportunity and family legacy. However, it also comes with significant responsibilities and potential challenges.
A properly managed trust provides financial support to beneficiaries while protecting assets. However, trustees must ensure that expenses align with the trust’s purpose and legal requirements.
Trust disputes among beneficiaries can strain family relationships and jeopardize the integrity of an estate plan. Strategic conflict resolution can protect both the trust’s assets and familial bonds.
Inheritances can certainly be life-altering events. However, they can cause challenge. Therefore, it is important to have your heirs prepared or prepare yourself to protect your inheritance.
A no-contest clause can help prevent estate disputes by discouraging heirs from challenging a will or trust in court. However, these clauses are not always enforceable. A Tyler litigation lawyer can help protect your estate plan and navigate will contests or probate disputes.
The recent guardianship case of the McNair family and the Houston Texans NFL Owner, Janice McNair, highlights the importance of working with a skilled litigation attorney to help with building a solid case to prevent guardianship and consider alternatives to protect the autonomy of elderly or disabled loved ones.
In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person each year.
Giving generously while you’re alive can be more meaningful and impactful. Talk with Campbell Law Firm about how. you can incorporate gifting into a comprehensive estate plan.
On December 23, the Fifth Circuit Court of Appeals granted a Department of Justice motion to lift the injunction to pause reporting requirements for the Corporate Transparency Act. In light of the federal Court of Appeals decision, reporting companies are once again required to file beneficial ownership information with FinCEN.
