What is a family limited partnership? An FLP is an entity owned by two or more family members, created to hold the accounts, properties, or businesses that are owned by one or more of the family members. An FLP has at least one general partner who is responsible for...
Whether you are preparing for changes to your family, business operations or estate plan, Schwartzberg Law strives for a smart and cost-effective resolution.
Protect Your Family from Lawsuits with a Domestic Asset Protection Trust
The Domestic Asset Protection Trust A domestic asset protection trust (DAPT) is a legal structure into which you (in your role as the grantor) transfer your accounts and/or property. Once transferred into the DAPT, the DAPT may offer protection from future lawsuits,...
Myths and Frequently Asked Questions Estate Planning for Senior Citizens
Myth #1: If | need help paying my bills, | can just add my child to my bank account. Nothing bad will happen. False. When you add a child or anyone else to your bank account, you are making that person a co-owner of the account. Your child can pay bills using the...
Why a Trust is the Best Option to Avoid Probate
Ideally, when someone passes away, the paperwork and material concerns associated with the deceased's passing are so seamlessly handled (thanks to excellent preparation) that they fade into the background, allowing the family and other loved ones to grieve and...
