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To Have, but Not to Hold? Common Law Marriage and Estate Planning

Posted by Mona O'Connor | Jun 14, 2021 | 0 Comments

Marriage as a legal institution has taken a variety of forms throughout history and how we identify marriage in our society also changes. In some states, a couple may be deemed married without having participated in judicial or religious ceremonies. These marriages are called common law marriages and their existence creates some estate planning issues.

Types of Life Insurance and How They Can Be Used in Estate Planning

Posted by Mona O'Connor | Jun 11, 2021 | 0 Comments

Many of us do not start thinking about life insurance until we get our first full-time job and the company’s human resources representative asks us if we want to enroll in the employer’s group life insurance policy. Although this may be a good start, too few of us spend any more time thinking about that life insurance policy. Insurance can be complex, but you do not have to go it alone. Ask your insurance professional, financial advisor, and estate planning attorney to help you identify the risks that you may be facing that could be reduced by using a carefully crafted insurance policy, coordinated with your estate planning, to meet your unique needs.

Can a Disabled Individual Be an Executor or a Trustee?

Posted by Mona O'Connor | Jun 07, 2021 | 0 Comments

Occasionally, we are asked by clients whether a disabled individual can serve as an Executor, Trustee, or Agent. The short answer is yes! In general, a disabled individual can serve in any of fiduciary role as long as their disability does not materially interfere with their ability to carry out the legal responsibilities and duties imposed on them by law.

Why Unmarried Partners Should Care About Estate Planning

Posted by Mona O'Connor | May 26, 2021 | 0 Comments

More people are entering long-term committed relationships without getting married. Unfortunately, many state & federal laws do not protect unmarried couples when it comes to inheritance, taxes, and decision-making powers. Therefore, it is important that you engage in comprehensive financial and estate planning to ensure your partner doesn't end up with nothing at your death.

What You Need to Know Before Starting a Franchise

Posted by Mona O'Connor | May 23, 2021 | 0 Comments

It has been a tough year for small businesses. Across the country, millions of small businesses have temporarily closed their doors due to the COVID-19 pandemic. Even now, as the pandemic eases and operations begin to pick back up, many small businesses report that they are struggling to fill ope...

What Are the Rights of a Child Born Outside of Marriage?

Posted by Mona O'Connor | May 22, 2021 | 0 Comments

Despite the prevailing view, children born to unmarried parents are commonplace. Historically, children in this category were treated poorly by both society and the law. In many cases, they had no right to inherit from either parent. This legal scheme eventually changed and provided means for the...

Stay Bonus Agreements: What They Are and How to Use Them

Posted by Mona O'Connor | Apr 28, 2021 | 0 Comments

A stay bonus agreement, also referred to as a retention bonus agreement, is a written agreement between a company and a key employee to induce the employee to stay with the company. Understanding the definition and purpose of this type of bonus agreement is critical for both business owners and e...

Estate Tax Returns- Not as Scary as They Sound

Posted by Mona O'Connor | Apr 27, 2021 | 0 Comments

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How to Use Customer Testimonials Legally

Posted by Mona O'Connor | Apr 07, 2021 | 0 Comments

Where do you find a good plumber? Who can recommend a good Italian restaurant? Who is the best divorce attorney in town? Sometimes these answers are found by asking family, friends, and neighbors, but many people find answers to these questions on social media and review sites such as Google, Yel...

What is a Promissory Note and When Should I Use One?

Posted by Mona O'Connor | Mar 31, 2021 | 0 Comments

You have probably heard the term promissory note, but do you understand what a promissory note is and when one can and should be used? A promissory note is simply a written promise to repay someone who has loaned you money. More specifically, it sets forth the terms for repayment of a loan on or ...

What You Should Know About Life Insurance Settlements

Posted by Mona O'Connor | Mar 29, 2021 | 0 Comments

Though many people are familiar with life insurance policies and have a general understanding of how they work, the process of selling a life insurance policy to a third party may be less commonly understood. When an insured party sells a life insurance policy to a third party investor, the trans...

What to Know If Your Deceased Loved One Owned Firearms

Posted by Mona O'Connor | Mar 26, 2021 | 0 Comments

According to the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), from 1986 through 2018, tens of millions of firearms were both manufactured in and imported into the United States.[1] Where are those guns today? They are most likely filling gun safes, closets, nightstands, and desk dra...

How to Talk to Mom and Dad about Creating an Estate Plan

Posted by Mona O'Connor | Mar 19, 2021 | 0 Comments

Conversations about death and dying are rarely fun. Most people avoid them because they invoke feelings about our inevitable demise. Broaching this subject can be particularly difficult for parents and their adult children. And adult children may avoid bringing up the topic because they do not wa...

Handling the Legal Affairs of a Missing Person

Posted by Mona O'Connor | Mar 15, 2021 | 0 Comments

Approximately 600,000 people go missing in the United States each year.[1] The loved ones who are left behind must carry not only heavy emotional burdens but significant practical burdens too. People who go missing often leave behind real estate and personal property, debts and ongoing bills, ins...

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