Nobody likes to think about dying. But what would happen if you passed away tomorrow? What would happen to your spouse and children? Even if you’re in the prime of your life, you want to make sure your assets are properly allocated to the right people. If you have dependents, investments or a home in Palm Beach County, it’s essential to prepare a last will and testament. You don’t have to be the most organized person in the world. But with a little time and effort, you can make sure your family and assets are properly taken care of. When getting started, you want to take an inventory of all your assets. Over the years, you’ve accumulated investments, retirement savings, insurance policies and business interests. Once you’ve made a complete list of all your assets, prepare another list of beneficiaries and determine which person receives what item. It’s important to be as specific as possible. List the beneficiary’s full name and you’re relationship with that person. Preparing a will may sound relatively easy. But it’s not something you should do on your own. Due to the complex nature of real estate law and tax laws, it’s recommended to get advice from a qualified attorney. You don’t want to risk putting your family’s interests and real estate to chance. This is why it’s important to work with an attorney who understands estate planning and is looking out for your best interests. Drafting a will and last testament usually costs between $250 to $450. But when you consider all the important assets that are hanging in the balance, it’s well worth the money. Unfortunately, many people never take the time to prepare a will for a variety of reasons. Some people are afraid to face their own mortality. Others will put it off and rationalize their behavior by claiming they in the present. But if you don’t prepare this important document, the state can ultimately determine the distribution of your assets. In most states, the estate is divided between the deceased’s spouse in children. Dying without a will can cause unfortunate chaos for your family. A will not only distributes your assets, it can also determine the legal guardians for your children. The last thing anyone wants is to have a bunch of people fighting over who will raise your child. It’s important to be careful who you choose to be the legal guardians. It’s best not to select the same person to be both the legal guardian and trustee. If you have older children who don’t require a trustee, have them seek a financial planner. Putting together a will isn’t something you should take lightly. It takes intricate planning and a knowledge of financial investments, real estate and business interests. The law firm of Haile Shaw & Pfaffenberger, P.A. in North Palm Beach has helped people in Palm Beach County prepare their wills and trusts for 30 years. Your family is important. If you haven’t prepared a will and last testament, call today at (561) 627-8100. ...read more
By Haile, Shaw & Pfaffenberger, P.A. February 11, 2014
Many people in Palm Beach County dream of building their own business. There are few things more satisfying than being your own boss and having control of your professional career. To create a successful company, there are several things every business owner must do. You need to find capital for your company, hire the right employees and determine how you want your business to function. Because most small business owners are often overwhelmed when starting their company, it’s important to have a corporate attorney who understands business law and will look out for your best interests. When most people start their business, they’re mostly concerned about how they’ll make money. Many new business owners fail to realize their company is a legal entity. This involves entering into several binding contracts. It’s essential to hire a business attorney to make sure you’re getting the best advice on how to operate your company. But what should business owners look for when hiring an attorney? You want to hire someone you can trust and has a proven track record for success. In many cases, small-business attorneys are among the most experienced people when it comes to understanding the procedures of operating a company. Whether your company is start-up or a tenured business, a reputable business attorney can protect owners against any legal issues. They can do everything from deciding what business structure is best for your company to creating contracts without loopholes. A good business attorney can help your company prevent legal issues ranging from the IRS to the consumer litigation. A business attorney can do more than just keep your business out of legal problems. They can also be trusted advisors who can provide knowledge on how to grow your company. A business with an experienced corporate attorney is more likely to avoid management mistakes and meet its goals. Many business owners may be hesitant to spend the money on an attorney. But in the long run, it can be one of the wisest investments company can make. Finally, a business attorney can assist owners on everything related to business taxes. They can register the tax identification numbers for your company as well as increase the awareness of tax consequences involved in business transactions. The corporate/business law practice group at Haile Shaw & Pfaffenberger, P.A. in North Palm Beach can assist clients with everything from entity structuring, the sale and purchases of businesses, asset leasing, advice on shareholder and partner concerns as well as legal audits. If you’re a business owner and want to learn how a business attorney can help your company, give them a call today at (561) 627-8100. The hiring of a lawyer is an important decision that should not be based solely upon advertisements. This website is not intended to be an advertisement or solicitation. Material contained in the Haile, Shaw & Pfaffenberger, PA website is for general information only and does not constitute legal advice or solicitation of legal services. Transmission of information from this site is not intended to create, and its receipt does not constitute, an attorney-client relationship between Haile, Shaw&Pfaffenberger, PA and the reader. ...read more
By Haile, Shaw & Pfaffenberger, P.A. January 13, 2014
You’ve worked hard to accumulate your wealth and assets. We all want to leave a great legacy behind for our children. But unfortunately, we’re not going to live forever. It’s important to secure and preserve all your business and real estate interests for the next generation. Organizing a will or trust requires thought and foresight. It doesn’t matter whether you’re a wealthy corporate executive or a person who lives modestly. You need to develop a plan to make sure your assets are distributed the way you intend. An attorney can help you organize the right strategy by developing a will or living trust. One of the most important documents you will sign is a will. It will give you the power to enforce how your assets and property will be distributed from the time of your death. It’s important to understand a will can be amended anytime during your lifetime. Not only can a will erase the headaches over which family member receive what assets, you can also appoint a guardian for your children if they are minors. But what happens if you become disabled or incapacitated? A living trust can provide property management during your lifetime and after your death. If you choose to serve as your own trustee, you can select a successor, who will be given the responsibility to manage your property and assets should you become incapacitated. It’s important to be very detail oriented. The trust will only control the assets you’ve selected. Whatever assets you don’t include in the trust will not be transferred and could end up in probate. Depending on your personal situation, it’s up to you and your attorney to determine whether a will or a living trust is your best option. A trust is more expensive and requires much more work to put together. But it allows you to accomplish other objectives you can’t get in a will. If you’re deciding whether to draft a will or a living trust, it’s important to always keep these factors in mind. • Is probate a viable option? • Do any of your children, grandchildren or other dependents require special needs? • Is your estate subject to taxes? • Do you actively manage your real estate or assets? For 30 years, the law firm of Haile, Shaw&Pfaffenberger; has helped people in throughout Palm Beach County plan and organize the best course of action for the protection, preservation and distribution of family assets. When it comes to important matters, such as your family’s estate, it’s essential to have the expertise of an attorney on yours side. Call today for a consultation. The hiring of a lawyer is an important decision that should not be based solely upon advertisements. This website is not intended to be an advertisement or solicitation. Material contained in the Haile, Shaw&Pfaffenberger, PA website is for general information only and does not constitute legal advice or solicitation of legal services. Transmission of information from this site is not intended to create, and its receipt does not constitute, an attorney-client relationship between Haile, Shaw & Pfaffenberger, PA and the reader. ...read more
By Haile, Shaw & Pfaffenberger, P.A. December 11, 2013
Getting a legal internship can help boost your career by giving you the much needed experience to place on your resume. A job canidate that has just left school but has several intern experiences under his belt will have a better chance getting a new position in a law firm than a job canidate that doe... ...read more
Low income people sometimes have a difficult time receiving legal help. Many do not know they have the opportunity to receive free legal help. Some of these services available to them are by public service charities, volunteer lawyers and law student clinics. People seeking information on these progra... ...read more