A Special Needs Trust (SNT) is also called a Supplemental Needs Trust, they are typically created to provide benefits to elderly, disabled, mentally ill, other individuals who are unable to care for their own financial affairs now or in the future....
Continue reading
A Buy-Sell Agreement is also known as a buyout. A Buy-Sell Agreement defines how a corporate owner or partner’s ownership interest is to be transferred or otherwise liquidated in the event of the owner’s death, incapacity, or departure from the corporation - similar to a prenuptial agreement in a marital arrangement....
Continue readingA Trust created for asset protection will typically be treated as a Spendthrift Trust only if it contains the appropriate language designated for Spendthrift Provisions. This language in the Trust agreement document is called the spendthrift clause or spendthrift provision....
Continue readingGenerally, in an Irrevocable Living Trust, the Trustor (the person who created the Trust) surrenders all control of the assets that are transferred into the Trust. As the name implies, an Irrevocable Living Trust cannot be revoked, terminated, or changed once the Trust has been finalized....
Continue readingA Limited Liability Partnership (LLP) is just as it sounds, a partnership of two or more persons who have limited liability in the partnership. Limited Liability Partnerships provide partners of the LLP the ability to manage the business directly, yet separate the liability of each partner....
Continue readingA Revocable Living Trust is a document that is created by the Trustor (the person who made the Trust) to hold and own all the Trustor's assets, which are used for the benefit of the Trustor by the Trustee(s) of the Trust. The Trustor maintain control of the assets within the Trust....
Continue readingLLC stands for Limited Liability Company. A Limited Liability Company is a very popular type of business entity for small businesses. It provides the personal liability protections and safeguards of a corporation with the tax efficiencies and flexibility of a partnership....
Continue reading
Trusts are created to hold an owner’s assets. Properly structured, a Las Vegas trust will take into account the debts, income, taxes and all the other issues that are addressed in the probate process with a Last Will and Testament....
Continue readingThe formation of business entities in the United States is known as the process of Incorporation, and involves the creation of a Corporation or a corporate entity. A Corporation is a legal entity that is, in effect, recognized under the law as if it were an actual person....
Continue reading