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We know how important your business is to you. If you are just starting out with a brilliant business idea and are unsure what the best business structure is for you and your idea to grow, Regan Law Firm will listen to you and your business needs.
A properly written shareholder agreement can safeguard an investor's interest in a company and ensure the independence of the officers in managing the company. A proper balance is crucial.
The type of business structure you choose affects your taxes, your state reporting, your powers, and oftentimes your bottom line. Corporations allow more investors and great liability protection for the shareholders or officers, but require more stringent reporting and possibly unfavorable tax breaks. LLCs do not require as much state reporting and can provide great liability protection for its members, but may limit the number of investors.
Contracts form the backbone of business. They govern sales, rent, services and everything in between. A well written contract can save your business time and money that would have to be spent on a poorly written contract disputed, deemed unenforceable, or taken to court.
No one likes to think about their own death, but the fact of the matter is, we all die. It is all too easy, and all too often the case, that we put off or postpone planning for our death until it is too late. Unfortunately, dying without an Estate Plan today can be extremely expensive, time consuming, and can even result in an estate or family business owing millions of dollars to the IRS, bankrupting the business and leaving nothing to your spouse or children. A solid Estate Plan created now can save your spouse, children, and heirs time in avoiding Probate Court; can ensure that your estate passes to those you love rather than according to the state laws; and can eliminate or reduce taxes, court costs, and legal fees. Most of all it gives you peace of mind knowing your spouse and your children will be taken care of and secure.
Probate is the process by which a Court administers and distributes the estate (property) of a deceased person. Certain property, especially real estate and property that is titled and that has not been placed ina Trust before the owner passes away, must pass through some form of Probate. A Will ensures the Probate Court distributes the property according to the owner’s wishes, while a Trust may avoid Probate completely.
A Trust is an important estate planning tool that can be used to avoid the time and cost of Probate; it allows you to retain complete control over your assets while you are living and specifies how they will be distributed after your passing. Trust are extremely flexible, and can be structured to be as creative as you are, and can ensure a smooth and almost immediate transfer of your assets to your spouse or loved ones without lengthy procedure.
A Will should be the foundation of every estate plan, simple or complex. At its basic function, a Will tells the Court how your property should be distributed, but it can also state how your debts are to be paid and name guardians for your children. A Will used in conjunction with a Trust, often called a Pour Over Will, is a special will that “pours” your assets into your Trust.
The Power of Attorney allows your designated agent to act on your behalf in financial and contractual matters, and can be structured in various ways to meet your needs. Medical Power of Attorney, allows you to choose a designated agent to make healthcare decisions if you are unconscious or otherwise unable to make them yourself. HIPAA Authorization allows your designated agent to view your medical records, which is critical when medical decisions need to be made.
Guardianship is important for children, but it’s also important for the adults. As our population ages and our life expectancy increases, more and more people who suffer from Dementia or Alzhiemers are in need of a guardianship.
A series LLC is a great vehicle for people who buy and sell real estate, or those who buy rental properties. Clients who come to us with real estate in their portfolio usually need LLC protection to protect those assets, and save on cumulative filing fees. Whether you have multiple properties that are a part of your family’s legacy, or you keep property as a form of income, a series LLC might be a smart decision.