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When it comes to Estate Planning, it is very important for California residents to understand the Probate system in our state. If you own a home or even a modest portfolio of assets, the Probate costs could cost your family tens of thousands of dollars.
Here’s what clients say about Shoup Legal:
6 Things Every Business Needs.
There are six things that every business owner needs to do when starting their own business.
A Good Business Plan
A good business plan can make or break the success of your business. Your business plan should include:
- A plan for hiring employees
- Your marketing strategy
- A financial investment
- Details concerning your specific products or services
The Proper Business Entity
What business entity will you use? Are you going to do business as a sole proprietor, LLC, or Corporation? There are significant differences, advantages, and disadvantages to each form which need to be carefully explored with good legal counsel.
Appropriate Business Contracts
What business contracts will you be using? The most common business contract utilized is a service agreement that will provide some protect for you and will detail out your services that you will be offering or selling.
Sound Tax Planning Strategy
You’ll want to put this in place with your tax advisor. It can save you a substantial amount of money when its time to file your taxes.
The Required Licensing and Certifications
Obviously, you will want to be fully aware of the requirements by the state of California, your county, and your local city.
Adequate Insurance and/or Bonding
Not having the proper coverage could result in liability that can put you out of business or worse.
Should You Incorporate
Have you ever wondered if your business should be incorporated?
If so, this is the guide for you!
Many new and existing business owners are wondering the same thing. Whether you own an existing business, such as a sole proprietorship or limited liability company, or are just starting out, deciding whether to form your own corporation is a huge decision. This FREE guide will help you to determine if incorporating your business is a smart decision, and why!
- The Steps to Incorporating
- Protection from Liability
- Tax Planning
- Succession Planning
Medi-Cal & Nursing Home Benefits
The time may come that you or a loved one needs the skilled nursing care provided by a specialized facility. For many individuals and families, the cost of a nursing facility can be prohibitive, or quickly drain other resources such as a retirement fund.
The average skilled nursing care facility costs over eight thousand dollars per month!
Medi-Cal does cover the cost of nursing facilities, but only for those who qualify for the program. If you or your loved one fails to qualify for Medi-Cal due to ownership of certain assets, you might benefit from the assistance of an experienced estate planning attorney.
There are a number of misconceptions when it comes to qualifying for Medi-Cal benefits. Some of the more common Medi-Cal “myths” are:
These statements are all FALSE, yet many people commonly believe them to be true. This is why you need to work with an experienced attorney in order to help you qualify for Medi-Cal.
We can help you reposition assets, so that you or a family member can qualify for Medi-Cal benefits. And in some cases, we can help you take additional steps to reduce your share of the cost so that Medi-Cal will completely cover the cost of skilled nursing care in an appropriate facility.
If you have questions on how you or your loved one can qualify for Medi-Cal, while preserving assets within the family, please contact us. We’ll be happy to assist you.
Ready to Avoid Probate?
Begin by watching our Estate Planning Workshop
This recorded workshop is available for download 24/7 and will help you understand the basics of Estate Planning from the comfort of your home! It will likely answer many of your questions, but feel free to contact us directly if you’d prefer to set an appointment.
- Wills and Trusts
- Powers of Attorney
- Advanced Medical Directives
Connect with Shoup Legal Attorneys.
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