Law Offices of Kevan I. Benkowitz

An estate plan is a collection of legally binding documents that ensures you are in control of what happens to you, your assets and any dependents you may have if you become disabled or when you die. The plan can include a will, power of attorney forms, trusts and more.

An estate plan is the best way to plan for the worst. Here's how to create one | CNN A will, power of attorney and trusts are among the most crucial documents for young adults to draft to ensure they have a say after they die or are critically disabled.

In many personal injury claims, plaintiffs must prove that a defendant was negligent or acted intentionally. But with strict liability claims, this proof is not required. The specific situations when strict liability rules apply vary by state.

Strict Liability: Legal Definition & Examples Strict liability is a legal doctrine that applies to certain crimes, as well as in certain tort cases (claims made to recover compensation after an injury). When strict liability rules apply, defendants can be held responsible for the consequences of their actions regardless of whether they behav

Divorce is never easy, and estate planning can make it all the more challenging. At such an emotional time, more paperwork is probably the last thing you want on your to-do list. But taking a few key steps is critical to your financial future.

How to Change Your Estate Plan During Divorce At such an emotional time, it can be easy to overlook your will and other important documents.

Things can move very quickly when you’re a startup. Decisions often lead to differing opinions, and differing opinions can lead to conflict. Fortunately, conflicts and disputes can be mitigated by drafting a founders’ agreement in the early startup stage.

How to Draft an Effective Founders' Agreement A comprehensive founders' agreement will help all parties stay aligned, fulfill responsibilities and avoid disputes.

Complex strategies and the ever-evolving tax code can make estate planning feel intimidating. However, ignoring it can be a costly mistake for your heirs, even if you don't have a lot of money in the bank.

Estate Planning Tips to Keep Your Money in the Family The prospect of estate planning can seem overwhelming, but don't put it off. Having an estate plan is crucial to ensuring your money and assets go to your intended heirs.

It’s never too early to start thinking about your estate plan: The strategic decisions and investments you make now can increase the capital you’ll have available to finance your retirement years and late-in-life healthcare needs. An attorney can help you decide which estate planning tools make the most sense for your situation.

As the default business formation, sole proprietorships make up the vast majority of small businesses that don’t have employees. Although a sole proprietorship is simpler to form, there are several reasons you’d want to change from a sole proprietorship or form your business as an LLC from the start.

How To Change A Sole Proprietorship To An LLC In 6 Steps As the default business formation, sole proprietorships make up the vast majority of small businesses that don’t have employees (86.6% of non-employers are sole proprietorships). As your small business grows, you may want to change from a sole proprietorship to a limited liability company (LLC). I...

Family members are generally not held responsible for paying off debt of the deceased. The division of an estate’s assets, however, occurs before any allotted inheritance is passed on to heirs. This can, in some cases, lead to family homes or other assets heirs expect to receive being sold to pay debts.

What Happens To Credit Card Debt After You Die? Unfortunately, credit card debt does not simply vanish when we are no longer around to pay the bills. Instead, this debt is considered part of our estate and then managed by an estate executor. For those interested in knowing more about what happens to credit card debt and any accumulated credit car

As you draft charitable planning provisions, it is wise to do so alongside an estate planning attorney who is familiar with your needs. https://bit.ly/3R8EOq6

How To Leave Your Inheritance to an Organization First, make sure the organization accepts donations.

Most contracts end when both parties have fulfilled their contractual obligations, but it's not uncommon for one party to fail to completely fulfill his or her end of the contract agreement. Breach of contract is the most common reason contract disputes are brought to court for resolution. https://bit.ly/2VuF4Gl

What Is a Breach of Contract Lawsuit? Breach of contract is a common contract dispute heard by a court. It's not uncommon for one party to fail to fulfill his end of a contract.

A simple will works for some people, but maybe not for you. If having assets distributed outright to a beneficiary could cause potential problems, there are several reasons to think about creating a trust. https://bit.ly/3KxMOyn

Why Do I Need a Trust? | Kiplinger A simple will works for some people, but maybe not for you. Are you in a second marriage? Have minor children? Concerned about fraud? These are just a few of the many reasons to consider a trust.

Most people prefer to have control over what happens to their belongings when the unthinkable happens. But when there’s no plan in place, the state decides what happens to your assets. https://bit.ly/3wsvnt2

You’re Not Too Young for an Estate Plan: 7 Essentials for Your 20s and 30s | Kiplinger Accidents happen. Illnesses can strike anyone unexpectedly. So, take a moment to get a few basic estate planning tasks out of the way. You — and the people you love — will be glad you did.

A grantor trust is a type of living trust in which the person creating the trust (the grantor) remains the owner of the assets and property in the trust for both income and estate tax purposes. https://bit.ly/3cpZ6vQ

Grantor Trust: What It Is And How The Rules Work | Bankrate This revocable trust has all its income and deductions reported on the owner’s tax return. Learn more about how it works.

Proprietary information is one of the most vital assets of a business, and an effective way to protect it is to have key employees sign non-disclosure agreements. A well-drafted NDA can cover your intellectual property, customer contacts, licenses, contracts and other confidential data. An experienced business attorney can ensure that your NDA is compliant with state law and enforceable.

A new study found under-reporting in the number and severity of bedsores suffered by Medicare residents in specific nursing homes. https://bit.ly/3QVaKxC

Bedsores Can Cause Serious Harm — Are U.S. Nursing Homes Hiding Cases? WEDNESDAY, Aug. 17, 2022 (HealthDay News) -- People might want to think twice before relying on federal quality ratings to help choose a nursing home for an elderly or frail relative, a new study warns.The U.S. Centers for Medicare and Medicaid Services (CMS) established the Nursing Home Compare web...

With a rise in “gray divorces” in recent years, it’s only natural that remarriage has become more prevalent among seniors. But people tend to be lax about updating their estate plan. https://bit.ly/2Hb3Zcp

Getting Remarried? Avoid These 4 Estate-Planning Pitfalls. It’s easy to have an estate plan fall out of date following a remarriage, but the consequences for even unintentional missteps can be devastating, particularly for children from a first marriage or your new spouse.

Adding a living will to your estate plan can mean the difference between your loved ones living with doubts later or knowing they made the right decision for you when you were unable to make end-of-life medical decisions for yourself. https://bit.ly/3K6BHMt

How Does A Living Will Work? How Does A Living Will Work?

With careful planning, attention to detail, evaluation and research, you will be well situated to not just launch a business, but to maintain a successful business as well. https://bit.ly/3A7v34d

How To Start A Small Business At Home (2022 Guide) Starting a business is an exciting venture. Without proper planning, however, it can be easy to get overwhelmed with the process. Launching a business out of your home is similar to starting any other business, with the one exception that you will not need to lease commercial space for your business

Both executors and trustees are equally important to the entities that they represent. They are each also central parts to many people’s estate plans, which is one of the last marks you’ll leave on your family. In turn, make sure your selection process for them is as complete as possible. https://yhoo.it/3iTo5YU

Trustee vs. Executor: What’s the Difference? Estate planning can be difficult. In addition to the fact that it may bring up some uncomfortable feelings – like grappling with one’s mortality – there is also the fact that it can be a complex legal process. There are … Continue reading → The post Trustee vs. Executor: What’s the Diffe...

Major changes in your life—such as marriage, having a baby, moving out of state, or divorce—should prompt a revisit to your current will. https://bit.ly/3hG8TNK

Rewriting Your Will After Divorce Getting divorced? Here are some items you will need to remove or add to your will.

Startups are often so concerned about expenses that they overlook the importance of sound legal advice that could save them thousands, if not millions, down the line. https://bit.ly/3kQeVxt

16 Important Legal Requirements for Starting a Small Business - NerdWallet Use this list of legal requirements for starting a small business—and resolve any lingering issues before you get in too deep with your business.

Should you become incapacitated for any reason, it’s important to make sure there’s someone who can help manage your affairs. https://bit.ly/3SpkZf8

What Is a Power of Attorney Agent (and How Do You Choose One)? If you're aging independently, it's important to have someone you trust in charge of your affairs.

Creating and maintaining a trust can be an important step in estate planning, giving your beneficiaries a clear outline of your needs. https://bit.ly/3Q2ekpF

How To Set Up A Trust Fund | Bankrate You may have heard of a trust fund, but aren’t sure exactly what it is. Here’s what you should know about trust funds and how to set one up.

Confidentiality agreements are incredibly broad legal tools available to almost any entity with privately held information. Due to their potential complexity, it’s always advisable to consult with an experienced attorney when questions arise. https://bit.ly/3BKSzWX

What Is A Confidentiality Agreement? Everything You Need To Know A confidentiality agreement is a contract between two or more parties regulating the treatment of specified private information. While these agreements can exist in a variety of contexts, they are particularly relevant in the world of businesses and nonprofit organizations, where they prove essentia

Many people don’t realize the extent of their electronic and digital lives and the potential problems they’re leaving for others to deal with. https://bit.ly/3PDEAX4

New Estate Planning Rule: Don’t Leave An Electronic Mess Many people don't realize the extent of their electronic and digital lives and the potential problems they're leaving for others to deal with.

Daily exposure to cancer-linked “forever chemicals,” also known as per- and polyfluoroalkyl substances (PFAS), is expected to cost Americans billions of dollars over the current population’s lifetime, a new study has found. https://bit.ly/3J5Il58

Exposure to ‘forever chemicals’ costs Americans billions: study Daily exposure to cancer-linked “forever chemicals” is expected to cost Americans billions of dollars over the current population’s lifetime, a new study has found. The associated increase in medic…

When you enroll in a new 401(k) plan, or move one from a previous employer, you'll be asked to name beneficiaries. These are the people (or entities like a trust or a charity) that would inherit the 401(k) if you pass away. https://bit.ly/3zlVUcq

What Are the 401(k) Beneficiary Rules? You can designate a wide range of heirs to inherit your 401(k). In this guide, we'll explain the rules you need to know.

Before launching your business, you need to answer several important questions: How will you make business decisions together? If you can’t agree, who will make the final call? How will you divide profits? https://bit.ly/3PT4AgU

Starting a Business With a Family Member: 5 Things To Know Avoid disharmony by keeping matters legal and professional.

A marital trust is an irrevocable trust that lets you transfer a deceased spouse’s assets to the surviving spouse without incurring any taxes. Marital trusts are complex estate planning tools and should be crafted carefully. https://bit.ly/3uG8f9G

Guide To Marital Trusts If you’re married, you may be wondering what happens to your assets once you or your spouse passes. The answer to that question depends on various factors, including whether or not you have a marital trust. Marital trusts have multiple benefits for beneficiaries, including asset allocation and ta

If you slip and fall in a store, it's important to report the accident to a manager or employee, even if you don't think you were seriously hurt. The extent of your injuries is not always apparent immediately after an accident, and reporting your fall should produce documentation that could be helpful evidence in the event that you bring a personal injury claim.