Estate planning is the process of organizing and
distributing your assets after your death. There are two common tools used to create an estate plan:
wills and trusts.
A will is a legal document that outlines your wishes for the distribution
of your assets after your death. It can also appoint a guardian for any minor children or dependents you
may have.
A trust is a legal arrangement that allows you to manage your assets while you are
alive and distribute them after your death. Trusts can also be used to avoid probate, protect your
privacy, and protect your assets from creditors.
It is important to consult with an attorney
to create an estate plan that meets your specific needs.
It is important to have a copy of your advance directives available to your
doctors and loved ones in case of a hospitalization. This will ensure that they know your wishes
regarding your medical care. Advance directives can be difficult to keep track of, and it is not always
possible to have them with you at all times. This can lead to stress and frustration for your loved ones
if they need to find them in an emergency.
The Marcus R Rhodes Law Firm, PLLC offers a
complimentary DocuBank membership to clients who complete their estate plan. DocuBank is a secure online
document storage service that allows you to store your advance directives and other important documents
in one place. Your family and doctors can access your documents through DocuBank 24/7, even if you are
hospitalized.
This service can help to reduce stress and uncertainty for your loved ones
during a difficult time. If you are interested in learning more about advance directives or DocuBank,
please contact the Marcus R Rhodes Law Firm, PLLC.
Carry Your
Documents With You
With your DocuBank Emergency Card, you can carry your
advance directives with you at all times. Simply keep the card in your wallet and your documents will be
accessible to you, your loved ones, or hospital staff 24 hours a day. Your card allows you to request a
copy of your documents by fax or the internet. That means that your loved ones will know your wishes and
won’t have to argue over who should make decisions and what you’d want.
When starting a business, it's important to consider how you'll
structure it. The structure you choose can have a big impact on your personal liability, as well as the
liability of your business.
There are several different types of business structures, each
with its own advantages and disadvantages. Some of the most common types of business structures include
sole proprietorships, partnerships, limited liability companies (LLCs), and corporations.
If you're not sure which business structure is right for you, it's a good idea to consult with an attorney. An attorney can help you choose the right structure for your business and ensure that you're properly protected.
At the Marcus R Rhodes Law Firm, PLLC, we can help businesses and individuals understand and comply with tax laws and regulations, provide tax planning advice, and develop strategies to minimize tax liabilities and optimize tax benefits.
We advise individuals and families on estate plans, including wills, trusts, and other vehicles to minimize tax liability and maximize the value of estates.
At the Marcus R Rhodes Law Firm, PLLC, we provide tax advice on business transactions, structuring partnerships and other entities, and drafting executive compensation agreements.
