Biz Advisor
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Biz Advisor (by WMH [NC]) Feb 8, 2019 6:46 AM
       Biz Advisor (by Deanna [TX]) Feb 8, 2019 7:04 AM
       Biz Advisor (by LindaJ [NY]) Feb 8, 2019 8:42 AM
       Biz Advisor (by Moshe [CA]) Feb 8, 2019 9:01 AM
       Biz Advisor (by Robert J [CA]) Feb 8, 2019 3:54 PM
       Biz Advisor (by Ray-N-Pa [PA]) Feb 10, 2019 12:08 PM
       Biz Advisor (by WMH [NC]) Feb 11, 2019 4:30 AM

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Biz Advisor (by WMH [NC]) Posted on: Feb 8, 2019 6:46 AM

We need a good biz advisor for the nexd step. Someone who understand how to set up a real biz, someone who knows how to do estate trusts and such. NOT our local attorney for sure!

Does such an entity exist? Is there someone you can hire to oversee such things? Not forever, not to run things: to set it up so YOU can runs things better and so your HEIRS will know what to do too.

What would such an advisor be called?

Biz Advisor (by Deanna [TX]) Posted on: Feb 8, 2019 7:04 AM

An attorney who specializes in doing wills/estates/trusts?

Generally, you've got four parts: the creator of the trust; the trust and its assets; the person who controls the trust and its assets; and the people who benefit from the trust and its assets.

So, I would expect an attorney who does trusts to be able to tell you whether any of those can wear multiple hats, and what the rules are. Can the person who creates the trust control it and benefit from it during their lifetime? Does the trust need to be controlled by a third party in order for the creator to also be the beneficiary? etc, etc, etc.

A living trust is set up specifically to allow someone to benefit from it during their lifetime. But the sticky part would be the part that happens in the transition after you're incapacitated or die. But that's what I'd try to look into if it was me.

Biz Advisor (by LindaJ [NY]) Posted on: Feb 8, 2019 8:42 AM

You might need 2 lawyers, one that specializes in setting up business, and one that specials in estate planning (trusts). It might be helpful to have a good accountant to advise on the financial aspects of these as well.

If you have a local business group, they might be able to give you names. They might also be able to put you in touch with a small business adviser.

There are different kinds of trust and you need to decide what your estate planning goals are to know which best suits you.

Biz Advisor (by Moshe [CA]) Posted on: Feb 8, 2019 9:01 AM

American Bar Association recognizes a specialty in Trust Law. If your affairs are more than what can be handled by a simple computer-written trust, you should get someone who is certified as a trust specialist.

The question of who to make as trustee may or may not be this attorney. Generally, TRust Banks do this kind of work, but you can designate your trust attorney to do it, if he is willing and won't take too much of your estate as his fee.

Biz Advisor (by Robert J [CA]) Posted on: Feb 8, 2019 3:54 PM

For my Family Trust I have a "Probate and Estate Attorney" help me. For a business venture or partnership I use an attorney that specializes in Business Law, Corporate Law and Partnerships. For things dealing with my wife and kids, I have a good divorce attorney who also does Family Practice.

My first wife to be she wanted to ensure if we broke up she could choose either the property in Beverly Hills or Hancock Park. Instead we offered Boyle Heights, Korea Town, Hollywood or Canoga Park. She ran for the hills, no free rides. --47.156.xx.xx

Biz Advisor (by Ray-N-Pa [PA]) Posted on: Feb 10, 2019 12:08 PM

What is the best way for me to email you an outline WMH?

Biz Advisor (by WMH [NC]) Posted on: Feb 11, 2019 4:30 AM

RayNPa, Please! I can't get passed the censors but I have a throwaway email hshobx which uses the g mail. I rarely check it so let me know here you sent it. THANK YOU!

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