A Look Into Advanced Estate Planning And Its Advantages

Advanced estate planning is needed for individuals with largeestates that may generate estate or inheritance taxes at the state or federal level. Advanced estate planning can protect assets and perpetuate family values for the welfare of future generations.

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Estate and inheritance taxes can be reduced by gifting assets like highly appreciated stock straight to loved ones, or a charity, or into a trust for their welfare, or gifting away interests in closely held business entities like limited liability companies or corporations. By doing so, the value of the owner’s estate is reduced. When the assets or business interests are gifted properly to the beneficiaries or into a trust directly from the owner, the assets can no longer be counted in the value of the owner’s estate and used in the computation of estate tax. An experienced legal advisor can assist you in tailoring a plan suited to your family.

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Dan DeKoter is an “AV” rated lawyer, the highest rating given by the premier peer review service as seen at lawyers.com. He has litigated multi-million dollar lawsuits for both plaintiffs and defendants. Visit his firm’s website to know more about his practice areas.

Family And Asset Protection: Reasons To Have An Estate Plan

Most people plan their vacations and their dinner reservations better than the inheritance of their estate. While this latter task isn’t as fun as planning a trip for the family, estate planning should receive more attention.

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Estate planning isn’t limited to the rich. The absence of an estate plan, even in the absence of farm land, shares of stock, an expensive home, a large investment account, or valuable pieces to hand down, means that the state will provide a plan for you. This may or may not be what you want.

A common estate plan involves a living trust is a legal document that a person creates with the assistance of an attorney. In this document, a person appoints one or more trustee(s) and a beneficiary. It’s usual for the person who creates a living trust to be its trustee and beneficiary. Yet in some cases, they might choose to appoint a person or an institution to be the trustee.

A person appoints a successor trustee to take over in the occurrence of death or incapacity; a person also designates the heirs. The trust should include a provision allowing for its amendment or revocation at any time. This affords the peace of mind of having planned the designation of assets to heirs without probate.

If a person desires for their loved ones and their assets to be protected in the event of death or incapacity, an estate plan is definitely needed. Without it, those who will inherit the assets might be faced with large tax burdens, and the courts could designate how the assets will be divided.

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Dan DeKoter is an “AV” rated lawyer, the highest rating given by the premier peer review service as seen at lawyers.com. He has litigated multi-million dollar lawsuits for both plaintiffs and defendants. Visit his firm’s website for more on his practice areas.

Here’s What To Expect If You Sue Your Employer

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Suing an employer can be a long, arduous process, but legal action is sometimes necessary. Here are some things to expect in pursuing legal action against an employer:

Know when a lawsuit is appropriate Lawsuits are best saved for the most egregious acts.These include acts of discrimination based on gender, race, sex, ethnicity, religion, or disability; harassment in all forms; wrongful termination; and workplace injury, such as those not covered under workers’ compensation.

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Litigation is long, drawn-out, and stressful Lawsuits are stressful and disruptive for companies but they are considered a cost of doing business, so expect that it will be more stressful and painful for you as the complainant. Consider it an act of war.

Your life may come under scrutiny A lawyer will include a claim for emotional distress in the lawsuit, and this means putting one’s own emotional condition at issue while the employer keeps the right to find out how much of that emotional distress was caused by other factors. Expect that past employment and medical records, too, will be dug up.

Attorney Dan DeKoter earned his Juris Doctoratefrom the University of Iowa in 1980. His general practice focuses on civil litigation, including personal injuries, business disputes, and insurance defense; business and employment law, and estate and planning administration. Learn more on this page.

Tips In Choosing a Lawyer For Your Business

Every business, no matter the size or industry, needs solid legal representation. A lawyer will play a key role in corporate formation, contracts, employee policies, and other matters. But how does an entrepreneur determine who to invite into the fold?

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Hiring a business or corporate attorney can be a daunting process, especially for first-time entrepreneurs. Here are some tips for landing the right person and achieving a mutually beneficial long-term relationship: 

What is the type of lawyer you need? 

It’s important to consider the individual entrepreneur’s specific needs. For general legal counsel, a business attorney is a good option and can connect with specialists whenever needed. 

Ask questions during initial consultation. 

These questions are just some that will reveal if the attorney is a good fit for the company. How many years have you been practicing? Who is your typical client, and are they like me? What are the types of fee arrangements, and how often will my bills be due? Will you be my primary point of contact? 

Big or small firm? 

Generally, the larger the firm, the greater the overhead, which means that the business owner will be expected to pay higher hourly rates. . Startups may not be a high-priority for larger players. 

Find someone who understands your niche or market. He or she should have familiarity with your industry, how your business operates, and how you see yourself growing in the future.

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Dan DeKoter is a practicing lawyer and a partner at DeKoter, Thole, Dawson & Rockman, PLC. Learn more about legal matters on this page.

Adoption In The United States: Facts And Figures

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What many people fail to consider about adoption is that it is a long, legal, and expensive process. They discover this when they find a family law attorney to brief them on the matter. But no matter how complicated it is, thousands of couples find that the effort is well worth it. Here are some facts and figures on adoption in the United States.

·In a survey conducted by the U.S. government, one out of every 25 families with children have an adopted child. Around 85-90% of the families who have adopted children have done so with the help of a family law lawyer.

·Around 40% of children who are adopted are part of the U.S. foster care system. This system is the most common process, and many say is also the simplest.

·Around 15% of children who are adopted come from a different country. Intercountry adoption is much more complex way of adoption and would require a lawyer to handle all the legal matters.

·A little under 120,000 kids are part of the foster care system. They are all waiting to be adopted.

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·The average age of a child up for adoption is 7.5 years.

·Not all adoption agencies are legitimate. Couples are highly cautioned and recommended to pursue background checks on the agencies. Adoption lawyers would be a great help with this.

Dan DeKoter is an attorney based in Dickinson, Iowa. One of his firm’s areas of expertise is family law and adoption. For more about family law, visit this website.