Author Archives: Parks & Jones

As its name suggests, a limited liability company (LLC) provides its owners (known as “members”) with limited liability. Across the nation, LLCs are a popular business form for people starting up new businesses. While it’s highly recommended that LLCs have operating agreements, in many states, there’s no legal requirement for an LLC to have an […]

Probate can be a time-consuming process, but depending on the size of the deceased person’s estate, an alternate, more streamlined process might be available for the distribution of the estate’s assets to the deceased’s heirs.  What is Probate? Probate is the process that must be undertaken in order to transfer the rights to a deceased’s […]

If you’ve been looking into doing some estate planning for any particular length of time, you’ve likely discovered how useful trusts can be, especially revocable trusts.  You’ve probably also come across information about irrevocable trusts, with all of their inflexibility and restrictions, and it’s made you wonder why anyone would ever use an irrevocable trust […]

As people become older, there are certain things that require planning now to make sure the road ahead stays smooth. This is particularly so when it comes to your finances or your health care.  For example, while you’re in good health now, there’s no way to predict what might happen when you’re older. Knowing that […]

If you’ve been looking into estate planning for yourself or a family member, chances are good you’ve seen references to avoiding probate. But what exactly does this mean, and is it something you want to do? What is Probate? Probate is the name given to the legal process that must be followed in order to […]

An Employer Identification Number (EIN) is a nine-digit number issued by the Internal Revenue Service (IRS) for tax purposes. Despite the “Employer” in its name, however, EINs aren’t restricted to only those businesses that have employees. This means your LLC might need to apply for an EIN. Whether or not you need an EIN depends […]