Sometimes business owners must make a decision: should they sell the business or shut it down entirely? Whether you’re making this tough choice because of economic hardship or because you’ve decided to focus your energy on bigger and better things, if you choose to close your business, this blog post will offer some pointers for […]
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Five Times in Your Life When You Need to Update Your Estate Plan
You’ve accomplished a lot in your life. You’ve worked hard to build your assets and care for your family over the years. At Pence Law Firm, P.C., we believe that estate planning is the best way to protect all that you have worked so hard to build. We also understand that circumstances change. That’s why […]
Read MorePlanning for the Future with a Durable Power of Attorney
Have you ever wondered what would happen if you were incapacitated and could no longer make coherent decisions regarding things like your finances and your healthcare? This concern is on the minds of many, and luckily there’s an estate planning tool that can help you. By creating a durable power of attorney, you can rest […]
Read MoreThree Lesser Known Trusts You Should Consider
Trusts are an excellent — and very versatile — estate planning tool. They create a contract between three parties: a grantor, a beneficiary, and a trustee. The grantor is the person who creates the trust, and whose assets go into it. The beneficiary is the person who will benefit from the assets. The trustee is […]
Read MoreWhat Every Family Needs to Build Their Estate Plan
Creating an estate plan is one of the most important things you can do to preserve your wealth for the future. However, many people assume that having a plan is a simple matter of drafting a Will or Trust that transfers all assets seamlessly to beneficiaries after their death. In reality, an effective estate plan […]
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