What is estate planning? 
Estate planning is managing the accumulation and disposition of an estate. Most often, the intent of estate planning is to minimize taxes and maximize the transfer of wealth to the intended beneficiary. Wills, trusts, powers of appointment, powers of attorney, health care proxies, and living wills can all be used in planning your estate. Business Law
Respected lawyer for businesses and non-profits in New York
Starting a business is probably one of the most momentous initiatives you will ever undertake. Keeping your business running profitably and legally is an ongoing challenge. There are many legal issues such as taxes, licensing, and employee regulations that can have a significant impact on your company’s success. Though the "rules" are somewhat different, setting up and operating a non-profit organization can be just as complicated.
Business formation
There are laws defining the different types of business entities you can form, including—
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Each type of business has different tax structures and legal implications. It is important for you to consult a knowledgeable business attorney to help you get started in a business that will be sustainable over the long run. The Queens & Brooklyn attorneys at A. Lunard Odom Law Firm, P.C. explore your specific requirements and objectives to help you determine which structure is the most beneficial for your situation.
Business succession planning
The succession of a family business—how it is transferred to other family members or to unrelated third parties or employees—is obviously vital to the continuing life of that business. There are many factors to take into account, including—
- Ongoing financial needs of the owner and the owner's spouse
- Family dynamics
- Continued successful operation and management of the business
- Critical estate planning tax issues
- A variety of tax implications
If the business is sold, the owner experiences a significant liquidity event, resulting in major income tax issues. On the other hand, if the owner makes bequests or gifts of interests to children or other family members, those actions trigger federal estate and gift tax issues. The A. Lunard Odom, Law Firm, P.C. can help plan the succession of your business to minimize the tax impact and provide the best value to all the parties involved.
Churches and non-profit organizations
Not-for-profit groups—whether churches or other beneficial organizations—are the bedrock of our communities. One aim of our law firm is to help form groups and build organizations to serve their communities as efficiently as possible. We can help you with the detailed legal requirements affecting your non-profit organization, including—
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Experienced and caring legal assistance
Contact us online or call 1(866) 570-9638 for legal help in setting up and operating your business or non-profit organization.
