The Business Mentoring Center
The Business Mentoring Center

Posts by Stacey Edwards Jones

Five Reasons to Establish a Revocable Trust

Plan for Disability. Unlike a Will, a Revocable Trust allows you to plan for incapacity. This can be especially useful for small business owners. A trust is an effective way to ensure that the grantor’s assets will be used for his or her benefit in the event he or she becomes incapable of managing his…

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Make Estate Settlement Easier for Loved Ones

There are essentially two avenues the estate settlement process can take: through the probate process (if the decedent had a will, or no will, and the decedent’s probate assets totaled $75,000 or more) or through private trust administration (if the decedent had a revocable living trust). LOCATE THE DOCUMENTS If the decedent left a will,…

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Piercing the Corporate Veil

Many small business owners, including farmers, organize and operate their businesses through separate legal entities such as limited liability companies or corporations. Business owners incorporate for a variety of reasons including management, liability protection benefits and self-employment tax savings. But business owners must exercise caution to demonstrate that they, as business owners, and the entity do…

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