Showing posts from April, 2017

Estate Planning Prep: 3 Factors To Consider

If you've kept up with our blog, you know that we spend a great deal of time talking about the importance of organizing your affairs so that all will transition smoothly to your heirs after you pass. Without a proper estate plan in order, your assets may be tied up in probate for months - or potentially even years - before they can be distributed to your heirs.

At O'Donnell Law Center, a significant portion of our practice is dedicated to helping our clients with their estate planning needs. If you are preparing to begin the estate planning process, our Lake of the Ozarks estate planning attorney is here to help. Here are a few factors we advise you to consider before preparing your estate plan.

1. Who Shall Receive Guardianship Of Your Children?

If you have children, this is the most important - and possibly the most challenging - decision you will have to make during the estate planning process. It is essential that you nominate someone to care of your children in the event tha…

When To Consider Updating Your Estate Plan

Life is a long, winding journey. There are several stops you must make along the way and several tasks that will require attention at some point. Some things cannot be addressed only once - they must be readdressed periodically to ensure that they are still relevant and up-to-date. Estate planning is one such task.

An effective estate plan is designed to meet your specific needs by reflecting your current position in life. Since your position will likely change at least once (and potentially several times) as you age, it is important to consider updating your estate plan to reflect your current position and needs. O'Donnell Law Center is here to help you keep your estate plan up-to-date by discussing a few situations when it may be wise to update your estate plan.

Getting Married Or Divorced

Marriage and/or divorce are major milestones in one's life. Whether you are creating a marital union or dissolving one, your life will be drastically different once the process is complete. S…

Estate Planning Made Easy: 3 Simple Steps

Because it requires you to think critically about end-of-life decisions, estate planning often seems like a daunting prospect. None of us want to think about our eventual deaths. Unfortunately, none of us will live forever - it is important that we organize our affairs and build estate plans to ensure that our wishes will be met once we are no longer present.

At our Lake of the Ozarks law firm, we dedicate a significant portion of our practice to estate planning. In order to easily guide our clients through their end-of-life decisions, we have condensed the process into three simple but comprehensive steps. Here is a quick overview of how we handle estate planning at the Lake of the Ozarks.

Step 1:  Initial Meeting

The first step is to meet with you to discuss your end-of-life wishes. We will ask various questions and guide you through certain topics to help you decide how and to whom you would like your assets to be distributed upon your passing. Some of the topics you will need to cons…

What Type Of Business Entity Is Right For You? 4 Questions To Ask Yourself

As an aspiring entrepreneur, hundreds of decisions lie ahead of you. Where should your business be located? What type of loan will you need to secure in order to obtain proper funding? Will you need to hire employees? If so, how/when will you conduct the hiring process? How do you want to setup your office space? The list goes on and on.

One of the questions you will need to answer relatively early on in the process is how you want to structure your business. There are multiple business formats to choose from - limited liability company, sole proprietorship, partnership, corporation, and more.

Our Lake of the Ozarks business attorney is here to help you determine which business entity may be best for your specific situation. Asking yourself these questions can get you started in the right direction.

Question #1: What Resources Am I Able To Dedicate To Setup And Ongoing Administration Costs?
Depending on the type of business entity you select, you may be faced with rather steep setup costs…