Charitable planning is a broad designation that refers to an entity’s strategic approach to charitable giving. Charitable planning is typically designed to accomplish two things: the efficacy of the donor’s charitable values and the financial benefits that the donor experiences upon practicing those values. From extended trusts to large, one time donations, charitable planning constitutes a variety of gift-giving vehicles.

To arrive at the charitable plan that meets your charitable and financial goals, you should consult with an attorney who has experience in charitable planning. After considering your charitable goal in relation to your current and foreseeable finances, your attorney will help you decide on the charitable plan that best meets your charitable and financial goals.

Non-Profit Formations

In the U.S., nonprofit organizations form by incorporating within the state where they plan to do business. Upon incorporating, a non-profit organization can legally enter into business dealings and property ownership just as for-profit corporations can. The basic difference between a nonprofit and a for-profit corporation is that the former does not issue stock, pay dividends or enrich its board of directors.

There are two basic types of nonprofit organization structure: membership and board-only. Under membership organization, the organization’s members elect a board of directors and retain the power to amend bylaws, while a board-only organization consists of a self-selected board of directors that delegate power to the organization’s members. As with charitable planning, choosing the right organization structure for your non-profit should involve the opinion of an experienced attorney.

Due to the special needs of the beneficiary, a legal guardian, regardless of the beneficiary’s age, usually oversees a special needs trust. Guardians may be either family members or trustees appointed by the Court, and their degree of power over the trust usually depends on the mental ability of the beneficiary. Second to the wording of a special needs trust, establishing responsible guardianship is the most important legal aspect of ensuring that a beneficiary receives his or her benefits as stated by the trust.

A special needs trust serves in two basic capacities: It provides benefits to the  beneficiary and it protects the beneficiary’s assets. To form a special needs trust for your loved one or to establish responsible guardianship over an already existing trust, you should consult with an experienced estate attorney. After reviewing your case, your attorney will advise you on the solution that best meets the beneficiary’s needs.

• Ensure that your beneficiaries receive their inheritance.
• Reduce or eliminate the expenses associated with the transfer of property.
• Ensure that others are not able to interfere with your estate decisions.

Simple estate and financial planning usually involves the presence of wills, living trusts and powers of attorney for an estate that is worth less than $1 million. However, estates worth more than $1 million face taxes that could significantly diminish their value and therefore require “complex” estate and financial planning. For example, the federal government collects gift taxes on estates of $1 million or more, with married couples whose estates are worth more than $4 million sometimes losing as much as 46% percent of their estate’s value to estate taxes.

Whether your estate is small, medium sized or large, estate planning can ensure that your beneficiaries receive significantly more from your estate than they would if you failed to take planning measures. Presenting your estate situation to an experienced estate attorney is the best way to ensure that your estate plans are financially viable and constitute the best interest of your beneficiaries.

Auto insurance
When an accident is your fault, consummate auto insurance can keep you from digging into your estate to pay for the other party’s vehicular and health related damages.

Homeowner’s Insurance
Whether your home suffers expensive damage or someone is seriously injured while in your home, consummate homeowner’s insurance can satisfy the damages.

Umbrella Insurance
An umbrella insurance policy offers liability coverage that acts as a catchall for damages that are not covered by other policies.

While insurance is an excellent way to protect your assets, it is wise to make your estate protection as strong as possible by combining insurance with investment strategies. Three effective investment strategies for protecting your estate are:

1. Irrevocable Trusts
An irrevocabletrust cannot be altered after it isset up without the beneficiary’sconsent. The primary benefit ofirrevocable trusts are that they allow you to givemoney andassets away before you die.

2. Family Limited Partnerships
Family limited partnerships allow you to place assets in a limited partnership that is comprised of you and your family members. The partnership establishes you as a limited partner, meaning that a creditor cannot seize the partnership’s assets from you, the limited partner.

3. Forming a Limited Liability Company
When you serve as the manager of a limited liability company, creditors can rarely claim the assets that you have placed in the company.

Deciding on the best insurance and investment protection for your estate involves examining your situation from both personal and financial perspective. By contacting an experienced estate attorney, you can determine what set of plans best meet the needs of your estate.

A simple trust is defined as a trust that must distribute all of its current income while distributing no principal. A complex trust, on the other hand, is defined as a trust that is not compelled to distribute any of its income and may distribute its principle. Simple trusts are commonly set up by a parents or other family members to provide for a child’s future financial well-being, while complex trusts are often set up for a specific purpose, such as to pay for a child’s education.

If you are considering making a trust a part of your estate, consulting with an experienced estate attorney can help you decide on which kind of trust is right for you and your beneficiaries.

• The significant reduction of an estate’s value due to court costs and taxes
• Family disputes that permanently damage familial relations
• A lack of long-term provisions for minor children

Whether your estate requires a simple will or a complex will, it is wise to contact an experienced estate attorney and begin forming your will as soon as possible. Life, as the old saying goes, has no guarantees. But forming a will can insure that it does.

• The provide a market for minority interests
• They can simplify estate planning
• They can help resolve disputes among owners by establishing valuation of business interests
• They can serve as a basis for valuing business interests during divorce

Buy-sell agreements come in three basic types: redemption, cross-purchase, and hybrid. A redemption agreement is when the business itself buys out an exiting owner’s share. A cross-purchase agreement is when the business’s co-owners buy out an exiting owner’s share. A hybrid agreement is a combination of a redemption and a cross-purchase agreement, establishing either redemption or cross-purchase as the secondary method of transaction.
To determine which buy/sell agreement is right for your family business, you should contact an experienced business attorney. After examining your business situation, your attorney will advise you on which type of agreement best suits your needs.

1. The debtor must be a consumer.
2. The debt must be a consumer debt, as opposed to business debt.
3. A debt collector must pursue the debt.
4. The collection action must violate the FDCPA or similar state laws.

As a strict liability statute, the FDCPA requires that violators pay a $1,000 fine to the debtor as well as the debtor’s attorneys’ fees. There are a variety of situations that qualify as FDCPA violations. Some of the most common include:

• Telephone harassment that intentionally inflicts emotional distress.
• Telephone harassment that negligently inflicts emotional distress.
• Malicious prosecution where the debtor is sued to induce stress.

Being in debt can be stressful, and unscrupulous debt collectors attempt to prey on people’s stress to motivate them to pay a debt. If you feel that you have been or are being harassed by a debt buyer or a debt collection agency, contacting an attorney who has experience upholding the FDCPA or similar state laws is the best way to stop the harassment and hold the violators legally responsible.

Hiring a debt collection agency is more financially sensible than selling your uncollected debt to a debt buyer, especially when you do not have to recover money instantly. But when a collection agency fails to resolve your case within a reasonable period of time, it is best to let an experienced debt collection attorney handle your case. In fact, hiring an attorney in the first place can save you from the pitfall of paying a debt collection agency and then turning to an attorney when the agency fails to deliver. An experienced debt collection attorney will work to resolve your case by employing legal debt collection techniques that include:

• Applying a judgment lien to the debtor’s property that will satisfy the debt when the property is sold.
• Employing an execution and levy that will satisfy the debt by effecting the seizure and sale of the debtor’s property.
• Winning a wage garnishment against the debtor that will result in a percentage of the debtor’s earnings being paid towards the satisfaction of the debt.

Debt collection is typically portrayed as a vexation to debtors, but no creditor enjoys having to take debt collection measures. Yet, debt collection is sometimes the only way to receive the money that you both need and deserve. Hiring an experienced debt collection attorney will ensure that both your claim and the debtor are treated professionally.

1. Judgment Lien

A lien is defined as a security, charge or encumbrance on a piece of property. Your attorney can apply a lien to both the real and personal property of the debtor. When property that contains a lien is sold, it is either sold subject to the lien or a portion of the sale proceeds are used to satisfy the lien.

2. Execution and Levy

Execution of a monetary judgment is obtained by legally enforcing the judgment through the seizure and sale of the debtor’s property.

3. Wage Garnishment

Wage garnishment satisfies a monetary judgment by directing the debtor’s employer to pay a portion of the debtor’s wages directly to you.

As the owner of a judgment, you also have the right to sell your judgment to a professional judgment collector. However, the sale of judgments is always designed to benefit judgment collectors. While getting something out of your judgment is better than getting nothing, your chances of satisfying the judgment in full are highest when you hire an attorney who can navigate the legal complexities of the collection process.