• JLGI | Washington Wills, Estates and Trusts, Civil and General Litigation and Commercial and Business Transactions | Page 3

    Estate Planning and Your Digital Accounts

    What happens to your Gmail  account when you die? What about your Facebook page or your Twitter account?

    Well, it’s not clear. A few states have enacted legislation to give executors and personal representatives the power to access the digital accounts of the deceased, while most states rely merely on the privacy policies of the service providers, such as Google, or Twitter or whatever company hosts the account. Click on this link to see where your state falls with respect to this issue: https://www.everplans.com/tools-and-resources/state-by-state-digital-estate-planning-laws.

    The current lack of legal clarity can cause huge disruption and frustration in peoples’ lives, as is evident in this story from the Columbus Dispatch: http://www.dispatch.com/content/stories/business/2014/08/03/access-to-online-accounts-of-deceased-not-a-given.html.

    What all this means is that when doing your estate planning, it is vitally important these days to make arrangements for your digital accounts, just as you do for your financial accounts.

     

    Fourteen Steps for a New LLC

    Fourteen Steps for a New LLC

    • Obtain an employer identification number from the IRS and open a bank account.
    • Determine how the LLC will be taxed. The IRS has a “Check the Box” procedure for declaring how an entity will be taxed.
    • Determine which assets and liabilities are to be turned over to the LLC.
    • Register with the local tax authority.
    • Establish a Worker’s Compensation account.
    • Obtain a business license, if required by the local jurisdiction.
    • Register with the local unemployment authority.
    • Create employment agreements with any employees.
    • Procure insurance for property and for individual liability of managers and owners.
    • Develop a strategy for developing accident and health insurance plans, wage continuation plans, medical reimbursement plans, group term life insurance plans, death benefit plans or pension and profit-sharing plans.
    • Learn when the LLC is required to file reports with the local jurisdiction.
    • Determine whether operations outside the LLC’s local jurisdiction will require registration in those jurisdictions.
    • Review the LLC’s operating agreement at least annually to ensure that it continues to serve the LLC’s needs.
    • Maintain open and regular communications with your accountant and lawyer.

    This is not an exhaustive list, but is a start to creating a business framework necessary for success…

    Estate Planning

    Estate planning is not just for the elderly, and Johnson Law Group is expert in estate planning and administration. We counsel our clients on a wide range of estate issues, including wills, trusts, special needs trusts, guardianships, conservatorships, powers of attorney, estate tax issues, among others.  Every adult should have an estate plan specifying what should happen to their property when they die; otherwise, the government will decide for him or her. While most people prefer not to think too far ahead, debilitating illness and death is a reality that is, for most of us, unplanned. It is much better, and far more helpful for family and friends, to plan ahead rather than to rely on your local government to distribute your assets according to its laws, as opposed to your needs. Johnson Law Group recommends that every adult should execute a testamentary document (either a trust or a will or both); an advance healthcare directive (“living will”); and a durable power of attorney. The cost of establishing such an estate plan is nominal, and the process is uncomplicated. By taking this step, Johnson Law Group clients are comforted by the knowledge that should the worst happen, their loved ones will be taken care of in a thoughtful and expedient manner. Call our offices to set up a free initial consultation.

    Cielo Mendoza

    We are pleased to welcome attorney Cielo Mendoza to our practice. Ms. Mendoza is a 2005 graduate of Vermont Law School and a member of the Vermont Bar since 2006. She also is a member of the New Jersey and Pennsylvania Bars. Working out of our Burlington, VT office, Ms. Mendoza will work on transactional and general litigation issues for our individual and business clients. Ms. Mendoza lives in northern Vermont, is married and has two children.

    May 2024
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