News & Resources
You shouldn’t amend a will yourself
Let’s assume you have a legally valid will but you’ve decided that it should be revised because of a change in your family’s circumstances. Perhaps all you want to do is add a newborn grandchild to the list of beneficiaries or remove your adult child’s spouse after a divorce. These are both common reasons to […]
When is it Time to Franchise My Concept?
A common question from early-stage restaurant companies is this: “When is the right time to franchise?” There is no set answer to this question, but many concepts franchise before their time and before they have some of the fundamentals worked out. It’s not enough to have a great concept that people express initial interest in […]
When little things mean a lot: Estate planning for personal property
Personal items — which may have modest monetary value but significant sentimental value — may be more difficult to address in an estate plan than big-ticket items. Squabbling over these items may lead to emotionally charged disputes and even litigation. In some cases, the legal fees and court costs can eclipse the monetary value of […]
Estates now have an additional three years to file for a portability election
Portability allows a surviving spouse to apply a deceased spouse’s unused federal gift and estate tax exemption amount toward his or her own transfers during life or at death. To secure these benefits, however, the deceased spouse’s executor must have made a portability election on a timely filed estate tax return (Form 706). The return […]
MMB Welcomes New Associate Monica Pelkey
Monroe Moxness Berg is pleased to announce that Monica Pelkey has joined the firm as an associate attorney in our Real Estate Group. Monica focuses her practice on commercial and residential real estate transactions. She advises clients on real estate matters including the acquisition, development, sale and leasing of local and national properties. Prior to […]
Add estate planning flexibility with a power of appointment
The best laid plans can go awry. After your death, events may transpire that you hadn’t anticipated or couldn’t have reasonably foreseen. There’s no way of predicting the future, but you may want to supplement your existing estate plan with a trust provision that gives a designated beneficiary a “power of appointment” over some or […]
Some Thoughts About Legal Structure
I am often asked what is the best legal structure for a multiunit operator. The answer can vary in a number of ways, especially if you have more than one concept which can necessitate a specific structure. Normally if it’s a franchise, the franchisor requires its concept be in its own entity. The structure may […]
A living will can help ensure your last medical wishes are carried out
According to a University of Pennsylvania report, approximately 37% of Americans have “advance directives,” which include living wills and power-of-attorney designations. These documents specify what should occur and who should make medical decisions should someone become seriously ill and unable to make these decisions for him- or herself. If you belong to the other 63% […]
Addressing adopted children or stepchildren in your estate plan
Families that have children who are adopted, or stepchildren who haven’t been legally adopted, may face unique estate planning challenges. Additional consideration must be taken when a family includes an unmarried couple in a long-term relationship and one person has biological or adopted children. If your family’s makeup is as such, it’s important to understand […]
The HSA: A healthy supplement to your wealth-building regimen
A Health Savings Account (HSA) can be a powerful tool for financing health care expenses while supplementing your other retirement savings vehicles. And it offers estate planning benefits to boot. ABCs of an HSA Similar to a traditional IRA or 401(k) plan, an HSA is a tax-advantaged savings account funded with pretax dollars. Funds can […]
Are you and your spouse considering “splitting” gifts?
Gift splitting can be a valuable estate planning tool, allowing you and your spouse to maximize the amount of wealth you can transfer tax-free. But in some cases, it can have undesirable consequences, so be sure that you understand the implications before making an election to split gifts. Gifts of separate property Gift splitting is […]
MMB Welcomes New Associate James McGibbon
Monroe Moxness Berg is pleased to announce that James “Jim” McGibbon has joined the firm as an associate attorney in our Corporate Group. Jim is a transactional attorney with a wealth of experience in mergers and acquisitions, material healthcare contracts, healthcare compliance issues, corporate governance issues and Chapter 11 corporate restructurings. Jim joins MMB […]