Most Recent Attorney’s Blog Posts

  • Creative Planning Options with a Revocable Living Trust
    Estate planning is something most know they should do, but most American adults simply haven’t gotten it done.  In a survey available from AARP,  60% of American adults do not have an estate plan.  The number gets even higher for some minority populations.  In most cases, this is simply due to procrastination that “I just haven’t gotten around to it.”  Many people that I speak to as a lawyer simply don’t understand the consequences of passing away without an estate plan. One of the primary reasons for a Trust is to avoid probate, which is a court supervised process ... read more
    Source: KKOSLawyersPublished on 2017-10-17By Lee Chen
  • Simple is Sexy: Maximize Retirement Contributions for Tax, Asset Protection, and Estate Planning Benefits
    Many clients appreciate our ability to see the big picture.  For example, when it comes to asset protection, estate planning, and tax planning, none of these practice areas happen in a vacuum, meaning the methods and tools used for asset protection will almost always affect and impact your estate plan and/or tax plan, for good and for bad, and vice versa.  These areas should be coordinated together.  While a lot of clients appreciate that, they often times overlook or fail to maximize the full benefits that come with funding and investing with a retirement account because it just doesn’t ... read more
    Source: KKOSLawyersPublished on 2017-09-25By Kevin Kennedy
  • Getting Married? You’ll Need a Caterer, a Photographer, a DJ … and a Lawyer!
    The process of getting married can be one of the most wonderful, exciting … and stressful periods in a person’s life.  There’s so much to plan for and do (and so many people to impress) that it can be hard to focus on what’s really important – the fact that you are making a commitment to love, honor and cherish the person who is (hopefully) the love of your life. In the midst of deciding what flavor of cake to have and who will make the cut in terms of getting an invitation, please don’t overlook the fact that ... read more
    Source: KKOSLawyersPublished on 2017-09-12By Jarom Bergeson
  • Essential Tax & Legal Tips for the NEW Business Owner
    Starting a business is a process.  It is MUCH more than filing the one or two page articles/certificate of formation with the state.  At the same time, it doesn’t have to be so complicated and overwhelming that you never start.   Further, not only is starting a business a process, it’s a process that is unique to YOU.  It is not a cookie-cutter one size fits all proposition.  What your business and YOUR situation require may be completely different than anyone else you might know who is self-employed.  Having said that, here are ten tips that apply to all businesses, but ... read more
    Source: KKOSLawyersPublished on 2017-08-28By Kevin Kennedy
  • Til Death Do Us Part – Marriage and Asset Protection
    The question of whether a spouse can be held liable for the debts of the other spouse is often asked from married  (or to be married) couples, but the answer is not uniform and depends largely on  the laws of the state where you reside. MOST STATES – COMMON LAW TREATMENT The large majority of states that are NOT one of the nine “community property” states discussed below operate under the “common law” system, derived from Great Britain.  In these common law states, the liabilities of married couples are generally determined under the “title” theory, meaning whichever spouse is ... read more
    Source: KKOSLawyersPublished on 2017-08-15By Lee Chen
  • Pokémon No! How Pikachu Ended Up Getting Served with a Class Action Lawsuit
    Remember Pokémon Go? About this time last year, the “augmented reality” game in which players use their smartphones to capture and train various species of Pokémon was a global phenomenon, with nearly seven million daily downloads. It was sort of the “thing to do” of Summer 2016. While Pokémon Fever has certainly subsided a bit, the game still has plenty of rabid fans. In fact, last month’s Pokémon Go Fest in Chicago drew 20,000 Pokémon Go die-hards to the city’s Grant Park. The Fest was billed as a chance for Pokémon Go “trainers” to compete against each other and bag ... read more
    Source: KKOSLawyersPublished on 2017-08-10By Jarom
  • Estate Planning 101: 5 Tips to Avoid Mistakes
    As I work with small business owners and investors throughout the year, I want them to see the big picture when it comes to Estate Planning. Many misunderstand what the Estate Plan is all about and think it’s simply an ‘asset protection’ strategy…that couldn’t be further from the truth. An Estate Plan is about passing on your hard earned wealth to your loved ones, or a project/institution you love.  What a tragedy for a small business owner or investor to spend decades toiling to build wealth, only to have it crumble at the very end of their life because ... read more
    Source: KKOSLawyersPublished on 2017-07-25By Kevin Kennedy
  • Legal Tips for Wholesaling Real Estate
    Many real estate investors regard wholesaling as a way to learn how to evaluate deals and develop your real estate network.  It is also a method to profit from investing in real estate without requiring significant up front capital.  Wholesaling is a strategy whereby the wholesaler enters into a purchase contract with a seller of real estate and then assigns the purchase contract to another third party who will typically rehab the property and flip it for a profit (at least that is the goal). Although most investors regard wholesaling as involving less risk than, for example, the flipper ... read more
    Source: KKOSLawyersPublished on 2017-07-18By Lee Chen
  • Ask Your Attorney if a “Covfefe” Trademark Is Right for You
    On May 31st, 2017, at 12:06 a.m. Eastern Time, President Donald Trump unleashed the following tweet: “Despite the constant negative press covfefe.” No one has been able to definitively crack the code (if there is one) as to what “covfefe” actually means. The President took down the tweet six hours later and replaced it with a tweet saying: “Who can figure out the true meaning of ‘covfefe’??? Enjoy!” Predictably, the word “covfefe” immediately went viral on social media, with several twitter users encouraging their followers to “ask your doctor if Covfefe is right for you” and others thinking it’s what ... read more
    Source: KKOSLawyersPublished on 2017-07-11By Jarom Bergeson
  • Bitcoin Basics: What is Cryptocurrency?
    Questions about Bitcoin have increased dramatically as investors have seen the price of Bitcoin rise from 30 cents per Bitcoin in 2011 to $2,550 per Bitcoin in July 2017. This article answers basic questions about Bitcoin and we’ll have two follow-up articles addressing IRA ownership of Bitcoin and about accepting Bitcoin in your business. Needless to say, there’s a “bit” of uncertainty when it comes to whether or not one should invest in Bitcoin (sorry –bad pun) but here’s a breakdown of the basics. What Is Bitcoin And How Does it Work? Bitcoin is one type of digital currency ... read more
    Source: KKOSLawyersPublished on 2017-07-03By Kevin Kennedy
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