Without a proper understanding of the various legal implications your actions may have, it can be extremely difficult to plan for the future. Things like bequeathing assets, forming or running a business, and navigating the tax code can range from merely overwhelming to almost impossible. The experienced attorneys of North City Law can offer the guidance you need.
Whether you have a family matter that needs to be sorted out, or a business or tax issue that requires legal attention, our North City Law attorneys are here to help!
If you want to operate a healthy, thriving business, hiring experienced business law attorneys is a must. When running an enterprise, there are many things to keep in mind, such as state and federal commercial regulations, as well as laws prescribing the way a professional business environment ought to be conducted. From drafting and reviewing effective contracts to helping you select your legal entity for tax-related purposes, North City Law is here to help!
If it’s not approached through the lens of relevant expertise, inheritance can come with a lot of caveats. In many instances, heirs might be burdened with steep taxes when they try to redeem the assets passed on to them. Additionally, if this is not properly planned for in advance, they may need to get involved with probate court, which often takes a very long time to arrive at a judgment, and can be quite expensive. To safeguard your legacy and take care of your family, you may choose to make a plan with a qualified estate planning attorney.
Among other things, probate court oversees the way in which inheritance is administered. With valuable assets at stake, choosing an accomplished attorney to represent you during probate litigation is a stressful endeavor, as the choice can make or break your case. From filing court pleadings, to preparing you for deposition, to ensuring every court deadline is met, our team will be there every step of the way!
Wills are common as a basic estate planning document. However, in most instances, they will not allow you to bypass probate, and so court appearances will still be necessary, as well as provision of numerous documents to substantiate your entitlement to the assets in the will. The dedicated estate planning attorneys at North City Law will work with you to ensure your interests are well represented.
One cannot predict whether they will always have the luxury of making their own choices and taking care of their family the way they want to. That is why planning for the event of incapacity, as well as making decisions about a life insurance plan, is sensible. We know that this is a sensitive area for many families, and our North City Law attorneys are there to support and guide you through this process.
Putting some or all of your wealth in a trust, or several trusts, is often helpful, as it could have many benefits both for the testator and their named beneficiaries. It could decrease the tax burden, streamline the asset distribution process after the testator’s passing, as well as provide a substantial measure of control for the person passing along their wealth. It is important to have specialized legal counsel on your side, both when conceiving of an estate plan that may involve trusts, and when a loved one’s estate is passed on to you in inheritance.
People’s values and wishes may differ greatly, especially on those things that could, quite literally, determine the quality and duration of somebody’s life. When it comes to matters like life support, resuscitation, and other such medical processes, people tend to hold vastly different opinions. However, it is precisely when those decisions need to be made that they are usually made for us, on our behalf. Similarly, when we are unable to express our own wishes, some of the things we worked the hardest for, like our properties or the legal affairs of our families, could be resolved by others, based on their own sets of values. To ensure that your self-reliance is honored in every area of your life, you can set up one or more powers of attorney. North City Law can help you go through the scenarios you would like to cover in your supporting documents and make sure your will is tailored for your specific circumstances and needs.
Gifts – whether private or public, to individuals or organizations, could have various implications in terms of taxes. Perhaps, a property was gifted to you by a relative and you need to figure out your next steps, or you are interested in learning how to make a tax-deductible charitable donation to a non-profit you want to support. In either event, our experienced attorneys are there to help you with your process!
Whether you are an individual who is having issues with their taxes, or a business struggling to figure out the right things to do during their IRS audit, North City Law has got you covered! Our attorneys have decades of experience in Tax Law and we will set you on the right track.