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Articles by Lawrence S. Jacobs

Don’t DIY Your LLC

Over the last 20 years, limited liability companies have become the preferred way of doing business for many small and medium-size enterprises. That is primarily due to the fact that LLCs are easier to form than corporations. Unfortunately, that simplicity lulls many people into trying to do it themselves or working with forms provided online. Sure, if your LLC is only going to operate a kid’s lemonade stand for a couple of months over the summer, that might be good enough. But for most people engaged in real businesses with significant risks, it’s not.

Estate Planning In This Coronavirus Moment

Does this sound like you these days? Fresh out of bed, your day begins with a rush of COVID-19 news. Your email box pings with alerts. Memes crowd your social media feeds. And your smartphone vibrates with texts from worrying friends and family. On top of that, you have more time to think about it all a little too obsessively because you’re working at home instead of going to the office and you’re taking social distancing seriously. You ponder the uncertainties and wonder if there’s anything at all you can do about it. 

Who Should Be In Charge If You Can’t Be?

Choosing the people to whom you want to assign responsibility in case the worst happens is a stumbling block that keeps many of us from creating estate planning documents, such as wills, trusts, and powers of attorney.  Who should my executor be? Who could manage money for kids who will be my heirs? Who would I trust to make medical or financial decisions for me in an emergency? Who would be willing to raise my kids if neither of us was around?