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10 Common Mistakes with Estate Planning—the good news is that all of these mistakes are easily avoidable!

  • February 10, 2013
  • Blog
Potente, Business Lawyer and Company Formation
  1. Even though a business may be an individual’s most valuable asset, he or she fails to implement the proper succession plan;
  2. Failing to consult with a professional and utilizing an online, “do-it-yourself” website;
  3. Not properly funding or transferring assets to the trust and exposing your estate to probate;
  4. Thinking a “Will” is sufficient estate planning;
  5. Not updating your estate plan after a major event (i.e. death, grandkids, divorce);
  6. Purchasing additional real estate or other investments in the future and failing to transfer such holdings to a trust;
  7. Owning a corporation or Limited Liability Company and failing to transfer stock or membership units to your trust;
  8. Failing to integrate your financial planner, CPA and attorney when developing your estate plan (each individual plays a unique and important role);
  9. Lack of life insurance can cause liquidity problems for the surviving spouse; and
  10. Not fully understanding what you are creating and effectuating when you complete your estate plan.

Please do not hesitate to contact your trusted advisors at POTENTE. Our team is here to help.

  • April 16, 2024
  • Blog

Generational Differences in the Workplace

The workspace can be a very diverse place, featuring colleagues of various ages, races, ethnicities and more. In Western culture, there are 4 generations commonly present in our workforce right now, from oldest to youngest: baby boomers, Generation X, millennials, and Generation Z. At POTENTE, we can proudly say that...

  • April 02, 2024
  • Blog

Arbitration Updates

In comparison to trials, arbitration can expedite dispute resolution, help avoid class-action lawsuits, and circumvent the potentially costly and time-consuming litigation process. Therefore, it is imperative that businesses ensure arbitration clauses are enforceable. On December 21, 2023, in Hasty v. American Automobile Assn. of Northern Cal., Nev. & Utah, a...