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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.

  • January 17, 2023
  • Blog

Proposed Federal Law Could Ban Non-Competes

The Federal Trade Commission (FTC) has proposed a rule that would ban all non-competes with very limited exceptions. If approved, the new rule would make it illegal for an employer to attempt to enter into a non-compete agreement with an employee, maintain an existing non-compete agreement, or advise an employee...

  • December 01, 2022
  • Blog

California’s 2023 Minimum Wage Adjustments

Effective January 1, 2023, the state-wide California minimum wage will rise to $15.50 per hour for all employees, regardless of the size of their employer. This accelerated increase is required by a provision in the state's existing minimum wage law that was triggered because inflation exceeded 7%. Certain counties and cities in...