September is the most common birth month of the year. It's also a good time for new parents to think about the financial side of their parental responsibilities.
Tenancy by the entirety, commonly abbreviated as TBE, is an ownership structure for real estate that's used when the owners are a married couple. Under a TBE arrangement, each spouse owns an equal interest in the property, and the property will transfer seamlessly to the surviving spouse, in the event of one spouse's death.
James Brown died on Christmas Day 2006. However, almost 15 years later, litigation over his estate rages on. The Godfather of Soul had bequeathed the majority of his assets to underprivileged students in South Carolina and Georgia, but not a single scholarship has been given, pointed out Donald W. Beatty, Chief Justice of South Carolina’s Supreme Court.
Somewhere between a corporation and a partnership lies the limited liability company (LLC). This hybrid legal entity is beneficial not just for small-business owners but is also a powerful tool for estate planning.