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Trust Funding: Setting Your Trustee Up for Success

Posted by Danielle Browne | Jul 10, 2020 | 0 Comments

For many people, a revocable living trust is a valuable tool to ensure that their finances are well managed during periods of incapacity and that their loved ones are financially secure upon their passing. However, signing the trust agreement doesn't end the estate planning process: To work prope...

Sales Tax: What You Need to Know

Posted by Danielle Browne | Jul 08, 2020 | 0 Comments

Many small business owners contend with collecting, reporting, and paying sales tax. Although there is currently no federal sales tax, 45 states, and many localities, as well as the District of Columbia, have a sales tax. Different taxing authorities have their own regulations, tax rates, exempti...

Estate Planning: Why Me, Why Now & Is a Will Enough?

Posted by Danielle Browne | Jul 06, 2020 | 0 Comments

You have worked hard for years, have family members and friends you care about, and have approached a time in your life when “estate planning” sounds like something you should do, but you are not exactly sure why. You may feel that you are not wealthy enough or old enough to bother or care. Or, y...

Nosy Neighbor Nellie Can Find Out About Your Probate

Posted by Danielle Browne | Jul 01, 2020 | 0 Comments

Most people think of probate (the process of collecting, managing, and distributing a deceased person's money and property) as a private process. However, because wills are filed at the courthouse, probated estates become a matter of public record. That means your nosy neighbor Nellie can simply ...

How to Legally Terminate an Employee

Posted by Danielle Browne | Jun 17, 2020 | 0 Comments

Almost all business owners eventually must make the difficult decision to terminate an employee. Whether that decision arises from failure on the employee's part or economic turbulence, one thing is clear: How a business handles this delicate situation can either increase or decrease the risk of ...

Key Considerations for Managing a Remote Workforce

Posted by Danielle Browne | Jun 08, 2020 | 0 Comments

The post-COVID-19 world will likely see a major shift toward companies maintaining remote workforces. Due to government-mandated business closures and stay-at-home orders, many owners and employees of small businesses have been forced to work virtually, and they have seen the benefits. Studies sh...

Should You Form Your LLC in New York or Delaware?

Posted by Danielle Browne | Jun 05, 2020 | 0 Comments

If you have an active interest in starting your own business, you probably heard somewhere along the way that you should start your business in Delaware. This tiny state is home to so many of the country's Fortune 500 companies (well over 50 percent, in fact). The common refrain from many busines...

Retirement Updates Amid COVID-19

Posted by Danielle Browne | Jun 01, 2020 | 0 Comments

On May 4, 2020, the Internal Revenue Service (IRS) published questions and answers regarding retirement provisions in Section 2202 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. In addition to providing aid for individuals and businesses, the CARES Act increases accessibility ...

Understanding How LLC Members Pay Taxes

Posted by Danielle Browne | May 28, 2020 | 0 Comments

Limited liability companies (LLCs) are one of the most popular types of business entities. The LLC's flexible taxation options are one reason it is preferred; LLC members can, for the most part, choose how they would like to be taxed. The LLC enjoys this flexibility because the Internal Revenue S...

What Is a Business Succession Plan?

Posted by Danielle Browne | May 26, 2020 | 0 Comments

If you own a small business, developing your succession plan is a critical element of business planning. Many business owners fail to appreciate the complexities and time involved in successfully transitioning a business. Entangled in the day-to-day management of their companies, they neglect thi...

Wills, Trusts & Dying Intestate: How They Differ

Posted by Danielle Browne | May 22, 2020 | 0 Comments

Most people understand that having some sort of an estate plan is a good thing. However, many of us don't take the steps to have an estate plan prepared because we don't understand the nuances between wills and trusts – and dying without either. Here's what will generally happen if you die, intes...

Five Common Agreements in the Music Industry

Posted by Danielle Browne | May 20, 2020 | 0 Comments

Original creative material, including music, provide priceless value to society; this is apparent now more than ever as those under quarantine and stay-at-home orders turn to works of art for entertainment value and numerous benefits to mental health. At its core, though, the music industry is ju...

Force Majeure Clauses in Light of COVID-19

Posted by Danielle Browne | May 13, 2020 | 0 Comments

Businesses across the globe have experienced unprecedented interruptions and closures as a result of the COVID-19 pandemic and government responses to curb its spread. As a result, many businesses and individuals are finding it difficult to perform their contractual obligations to each other. Con...

How To Create a Valid Will in New York

Posted by Danielle Browne | May 11, 2020 | 0 Comments

In light of the current pandemic, many Americans are becoming aware of the importance of creating or updating their estate planning documents. With the extension of some states' stay in place orders, it may be tempting to create your own documents all on your own. Whether you are considering writ...

Four Reasons Your Will May Be Contested in Court

Posted by Danielle Browne | May 08, 2020 | 0 Comments

Having an updated last will and testament is more important than ever, especially now. However, a will that is poorly created or not frequently updated can be vulnerable to contestation. What is contestation? It is the formal objection to a will's (or trust's) validity because it either: a) doesn...

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The Browne Firm Is Here for You

Contact The Browne Firm today if you’re an entrepreneur or business owner who needs an attorney in Westchester County who can help you resolve matters concerning business law and estate planning. We’re a legal service provider with offices in Mt. Vernon and Manhattan that can help you defend the assets and property that help make your businesses what it is. Our services can also offer security for your family when they look toward the future.

Discover how The Browne Firm can make a difference for you by reaching out to us today.