Why Is January the Perfect Time to Start Estate Planning?
As the start of a new year, January offers a fresh beginning, making it the ideal time to focus on long-term goals, including estate planning. For many people, the thought of creating an estate plan may seem overwhelming or unnecessary, especially when life feels busy or there are other financial priorities. However,...
7 Estate Planning Tips for Small Business Owners
As a small business owner in Wisconsin, you’ve worked hard to build and grow your company, and it’s essential to ensure that your legacy and financial future are secure. Estate planning is an often-overlooked aspect of business management, but it is crucial for safeguarding your personal and professional assets. Proper planning can...
Minimizing Family Conflict in Estate Planning: Tips for a Harmonious Transition
Creating an estate plan is more than a financial or legal process—it’s a way to preserve your family’s harmony and legacy for generations to come. Without careful planning, disputes can arise over the distribution of assets, leading to strained relationships and costly legal battles. Here are practical tips to help ensure your...
Choosing Between a Family Limited Partnership and an LLC
When it comes to managing family assets or businesses, the choice of legal entity is crucial. Family Limited Partnerships (FLPs) and Limited Liability Companies (LLCs) are two popular options for estate planning, asset protection, and efficient wealth transfer. While both structures offer distinct advantages, the best choice depends on your family’s goals...
How to Balance Running Your Business and Its Legal Needs
Running a business is a demanding task. Business owners wear many hats, from managing day-to-day operations to planning for future growth. Among these responsibilities is ensuring your business stays compliant with legal requirements, which is critical to long-term success. However, balancing the operational side of your company with its legal needs can...
8 Common Myths About Prenups
Prenuptial agreements, often referred to as prenups, are legal documents that outline how a couple’s assets will be divided in the event of a divorce. Despite their benefits, prenups are often misunderstood. Many myths surround them, leading couples to overlook this useful planning tool. In this blog, Borakove Osman LLC...
How to Create a Succession Plan for Your Business
Whether you own a small startup or a long-established company, creating a solid business succession plan is critical to ensure your business’s continuity and protect your legacy. A well-thought-out succession plan prepares your business for a leadership transition, safeguarding its long-term success. This blog explains how you can craft an effective succession...
Prenuptial vs. Postnuptial Agreements: Which Is Right for You?
At Borakove Osman LLC in Madison, Wisconsin, we know that a well-crafted estate plan requires financial foresight that develops from extensive legal knowledge and experience. Our skilled attorneys have both. We know that prenuptial and postnuptial agreements can play an important role in creating a comprehensive estate plan since they provide...
Choosing The Successor to Your Farm in Wisconsin
Owning a farm in Wisconsin is not just a livelihood; it's a legacy. Planning for the future of your farm involves critical decisions, especially when it comes to choosing a successor. At Borakove Osman LLC in Madison, we understand the importance of this decision and specialize in guiding farm owners through the intricate process...
Why Is It Important to Update Your Estate Planning?
There are many reasons you should plan to review your estate plan on a regular basis to keep it current, but the overriding reason is that life is always changing and you have to keep pace to protect your assets, your future, and your loved ones. At Borakove Osman LLC, our...