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For many business owners in Foley, AL, Gulf Shores, AL, and surrounding areas, their business is one of the most valuable and important assets they own. When it is time to sit down and create an estate plan, it is critical that business owners plan for their business just as they would plan for their […]

There is a lot riding on your small business in Foley, AL, Gulf Shores, AL, and beyond. You have invested your money, time, and sweat equity to build a company that will be successful for years to come. Even if you make all the right business moves, unexpected costs can arise at any time. Accidents, […]

Starting a business requires a great deal of planning and execution. Exiting from your small business in Foley, AL, Gulf Shores, AL, or any other location should entail a similar level of forethought and preparation. Nevertheless, some surveys indicate that nearly half of business owners have no exit strategy. After years of expanding your business, […]

Fewer people are creating estate plans today than in years past. Research shows that in 2024, less than one-third of Americans report having a will. Every adult—whether they are 19 or 99—should have a will at a minimum. Many people in Foley, AL, Gulf Shores, AL, and beyond can also benefit from estate planning documents […]

Estate planning for blended families presents unique challenges and requires careful consideration. Individuals often try to balance providing for their spouse, taking care of their children from a previous marriage, and taking care of children from their new marriage. Whether you are located in Foley, AL, Gulf Shores, AL, or the surrounding areas, these considerations […]

As a millennial, you are contributing to the workforce in a major way and are making positive changes in the world around you. We understand that your concerns may differ from those of a previous generation, and we are here to help you craft an estate plan that protects your future and addresses the things […]

Financial winter is coming. Or is it? Despite renewed optimism that the US economy can avoid a deep downturn, economists say the chances of a recession in 2024 are still about even. Small businesses in Foley, AL, Gulf Shores, AL, and across the country are feeling the pain from high inflation, declining consumer confidence, and […]

Most US businesses have a pass-through taxation structure: they are not subject to corporate tax. Instead, they have their income “pass through” to their owners to be taxed on their individual income tax returns.  Pass-through businesses have simpler filing and a lower tax rate than C corporations because they avoid double taxation. Pass-through business owners […]

As the name suggests, ABC’s TV show Modern Family depicts the relationships and experiences between a fictional extended family. Throughout the course of the series, the show addresses many issues that families deal with each day. For a close-knit family such as this fictional one, estate planning is crucial to ensure that everyone is protected […]

For many, Labor Day signals the end of summer and enjoying warm-weather activities, including backyard barbecues with friends and family. Although a cookout may be an informal affair, planning is crucial to its success. This is true for planning your estate, too. Just as preparations are necessary for a successful cookout, a little planning goes […]

If you are thinking about creating an estate plan, you may hear some new and confusing terms that make your brain hurt. To add to your bewilderment, not only are some of the words unfamiliar, they may also be homophones—words that are pronounced the same as other words, but have different meanings and spellings. For […]

The risk of suffering a data breach has never been higher, especially for businesses in Foley, AL and Gulf Shores, AL. Small businesses are three times more likely than larger businesses to be targeted by cybercriminals. The costs of a cyberattack, both in terms of financial and reputational damage, can be devastating to small businesses. […]

You have spent years building your business in Foley, AL and Gulf Shores, AL, but at some point, the time will come for you to sell the company and exit.  While many business owners choose to keep the company in the family, that is not always realistic. Family members may not have the interest or […]

Over time, your business can undergo significant changes. What may have started as a humble, one-person operation in Foley, AL can grow into a more complex company, with multiple owners, employees, an evolving mission statement, and increasing risks.  As the scope and goals of your business shift, an accompanying change in business structure might be […]

Small business owners in Foley, AL and Gulf Shores, AL are no strangers to government regulations. There are many requirements that businesses must be aware of and comply with, including business license and permit rules.  Most businesses must obtain licenses or permits, so it is important for each business to know which ones it needs. […]

While many wines get better with age, the same cannot be said for some irrevocable trusts.  Maybe you are the beneficiary of a trust created by your great-grandfather over 70 years ago, and that trust no longer makes sense. Or maybe you created an irrevocable trust over 20 years ago, and it no longer makes […]

Trust protectors are commonly used in Foley, AL. Essentially, a trust protector is someone who serves as an appointed authority over a trust that will be in effect for a long period of time. Trust protectors ensure that trustees maintain the integrity of the trust, make solid distribution and investment decisions, and adapt the trust […]

In the realm of estate planning and asset protection, families often seek avenues to secure their financial legacies and ensure the well-being of their loved ones for generations to come. While establishing trusts in Foley, AL, has long been a common practice in achieving these goals, the concept of a trust protector is gaining momentum […]

Considering the myriad of trusts available, creating the right estate plan can seem daunting.  However, that is what we, at King & King Attorneys At Law in Foley, Alabama, do every day. We know the laws and will design a plan that addresses your specific situation.  Here is a look at the basics of ten […]

As a business executive, you are used to strategizing and creating goals as part of your job. But have you devoted time to strategizing and creating goals to protect yourself and your loved ones? If not, we are here to help you address some of the goals business executives often have when looking to their […]

Unfortunately, rifts sometimes arise between family members that are much more serious than just temporary squabbles. The result may be estrangement, defined as “the state of being alienated or separated in feeling or affection; a state of hostility or unfriendliness” or “the state of being separated or removed.”[1] Estrangement does not mean that the relationship […]

Most people usually think about who will receive their retirement and bank accounts, life insurance proceeds, real estate and other valuable possessions upon their death in Foley, AL. However, a person’s personal property (their stuff) can also be a source of value that needs to be addressed. When looking to start or continue your estate […]

Estate planning helps bring peace of mind and a sense of security, both in our lifetime and beyond. While we cannot predict our fate, we can at least dictate how our money and property will be distributed and ensure that we provide for our loved ones. Physical security is a big part of feeling emotionally, […]

Good business ideas have a simple elegance that can spur entrepreneurs to ask themselves, “Why didn’t I think of that?”. Or maybe they did have a good idea but lacked the foresight to turn it into an effective business model.  Inspiration alone is not enough to succeed in business. Ideas must be accompanied by strategic […]

Businesses require periodic evaluation to remain on track to achieve their big-picture goals. The new year is an ideal time to reanalyze, reassess, and reprioritize moving forward.  A SWOT (strengths, weaknesses, opportunities and threats) analysis provides a tried-and-true framework for evaluating both internal and external factors that affect a company’s competitiveness. The results of a […]

Due diligence is the process of obtaining and verifying information about a company or person in preparation for a business transaction, such as an acquisition, merger or potential new business partner.  Generally, due diligence in Foley, Alabama provides information about the company being considered for purchase and its operations, with an eye toward risks that […]

The CTA, enacted as part of the Anti-Money Laundering Act of 2020 (AMLA), places new reporting requirements on many business entities in an effort to expose illegal activities, including the use of shell companies to launder money or conceal illicit funds. Around 30 million small businesses will be impacted by the law, including  Foley, AL, […]

Today, many estate plans contain an irrevocable trust that will continue for the benefit of a spouse’s lifetime and then continue for the benefit of several generations. Because trusts like these are designed to span multiple decades, it is important that they include trust decanting provisions to address changes in circumstances, beneficiaries, and governing laws. […]

With the increased coverage of Artificial Intelligence (AI) and its applications, residents of Foley, AL, and Gulf Shores, AL, might wonder whether an AI program can create an estate plan for them. While AI may be able to generate basic estate planning documents, including wills and trusts, there is no guarantee that they will be […]