A business may be required to report under the CTA even if it is a business that is not required to report for Federal income tax purposes (such as a single-member LLC), and even if it was formed to hold specific property, such as real estate, and does not conduct any active business.

Most estate planning attorneys can help you craft an estate plan that minimizes or avoids probate altogether. Probate proceedings are part of the public record and can be very time-consuming and expensive. However, in nearly every case, to some extent probate is necessary. So, it’s important to understand how to navigate the process.

Elder law and estate planning serve two different -- but equally vital -- functions. The main difference is that elder law is focused on preserving your assets during your lifetime, while estate planning concentrates on what happens to your assets after you die.