The Answers You Need
At Borg Law Group, we know clients often have important questions before making decisions about estate planning, probate, or business matters. Below are answers to some of the most common questions we receive.
Why should I have an initial consultation?
An initial consultation serves three purposes: to determine whether the attorney can represent the client, to decide whether both parties wish to work together, and to explain how representation will proceed if the client chooses to retain the firm.
What is Sole Proprietorship?
A sole proprietorship is a business owned by one person. It offers no liability protection and fewer tax advantages compared to other business structures.
What is an S-Corporation?
An S-Corporation provides liability protection like a C-Corporation but avoids corporate income taxes. Profits and losses flow through to shareholders’ personal tax returns.
What is an EIN or Tax ID?
An Employer Identification Number (EIN) is issued by the IRS to identify a business entity for tax filings and banking purposes. Sole proprietors often use their Social Security number instead.
What happens if I die without a will?
Without a will, Nevada law determines who inherits your property. This process leaves no flexibility and may not reflect your personal wishes.
Who will raise my minor children after my death?
If one parent passes away, the surviving parent typically assumes guardianship. If both parents are deceased, the court appoints a guardian—unless you name one in your will.
What is a Health Care Power of Attorney?
This document designates someone to make medical decisions for you if you are unable to do so. While you are competent, you remain in control of your own health care decisions.
Why do I have to pay if I just want to ask a few questions?
Until an attorney is formally retained, they are not permitted to provide legal advice. The initial consultation is the first step in that process and ensures there are no conflicts of interest.
Is there a fee to meet with Borg Law Group?
Yes. We charge an initial consultation fee of $350, which is due prior to the appointment and is non-refundable. However, if you retain our services within 60 days, the fee will be applied to your first month’s bill or flat fee payment, depending on your arrangement.
Does my business need to be incorporated?
Incorporation shields business owners from personal liability and may provide tax advantages not available to sole proprietors or those operating under a DBA.
What is a Limited Liability Company (LLC)?
An LLC combines partnership-style taxation with corporate liability protection. Members (owners) are shielded from personal liability while enjoying flexibility in management and tax treatment.
What is a C-Corporation?
A C-Corporation is a separate legal entity owned by shareholders. It pays its own taxes at the corporate level and requires more formalities than other business structures.
Do I need a will?
If you want to control who inherits your property, you need a will. Even with a will, assets in your name without a beneficiary designation or joint ownership will go through probate.
What is a Trust?
A trust is a legal arrangement that holds and manages assets for beneficiaries. By placing property in a trust, you can avoid probate and provide long-term protections for your heirs.
What is Financial Power of Attorney?
This document allows you to designate someone to handle financial matters on your behalf, such as signing documents or managing transactions. A durable power of attorney remains valid even if you become incapacitated.
Can I leave a list of personal property for certain individuals?
Yes. You can create a signed and dated list referenced in your will. You may update it as needed, and the most recent version will control at your death.