The Estate & Asset Protection Law Firm Managing Partner, Shannon Pawley, Talks About How The Pandemic Has Called Attention To The Importance Of Business Trusts.
Estate & Asset Protection Attorney and Managing Partner, Shannon Pawley offers a brief overview of how a business trust protects assets, reduces tax burden and allows business to continue if the owner should become incapacitated.
DECATUR, GA, November 05, 2020: Shannon Pawley, Managing Partner of The Estate & Asset Protection Law Firm, has posted a new blog on the law firm’s website entitled “How COVID-19 Has Brought The Value Of Trusts In Business Planning Into Focus.” Ms. Pawley manages to find the silver lining in an untenable situation.
Pawley writes, “While the pandemic has wreaked havoc on the lives of millions, disrupted the lives of everyone and virtually crippled the world economy, it has also been responsible for bringing some very important things to light.” She elaborates, “One is the importance of having a legal will in place no matter how young or old you may be, and better yet, a well thought out estate and asset protection plan. And secondly,” she adds, “is the importance trusts play in business planning.”
“I’m sorry that these important topics came to the foreground in such an unexpected and heartbreaking way,” says Pawley. She continues, “But the fact is that as a result, many more people will hopefully take action and be better prepared for other unforeseen events moving forward.”
As Pawley points out, “My focus here is on the value of business trusts, especially for small businesses.” She explains, “As has happened time and again during this pandemic, some small business owners contracted COVID-19 and were rendered unable to run their businesses. In some cases, the business owners passed away. In most cases where death happened unexpectedly the business was not legally prepared to have anyone else step in and keep the business going. In these circumstances, it is also likely that assets were not protected. And if your business is not in a trust, then creditors can come after any and all personal assets.”
The entire blog can be read at https://www.elderlawgeorgia.com/blog/how-covid-19-has-brought-the-value-of-trusts-in-business-planning-into-focus/
About The Estate & Asset Protection Law Firm
The Estate & Asset Protection Law Firm was established to serve the legal needs of retiring citizens. The Firm focuses its entire practice on providing strategies to protect independence, privacy, assets and taxes from the government. Victoria Collier and Shannon Pawley have grown their law practice and financial services practice by providing excellent customer satisfaction with personalized wealth protection plans.
About Victoria Collier
Victoria L. Collier, CELA founded The Estate & Asset Protection Law Firm to serve the legal needs of retiring individuals. In our firm WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability. We also believe that privacy and protection are the keys to personal peace.
Victoria enlisted in the U.S. Air Force during Desert Storm, 1989-1995, and also served in the U.S. Army Reserves, 1Lt. 2001-2004, JAG Corps. Victoria is a national expert on the VA Wartime Pension for veterans and their widows who need additional assistance with activities of daily living and helping them qualify for and receive tax-free income from the VA to pay for it. Victoria graduated from Valdosta State University with a B.A. in Psychology and then University of Nebraska, College of Law. In 2014, Victoria was awarded with the Alumni Master Award from the University of Nebraska.
Victoria is a Certified Elder Law Attorney (CELA) through The National Elder Law Foundation and has been named as the only attorney in Georgia as “Fellow” of the National Academy of Elder Law Attorneys (NAELA). Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 – 2016 and was awarded Dekalb County Veteran of the Year, 2013. She is the author of 47 Secret Veterans Benefits for Seniors; Paying for Long Term Care – Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit. Victoria has co-authored several books: Blooper Episodes in Estate Planning, Don’t Go Broke in a Nursing Home, and Protect Your IRA: Avoid the 5 Common Mistakes. Most notably, Victoria co-authored the National Best Seller, The Road to Success, with Jack Canfield, author of Chicken Soup for the Soul series.
About Shannon M. Pawley, J.D., LL.M
Shannon is the firm’s Managing Partner. Born and raised in the Tidewater area of Virginia to a tightknit family with strong military service roots, Shannon learned from an early age the value of hard work and the importance of social awareness to ensure you always leave a situation in a better place than how you entered it. In her junior year of high school, Shannon served as U.S. House of Representatives Page during the 101st United States Congressional Session in Washington, D.C. This experience exposed her to numerous new cultures and worldly issues. Walking away from her experience as a U.S. House of Representative Page, Shannon knew that she wanted to pursue legal studies and be able to assist others in obtaining the best results available in difficult situations.
Shannon earned her undergraduate degree at North Carolina Wesleyan College and pursued a law degree from Michigan State University College of Law. After obtaining her law degree and becoming a licensed attorney in Michigan, she continued her educational pursuit by acquiring a LL.M. (Master of Law) in Taxation from Wayne State University.
In her professional tenure, Shannon has represented the full spectrum of clients from international blue-chip companies to single parents. While she prospered as a litigator, Shannon began to realize her natural talent was as a mentor by developing others in their practice and procedures. That led her to focusing more on the operational aspect of the legal practice. Prior to joining The Estate & Asset Protection Law Firm, Shannon was the Vice President of Litigation Operations with a national law firm overseeing the litigation offices across the United States.
Through her partnership with Victoria Collier, Shannon has found a professional peer who shares her passion to assist others to age with dignity, grace, and independence. Together, they strive to improve the life of each client they interact with while preparing both the client and their family for the difficulties that come with aging. Shannon is licensed to practice law in both Georgia and Michigan. In addition, she is a VA Accredited Attorney.