What Not To Include In Your Estate Planning Documents How To Protect Your Estate From Identity Theft & Other Risks One important purpose of estate planning is to facilitate the transfer of ownership of your money and property to your family and loved ones when you pass away. For this transfer to be as [...]
Three Important Concerns Self-Employed Individuals Should Address The Importance Of Estate Planning For Self-Employed Individuals Being self-employed is no easy task. You are the owner, and in some cases, the only employee. While you may have more freedom than the average worker, a lot of responsibilities lie on your shoulders. Working together, we can [...]
What Is a Devise In My Estate Plan? How To Choose The Right Type Of Devise For Your Estate 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, [...]
Urgent Legal Updates for Business Owners Preparing for the Corporate Transparency Act (CTA) Effective on January 1, 2024 A critical development is on the horizon that requires the immediate attention of U.S. business owners. The Corporate Transparency Act (CTA), was passed by Congress in 2021 and authorized the U.S. Treasury’s Financial Crimes Enforcement Network [...]
Cross-Border Estate Planning Top 5 Concerns for Families to Consider When Holding Property in Multiple Countries When families own assets in both the United States and other countries, there are several estate planning issues that can arise that may come as a surprise to those who have not planned ahead. As a law firm [...]
Ways The Administration Wants To Modify The Tax Rules For Certain Trusts Taxes are not just for individuals—they can impact certain types of trusts as well. Whether a trust pays its own taxes or whether the taxes are paid by the trust’s beneficiaries or the trustmaker depends on several factors. Grantor Retained Annuity Trusts [...]
Four Improvements The Administration Wants To Make Regarding Administration For Trusts & Decedents’ Estates When a client dies, there are often several tasks that need to be completed to properly wind down the deceased’s affairs—funerals and other preparations need to be planned, bank and investment accounts closed, property transferred, arrangements made for pets, tax [...]
What You & Your Clients Need To Know About The 2024 Revenue Proposals On March 9, 2023, the Biden administration released a proposed budget for fiscal year 2024 calling for an increase in federal spending along with a series of counterbalancing revenue raisers. The budget was outlined in a document called the “General Explanations [...]
Investment & Distribution Trustees: Why Would I Need Both? When creating a trust, it is common to name yourself as the initial trustee who is responsible for all aspects of administering the trust. However, when considering who will take over when you can no longer act (either because of illness or death), it is [...]
Integrating a Community Property Trust Into Your Estate Plan Careful, trust-based estate planning is the best way to ensure the highest quality of life for you and your loved ones. But, a well-crafted estate plan consists of many parts. Couples with highly appreciated accounts or property (something that is worth more now than when [...]
