Have a Trust? How the Corporate Transparency Act Affects You
Get ready for an interesting twist in the world of legal and business news. You may already be familiar with the upcoming Corporate Transparency Act, set to kick in next year. If you aren’t, it’s time to get in the know because it could impact you, and if it does, you’ll need support. Starting January […]
What is the Federal Gift Tax and Estate Tax Exclusion and How Can it Help Your Loved Ones
The amount of money you can give to loved ones during your life and leave to your loved ones at your death has increased for 2023! Gifting money during your life can be a great tax avoidance strategy. There are, of course, some limits to this. Before we get into this strategy, let’s define some […]
How to Talk To Your Parents and Get Them To Stay Home
There’s no doubt that your parents have survived frightening world events, whether that was World War II, the war in Vietnam, nuclear threat, illness, poverty, civil unrest, or all of the above. However, the use of the word “unprecedented” regarding what’s happening now is not an exaggeration. And they may not understand it all or […]
The Most Important Legal and Financial Actions to Take Right Now
As you already know, the COVID-19 pandemic means nothing is business as usual. Many states have implemented a “shelter-in-place” order to limit the spread of the disease; however, if you are not in a place with such an order, or if your parents are not following it, you may want to refer to our previous […]
Are You Clear About How Your Parents Estate Plan Will Impact You?
Do your parents have an estate plan? Is it up to date? No matter how rich or poor you or your parents are, especially in the wake of the COVID-19 pandemic, you need to be asking these and several other questions. When your parents become incapacitated or die, their affairs will become your responsibility, and […]
What You Should Know About Guardianship – In Case a Parent or Loved One Becomes Incapacitated
Whether through illness, injury, or other means, anyone can require a guardian to become appointed if they become mentally incapacitated. In such cases, if there is no estate planning in place (or insufficient planning) to keep family or other loved one’s out of court, a guardianship, or conservatorship as it is sometimes called, must be […]
Ready to Write Your Will? Consider This Before You Go it Alone or Online
A last will and testament is the most commonly thought of document when it comes to an estate plan. But, really, it’s a very small part of an integrated plan that ensures your family stays out of Court and out of conflict when something happens to you. Don’t think you can just write your own […]
Easy Mistakes to Avoid When Passing Assets to Your Child
Setting up a trust fund for your children can ensure that the money you are leaving behind for them is taken care of for them, in the way that you want. But your efforts in completing this important, yet somber task can be ruined by making one of these common mistakes. Leaving Assets Outright to […]
Three Health Care Documents You Need to Include in Your Estate Plan
Decisions about your health care are some of the most important you will ever make. Don’t put off making plans until you are unable to assert your wishes. Including health care documents in your estate plan can ensure your decisions are always your choice, even if you cannot speak for yourself. Health care documents that […]
Avoid This Major Mistake When Adding an IRA to Your Estate Plan
Some people assume that because they’ve named a specific heir as the beneficiary of their IRA in their will or trust that there’s no need to list the same person again as beneficiary in their IRA paperwork. Because of this, they often leave the IRA beneficiary form blank or list “my estate” as the beneficiary. […]
