Own a Business? Do This By December 31st to Get a Year-Long Extension To The Corporate Transparency Act Reporting Deadline
Business ownership is a fulfilling and exciting endeavor, but it also comes with rules, responsibilities, and reporting requirements that can be hard to track. If you own a small business or have a Trust that owns a business interest, you’ll need to comply with the Corporate Transparency Act (CTA) come January. Beginning January 1, 2024, […]
What You Must Know About Your Right to Your Spouse’s Retirement Benefits
If you’re part of a blended family (meaning you are married with children from a prior marriage in the mix), you’re no stranger to the extra considerations and planning it takes to keep your family’s life running smoothly – from which parent your children will be with for the holidays to figuring out the […]
Transition to Adulthood: What Happens Legally When My Child Turns 18?
Soon after the challenges of puberty and the excitement of high school, an even larger milestone looms: the 18thbirthday. It marks your child’s transition from childhood to adulthood, and with it new responsibilities and rights. From a legal standpoint, this milestone also brings significant changes that every parent should be aware of. In the […]
Before You Agree to Be a Trustee, Read This!
Being asked by a loved one to serve as Trustee for their Trust upon their death can be quite an honor, but it’s also a significant responsibility—and the role is not for everyone. Indeed, serving as a Trustee entails a broad array of duties, and you are both ethically and legally required to execute those […]
Revocable Living Trust Or Irrevocable Trust: Which One Is Right For You?
You’ve probably heard you need a trust to keep your family out of court and maybe out of conflict in the event of your death or incapacity. And, if you haven’t, you are hearing it now. If you own any “probatable” assets in your name at the time of your incapacity or death, your […]
4 Common Mistakes Made on Life Insurance Beneficiary Designations
Investing in life insurance is a foundational part of estate planning, and when done right it’s a primary way to say “I love you” to your loved ones after you are gone. However, when naming your policy’s beneficiaries, several mistakes can lead to potentially dire consequences for the people you’re investing to protect and […]
Creditors And Your Estate Plan
What Happens To Your Debt When You Die? In some cases, you could inadvertently leave a reality in which your surviving heirs—your kids, parents, or others—are responsible for your debt. Alternatively, if you structure your affairs properly, your debt could die right along with you. According to the Federal Trade Commission, an individual’s debt does […]
Have Young Children? 3 Situations Where Your Estate Plan Should Incorporate a Kids Protection Plan®
As a parent, the well-being of your child is likely at the forefront of your thoughts. You might have already considered designating permanent legal guardians for your child in the event something happens to you. If you haven’t, consider this a nudge to prioritize that task. Click HERE for a complimentary platform where you can […]
“From ‘I Do’ to ‘What Next?’: Essential Estate Planning Steps for Newlyweds – Segment 2”
Tying the knot and embarking on a new life journey is exhilarating. This phase not only brings joy but also necessitates several logistical updates. If you’ve relocated post-wedding, you’ll need to change your address, adjust your tax filing status at work, and incorporate your spouse into your banking and financial accounts. However, have you considered […]
“From ‘I Do’ to ‘What Next?’: Essential Estate Planning Steps for Newlyweds – Segment 1”
The wedding bells have rung, and whether you’ve just said “I do” or are about to, there’s an important legal step waiting for you as a couple – drafting an estate plan. Amidst the euphoria of marital bliss, thinking about future uncertainties might seem untimely, but incorporating an estate plan into your post-wedding tasks is […]