A new federal law, the Corporate Transparency Act (CTA), effective Jan. 1, 2024, impacts almost all limited liability companies (LLCs) and small corporations in the United States. Businesses now have new reporting requirements annually, and these changes may lead to new challenges for small and family business owners. This article provides an overview of the new reporting requirements…
The federal gift, estate, and generation-skipping transfer (GST) tax exemptions and the annual exclusion from gift tax are historically high due to a temporary increase under the Tax Cuts and Jobs Act.
Many people want to learn how to avoid probate so their heirs don’t have to cope with these legal proceedings during a stressful time of grief after a death.
Family business succession planning is a critical and often challenging process for many family-owned businesses. The goal of a successful succession plan is to ensure a smooth transition of the business to the next generation, preserving the legacy and values that have been built over the years…
A living trust won’t be for everyone. However, it can provide big benefits for some. Many people use a living trust for one big reason: avoiding probate. However, there are other reasons you should seriously consider.
If you want to exclude someone from the will, is it best to leave them a dollar so they can’t challenge being excluded? Can you put in a provision that if they challenge the will, they lose everything?
Estate planning, once limited to human beneficiaries, has now extended to include beloved pets in order to provide for their well-being after the owner’s death.
You’re not too young, you do have enough assets and don’t you want to make things easier for your loved ones after you pass away?
Estate planning involves both trust funds and wills to help ensure the smooth transition of assets to your beneficiaries.
Power of Attorney documents are often an afterthought when someone thinks about their estate plan.
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