Small business owners have many options when structuring their business and choosing their tax status. One option is an S corporation. The business structure you choose will affect your estate planning, so it is essential to seek the guidance of an experienced estate planning attorney and tax advisor when estate planning as a small business […]
Read More
While your rights as a domestic partner may differ depending on the state you live in and possibly even the city or county, a domestic partner is unlikely to have the same rights as a spouse. What defines a domestic partnership? A domestic partnership is an alternative to marriage that any couple can choose if […]
Read More
At one of the most challenging times in your life, after the death of a loved one, it seems like there is a never-ending list of things to manage. Properly disposing of your loved one’s prescription medications and controlled substances may not be at the top of your list, but children or pets can be […]
Read More
Many couples, especially those who have been married more than once, have accounts and property that they consider as yours, mine, and ours. Developing an estate plan to determine what happens to accounts and property that belong to one or the other partner in a couple and the account and property that belong to both […]
Read More
Real estate can refer to your primary residence, but it can also include a vacation home or rental property. Below, we take a look at the different types of real estate and make suggestions about the best form of ownership for each. Primary Residence A primary residence receives special tax treatment, so you’ll need to […]
Read More
For some people, social media is a way to share content, opinions, and ideas. For others, social media is their business. If social media makes up a large part of your business model, here are five questions to ask yourself to ensure your online business is fully protected. Are you treating your online business like […]
Read More
HOW THE CLAYTON ELECTION AND DISCLAIMER OPTIONS HELP MARRIED COUPLES REDUCE FEDERAL ESTATES TAXES Married couples with larger estates face uncertainty about the federal estate tax exemption when the second spouse dies. Currently, the 2022 exemption amount for an individual is $12.06 million. However, current law reduces the exemption to $5 million (adjusted for inflation) […]
Read More
Why you might need This Trust in the Future? According to the Internal Revenue Service, an estate tax is a tax on your right to transfer your property upon your death. The combined estate and lifetime gift tax limit for 2022 is $12,060,000, a very generous amount when compared to 2004-2005, which was $1,500,000. This […]
Read More
When using trusts in your estate plan, it is essential to fund the trust. Transferring your real estate from personal ownership to the Trust is essential to avoid the expensive and time-consuming probate process. To retitle your real estate in the trust’s name involves recording a deed with the local recording authority. Retitling your real […]
Read More
Parents want to ensure that their children feel that they are all treated fairly and feel equally valued. However, the reality is that all children do not need the same amount of financial help, especially in different phases of their lives. Parents may want to divide their property and accounts equally among their children in […]
Read More
(855) 528-9637