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Signs You Need a Trust

Estate planning is akin to crafting a roadmap for the future; it’s about guiding your loved ones through the maze of your final wishes with clarity and ease. At the heart of this journey lie two pivotal tools: wills and trusts. While both serve to shepherd your assets posthumously, certain situations demand the finesse of a trust over…
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Documents to Update after Divorce

Amidst all the turmoil, it is vital for people to understand the significance of updating beneficiaries on various accounts and financial instruments.
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Grantor vs. Non-Grantor Trusts

As an estate planning attorney, I frequently encounter clients uncertain about the distinctions between grantor and non-grantor trusts. These types of trusts are fundamental in estate planning, offering various benefits and implications, particularly in tax planning and asset management. This article will discuss the key differences between…
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Maximizing Charitable Giving in Estate Plan

Estate planning is a vital aspect of financial management, ensuring that your assets are distributed according to your wishes after your passing. Incorporating charitable giving into your estate plan can be a fulfilling way to leave a legacy, while reaping tax benefits. This article delves into the intersection of charitable giving and estate planning…
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Advantage of Step-Up Basis for Estates?

The adjustment in basis is a crucial tax consideration–what can it mean for you?
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Corporate Transparency Act: 2024 Requirements

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…
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Best Ways to Manage an Inheritance?

Before you start spending your windfall, take some time to figure out your taxes, how you might invest and what your long-term plan looks like.
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Trust Protectors Safeguarding SNTs

Serving as the trustee of a special needs trust (SNT) can be particularly challenging because it often requires long-term financial management of the trust, while maintaining a good relationship with the beneficiary. Furthermore, because trustees wield great financial power over the trust assets, oversight of their investment and distribution decisions is helpful…
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Query Your Estate Planning Attorney

Estate planning is not as simple as executing a will.
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Estate Planning Protects Young Children?

To make sure that your children are taken care of if something happens to you, it’s important to appoint a guardian, establish a trust and ensure there’ll be financial support.
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