Wealthy American families are rushing to relinquish wealth before the end of 2025 when Trump’s 2017 estate tax cuts are set to expire. Families with a net worth of approximately $10 million or higher are working with their advisors to find opportunities to make...
Estate, Wealth & Succession Planning
Tax-Savvy Strategies for Passing Wealth to Grandchildren
With the implementation of the Secure Act's new rules for inherited retirement distributions, older Americans are facing the challenge of finding ways to pass assets on to their grandchildren without a large tax bill attached. This law, which took effect in 2020,...
Treasury Provides Temporary Relief from 401(k) Catch-up Contributions Rollback
Background The Secure 2.0 Act (Secure 2.0), a sweeping retirement bill included in Division T of the Consolidated Appropriations Act of 2023, was a major bipartisan accomplishment of the 117th Congress. The bill included 82 provisions to expand coverage and increase...
FAQs: Steps to Take When a Loved One Passes Away
Losing a loved one is one of the hardest things we will ever have to go through. Unfortunately, it is a reality we all face at some point in our lives. During this time of grief and confusion, it can be overwhelming to try and figure out what needs to be done next. As...
Will Medicaid Pay for Assisted Living?
People are living longer than ever. For many, there will come a time when they need some amount of help to live. There are home health services and nursing home care, which are both covered by Medicaid. However, many people need services in between in an assisted...
Is a Hand-Written Will Valid in Ohio?
Lately, more and more Americans are learning the importance of having an estate plan in place due largely to growing inflation, yet a surprising few of them have actually taken the steps to write one out. A 2023 survey conducted by Caring.com found that only 34% of...
Will the Corporate Transparency Act Affect Estate Planning?
The Corporate Transparency Act of 2020 (CTA) passed through Congress on Jan. 2, 2021. The CTA was enacted to prevent companies from being able to conceal ownership of businesses where concealment could facilitate illicit activity such as money laundering, financing of...
New Ohio Postnuptial Agreements and Estate Planning
For more than 130 years, Ohio has strictly prohibited postnuptial agreements and spouses were not able to enter into agreements with each other that altered their spousal rights. Additionally, Ohio has restricted amendments and termination of prenuptial agreements....
Major Shift in Ohio Law Now Permits Postnuptial Agreements
In a major shift in Ohio law, Ohio spouses are now legally permitted to enter into postnuptial agreements as of March 23, 2023. After a long history (more than 130 years) of rejecting postnuptial agreements, Ohio joins 48 other states in allowing parties, after...
FDIC Insurance: What to Know Following Silicon Valley Bank Closure
Federal regulators took over Silicon Valley Bank after shutting it down on Friday – two days after SVB’s announcement that it had lost almost $2 billion in Treasury bonds. The bank, which caters to many of the world’s most powerful tech investors, is the largest to...