As cryptocurrency becomes more mainstream, it is critical to have a plan in place for these assets. More and more frequently, we hear stories of crypto millionaires and billionaires and celebrities endorsing crypto. We also hear stories of individuals with millions or...
Estate, Wealth & Succession Planning
The Biden Administration’s 2021 Proposed Tax Policy: How to Prepare
A great degree of uncertainty surrounds proposed tax policy changes expected from the Biden administration. However, during the 2020 campaign, President Biden provided some insights on his tax legislative agenda from which to approach this uncertainty through...
Estate & Tax Planning Considerations for 2021 and Beyond
WebinarPresented: March 18th, 2021 KJK's Kevin Lenhard, Demetrius Robinson and Huntington Private Bank's Stephanie Kormanec discuss estate and tax planning in 2021. About this Event Most estate plans have been designed to minimize estate tax, and a change in the law...
Estate Tax Closing Letters
Due to reductions in personnel being physically located at IRS Service Centers, review of tax filings and the associated responses and information normally provided by the IRS are severely delayed. This is certainly true for any taxpayer who filed an estate tax return...
Estate Planning Resolutions for 2021
Despite the unpredictability of last year, 2021 may be the best opportunity to finalize or revise your estate plan. Estate planning involves outlining your wishes for your assets and responsibilities in case of incapacity or death. This plan involves anything you own...
Yellen Projects Tax Increases To Be Phased in Slowly
In an interview last week on CNBC, U.S. Treasury Secretary Janet Yellen said that tax increases would be needed to pay for at least part of a large infrastructure, climate and education investment package that President Joe Biden plans to introduce later this year....
Impact of the Georgia Senate Runoff Elections
The eyes of the political world were squarely on Georgia on Tuesday, January 5th for the runoff elections for both of Georgia’s U.S. Senate seats. At stake was control of the Senate and, consequently, President-elect Joe Biden's ability to move his policy agenda...
Tax Policy Overview: Trump v. Biden
Tax policies are always a hot topic in presidential elections. Below, we provide side-by-side comparisons of where the presidential candidates stand on income (corporate and individual) and estate taxes. In short, President Trump’s plan seems to be to extend the 2017...
Proposed Retirement Bill Would Benefit Seniors & Student Loan Borrowers
The Chairman and Ranking Member of the House Ways and Means Committee introduced this week the “Securing a Strong Retirement Act of 2020.” The bi-partisan bill provides a number of changes to the country’s current retirement system. These include: Raising the age at...
The Legacy of a Special Needs Trust: The Distribution of Assets After a Beneficiary’s Death
Special Needs Trusts (SNTs) are created for the benefit of a disabled beneficiary to enable them to retain assets and receive much-needed public benefits. These assets supplement their public benefits by allowing the special needs individual to purchase items that are...