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...
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...
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...
Create a System If you have a child with special needs, you need a system in place. This allows your designated individual to follow the system you have created. Create a document with important personal information. This includes full names, social security numbers,...
Election day 2020 is just around the corner. As we know all too well, trying to predict election results can be an exercise in futility. Estate planning clients need their trusted advisors to timely counsel them on how the election may impact their legacy planning....
A common question from clients is: how do I protect my assets, usually from a lawsuit? My answer: Get liability insurance Max out your retirement accounts Compartmentalize assets through LLCs Create an asset protection trust The key to asset protection is that you...
As we enter the new school year with so much uncertainty, it is even more critical to make sure your college-aged children are prepared for anything. The last thing your student is thinking about is an estate plan, however, these documents are necessary in an...
The term “grey divorce” refers to the societal trend among people who are age 50 and older that has seen an increase in the divorce rate of older couples who have been married for a long time. Grey divorces are now estimated to account for 25% of all divorces, and the...
In late March of 2020, the CARES Act was enacted in response to the Coronavirus pandemic. This law made a critical change for individuals receiving a Required Minimum Distribution (RMD) from a defined contribution plan such as an IRA, 401(k) or 403(b) plan......
Instagram, Facebook, Twitter, LinkedIn, YouTube and TikTok – influencers are using these social media platforms in the approximately $10M influencer industry. By 2022, this industry is expected to rise to approximately $15M. Influencers do not hold traditional jobs or...