BIAT provisions can be added to almost all new and existing revocable living trusts, retirement benefit trusts and irrevocable trusts such as spousal lifetime access trusts (SLATs), irrevocable life insurance trusts (ILITs) and the like. We strongly recommend that you review your plan periodically and make updates as necessary. Failing to do so could result […]
Congress and the White House are spending the first half of 2023 debating how to handle an increase in the nation’s debt ceiling as the United States is more than $31 trillion in debt and counting. In addition, the deceptively-named Inflation Reduction Act of 2022 allocated funds for hiring 87,000 new agents for the Internal […]
For many of us, our beloved pets are an integral part of the family. There are emotional attachments and financial investments as well, especially with larger animals such as horses. Pet trusts are legal arrangements in which a person provides for the ongoing care of their pets after they pass away or become incapacitated. In […]
A Will provides the disposition of assets titled in your name to your chosen beneficiaries, who may or may not be your natural heirs. If nobody knows that you executed a Will, or if your Will cannot be found, or is hidden or destroyed, after your death, your Will does nothing. Take Prince, for example… […]
Establishing a trust can protect your assets and properly allocate your wealth and assets among your beneficiaries at the time of your passing. You may fear that merely transferring wealth will not promote positive behaviors or reinforce core family values. This is why you may want to implement an incentive trust. An incentive trust may […]
When your family suffers the loss of a loved one, emotions run high and it seems that everyone, or no one, knows what needs to be done with that person’s assets. Did they have a Will? Did they have a Revocable Living Trust? Was their home or their checking account titled jointly with someone? Did […]
Divorce requires compassionate guidance – not only to end the marriage, but divide property, debts, and deal with complex issues of custody, visitation and child support. A determined + caring team on your side can help make a difficult time in your life more manageable. Let us provide clear answers to tough questions and protect […]
Companies are expanding their use of unpaid internships by offering the opportunities to non-traditional individuals. While the classic profile of an intern is a college student participating in an unpaid internship as part of the curriculum of a course or to fulfill degree requirements, employers are being deluged with requests from individuals who have long […]
The Death and Disability Expense Funnel illustrates potential outflows and erosion of wealth due to taxes, fees and court costs. Your assets, which include the residence, commercial real estate, bank accounts, life insurance, investment accounts, business interests, retirement plans (i.e., IRAs, Roth IRAs, 401(k)s, Roth 401k(s), 403(b), etc.), and personal property, etc. – may be […]
Proposed Federal Rules Will Increase Misclassification Risks for Many Businesses The United States Department of Labor (DOL) has proposed new rules for determining whether a worker is an independent contractor or an employee. The new framework places increased scrutiny on business, making it much more difficult to lawfully classify workers as independent contractors. If the […]
