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Estate planning in today’s modern world requires planning for not only traditional assets but also digital assets. To properly plan it is important that you let your estate planning attorney know what digital assets you own.
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In February of 2022 the IRS issued proposed regulations on its interpretation of the SECURE Act as it relates to distribution rules for inherited qualified retirement accounts. Planning for qualified retirement accounts is an important component of a comprehensive estate plan.
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A common misconception in estate planning is thinking that having a Will (and just a Will alone) allows an estate to avoid probate. This is not true. To the contrary, a Will is a probate document and is only used when an estate goes through probate. Additional estate planning is required if you w
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A frequently asked question when discussing estate plans is "who will inherit my assets if all my named beneficiaries die before me?” Ultimate taker provisions direct who would receive your assets in a doomsday scenario. We all hope that ultimate taker provisions will never be needed, but it is impo
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Receiving a tax notice from the IRS can cause your heart to skip a beat, but it shouldn’t. The IRS computer systems automatically generate many types of letters, and often are sent in error. So, if you get a letter from the IRS, there’s no need to panic. Instead, stay calm and carry on as follows.
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More business filing requirements are on their way, and even the smallest of businesses may need to comply. Penalties for failure to comply are expected to be $50 per day (capped at $10,000) and up to two years imprisonment.
Meet with a knowledgeable attorney who specializes in your area of law.