Starting on January 1, 2024, under a new law called the Corporate Transparency Act (CTA), owners of certain business entities must file a report with the federal government, including details regarding the ownership of their entity. The CTA was enacted to help combat...
Passing wealth to the next generation requires thoughtful planning. Whether you're transferring assets to children and grandchildren, gifting money, or reducing taxes, the process involves decisions that affect your legacy. Here’s how to avoid common mistakes while...
Many people think that time is running out for them to save. Most Americans (66%) worry that it will be too late for them to have a comfortable retirement if they don't increase their retirement savings soon. This is up from 61% last year, reports Forbes’ recent...
The King of Rock and Roll, Elvis Presley, is an icon who conquered the music industry with his talent and charisma. He still has a loyal fan base who remember the "King of Rock and Roll" with the same passion and interest as they did in his lifetime. However, it's not...
In today's digital age, estate planning goes beyond physical possessions. As technology evolves, our online presence becomes integral to our lives. From social media accounts and email inboxes to cryptocurrencies and cloud storage, we accumulate a wealth of digital...
Since 2000, the national median age in the U.S. has increased by 3.4 years, with the largest single-year gain of 0.3 years in 2021, when the median age reached 38.8 years. This may seem young compared to the life expectancies of older Americans. However, the median...
AARP’s recent article entitled “10 Things Medicare Doesn’t Cover” lists some essential needs for seniors that Medicare doesn’t cover and some ways to pay for them. Opticians and eye exams. Original Medicare covers ophthalmologic expenses, such as cataract surgery. It...
If you have recently lost your job, you are not alone! Inflation has skyrocketed in the United States over the past couple of years. Some smaller businesses have been unable to survive the increased expenses, putting employees out of work, while many larger companies...
Spring is associated with renewal, and as the weather gets warmer, many homeowners turn their attention to renovation projects. Each May, the home remodeling industry and the National Association of Home Builders (NAHB) celebrate National Home Remodeling Month. 2023...
We often hear that certain politicians or lottery winners have a blind trust. But what is a blind trust, how do they work, and who typically needs one? In a typical trust, the trust maker (the grantor or settlor) establishes a trust and names a trustee (or...
When getting your estate plan in order, one tool to consider that can help safeguard your wealth and secure it for your family's future is a limited liability company (LLC). This strategy can help reduce the size of your estate and minimize estate taxes. An LLC...
When it comes to estate planning, the process can feel overwhelming, but it’s one of the most important steps you can take to protect your family and hard-earned assets. Whether you’re just starting out or updating your plans, having a comprehensive estate plan in...
