Both wills and trusts are estate planning documents that can be used to pass your wealth and property to your loved ones upon your death. However, trusts come with some distinct advantages over wills that you should consider when creating your plan. That said, when comparing the two planning tools, you won’t necessarily be choosing…

Though most entrepreneurs understand the value of effective business planning, fewer are aware of the critical role estate planning plays in their company’s success. Yet considering what would happen to your business upon your death or in the event of your incapacity is one of the single-most important things you can do for your business….

As you no doubt already know, on January 26, 2020, basketball legend Kobe Bryant was killed in a helicopter crash on a wooded hillside 30 miles north of Los Angeles. Also killed in the tragic accident was his 13-year-old daughter Gianna, and seven other passengers, who were friends and colleagues of Kobe and his family….

The Tax Cuts & Jobs Act (TCJA) made sweeping changes to exemptions, deductions, and credits for your family’s federal income taxes. But one major change that you might not have noticed is the way the law altered the potential tax consequences of divorce. Unlike child support, alimony payments have long been tax-deductible for the ex-spouse…

In the first part of this series, we discussed the potential ramifications the SECURE ACT has for your estate and retirement planning. Here, we’ll look more deeply into additional strategies you may want to consider in light of the new legislation. On January 1, 2020, the Setting Every Community Up for Retirement Enhancement Act (SECURE…

On January 1, 2020, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) went into effect, and it represents the most significant retirement-planning legislation in decades. Under previous law, those who continued working could not contribute to a traditional IRA once they reached 70 ½. Starting in 2020, the SECURE Act removed that…

These days, lots of people consider their pets to be members of their family. Indeed, pets can become our closest companions. As such, it’s only natural you’d want to make sure your furry friend is provided for in your estate plan, so when you die or if you become incapacitated, your beloved companion won’t end…

One of the hardest things to do as a human being is to acknowledge our mortality. Some people even seem to think that if they ignore their eventual death, it will not happen. This is risky behavior for anyone, but particularly for those who are parents of young children. If parents are the victim of…

The topic of estate planning is one that most people don’t want to talk- or think- about. Most of us don’t want to consider what is going to happen after we die, but it is critical to do so. Putting a plan in place will ensure that your family and financial goals are taken care…

The Limited Liability Company (LLC) is a fast-growing form of business in the U.S. In 2012, over 2 million LLC’s filed U.S. tax returns, and that’s just the LLC’s with more than one member. If you are considering forming an LLC, here’s what you need to know about this business form. What Is an LLC?…