This is an unprecedented period of time as the COVID 19 virus continues to affect lives and businesses across our nation. Amid the uncertainty, proactive steps should be taken to be prepared and provide peace of mind. Ensuring important legal documents are in place and making crucial decisions in advance are steps every person should take to prepare for any time in which you can no longer make your own decisions. It is also important to have a plan in place for any minor children or other loved ones are dependent on you for support.
This year, the SECURE Act (Setting Every Community Up for Retirement Enhancement Act) took effect. The SECURE Act makes several big changes that affect retirement accounts. Understanding the SECURE Act is imperative to ensure your estate plan is up to date and that your estate planning goals are accomplished.
Are you looking for the perfect gift for your adult children or other family members? You may want to consider giving the gift of estate planning.
Deciding between joint and separate trusts can be quite confusing. Many factors play into which trust is more suitable. These factors include: how the couple’s assets are titled, the relationship of the couple and the state in which the couple resides.
National Estate Planning Awareness Week was adopted in 2008 to help the public understand what estate planning involves and why it is a vital component of financial wellness. This year, National Estate Planning Awareness Week takes place October 21 – 27 and encourages all to be mindful about the future for themselves and their families by creating a comprehensive estate plan.
Do you have a child who is eighteen years of age, or nearly eighteen? If so, it's time to start planning! All eighteen-year-olds need to have their own estate plan that includes a General Durable Power of Attorney, a Health Care Power of Attorney, an Advance Directive (“Living Will”), and a HIPAA Release. Read more below about each document and why they are important for your future grad to have:
A donor-advised fund, also known as a DAF, is a great way to donate to various charitable organizations without going through mountains of paperwork, all the while minimizing your taxes through deductions. It also offers tremendous flexibility for post-death giving, specifically if the DAF is funded while you’re still alive.
As the number of vulnerable adults increases each year, the prospects for elder abuse and exploitation increases with it. Our office has witnessed a spike in the number of cases involving vulnerable adults in the past year, and we anticipate that number to continue to climb as the children of this population begin to recognize the need.
Kevin Durant broke our hearts in Oklahoma City yesterday with his announcement to take his game to California and join the Golden State Warriors. He said all along his decision would be a “basketball decision,” and he must have meant it because the tax consequences for his “basketball decision” could exceed $1 million a year for him. Durant could have saved a pretty penny by remaining in Oklahoma City.