Estate Planning Blog Digest

The Great Wealth Transfer” is a significant event affecting millions of families. Proper estate planning is crucial to navigate this transition smoothly and to preserve your legacy.

The Stretch IRA isn’t what it used to be. However, a Charitable Remainder Trust could be the right way to secure your family’s future.

On March 1, 2024, in National Small Business Association, et al. v. Janet Yellen, et al (“National Small Business Association v. Yellen”), Judge Liles Burke of the United States District Court for the Northern District of Alabama issued an order declaring the CTA unconstitutional. At this time, only the plaintiffs in this case are excused from the CTA reporting requirements. All other business entities should continue to comply with the CTA.

Death and money aren’t fun subjects to bring up over dinner. However, families who make time for that awkward chat now can spare deep regrets and potentially millions in lost dollars.

Your business, likely your most valuable asset, deserves careful consideration within your estate plan to ensure a smooth transition of ownership and management in the event of incapacity or death.

Establishing a family trust can be a crucial step in protecting your assets and ensuring the financial well-being of your family. If you’re considering setting up a family trust, contact an experienced estate planning attorney to explore your options and create a plan tailored to your needs.

Nevada small business owners will have one more item on their compliance to-do list with the new Corporate Transparency Act (CTA) which became effective January