Have you heard of “Swedish Death Cleaning” -- or döstädning -- the concept of decluttering and organizing one's possessions before passing away? This practice has gained popularity in recent years, and it can be a helpful tool in preparing for the end of life, as well...
When I broached the subject of my parents’ estate plan, hoping to learn more about where their accounts, passwords, policies, and other important documents were, I was a little nervous. It can be a very delicate conversation between parents and their children. Knowing...
The internet has made life much easier in a lot of respects. When it comes to putting together a contract, or terms and conditions for a new website, or even a Will, a lot of entrepreneurial thinkers will say to themselves – there must be a form for that, right? Why...
It is not uncommon for clients to show me balance sheets which hold a few primary large dollar assets – these are usually real estate, life insurance policies, and retirement accounts. Because of the specific rules which govern inherited retirement accounts, and in...
As a business owner, your attention is focused on the here and now – what do you need to do to not only keep the doors open, but to excel in your field? It is not surprising, then, that as many as 72% of small businesses don’t have any form of succession plan in place...
Estate planning involves appointing a number of individuals to play fiduciary roles, sometimes during your lifetime and sometimes after your death. It is important that you and your appointed representatives understand (1) what fiduciary obligations they have (2) who...
An estate plan is an essential part of your financial plan, as well as an important path to ensuring your family is cared for if something happens to you. If you own your dental or medical practice, your estate plan may also play a key role in planning for the future...
The changing tax landscape, along with the stress on financial markets due to the pandemic, creates both risks and opportunities from an estate planning perspective. Although it is still unclear what appetite there is for tax reform, and how extensive any proposed...
Your business interests are an important asset not only to you and your family, but also your employees. If something were to happen to you, is there a plan in place for your business? A carefully drafted estate plan, along with appropriate corporate succession...
Less than half of American adults have a will, according to recent surveys, although that number may be climbing due in part to concerns regarding the COVID-19 pandemic. Without a will, state law will govern who receives your assets and what assets they receive....
This October the IRS released its first guidance regarding the tax rules on cryptocurrency in 5 years. The ruling discusses how the IRS treats “hard forks” and “airdrops” in cryptocurrency, an area with a lot of uncertainty. Specifically, we have lacked guidance on...
What exactly is tax evasion? You cannot turn on the news these days without hearing references to this “crime.” Tax Evasion Defined According to 26 USC § 7201, tax evasion: is defined as the willful attempt in any manner to evade or defeat any tax imposed by Title 26...
In this day of rapid fire indictments and complex criminal and political investigations, a classic oldy but goody of criminal prosecution has been resurrected – indictment by the IRS for tax evasion. Brought vividly to life in Brian De Palma’s 1987 classic gangster...
It’s a tricky business being a professional sports agent – especially when its comes to representing student-athletes. To protect student-athletes and educational institutions, the Uniform Athlete Agents Act (UAAA) – and its 2015 revision – require athlete agents to...
