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The rules in the 2017 Tax Cuts and Jobs Act (TCJA) went into effect on January 1, 2018 and will expire on December 31, 2025. That means you will start to see the effects of these mandates on your taxes as we begin tax season. Here is a brief look at a few changes to…
Stan Lee was known for co-creating iconic characters such as Spider-Man, Captain America, and the Fantastic Four. These creations helped the man build a fortune in addition to touching the lives of people all over the world; however, his legacy could be in danger thanks to past financial mistakes and individuals trying to take advantage…
Have you invested in cryptocurrencies over the years? These alternative forms of money have become truly valuable assets in recent years as their market values have risen. But have you considered what will happen to those digital assets after you have passed? If you’re not careful, your beneficiaries could get stuck in probate litigation, or…
Advance directives or Living Wills are special legal documents someone uses to state his or her wishes involving medical care. These documents can provide a written plan for your medical care if you can no longer make these decisions for yourself. These plans can include a Do Not Resuscitate Order, a medical power of attorney,…
Lesson #1: Don’t Forget About It It is recommended that you review your estate plan at least every three to five years; however, a lot of people will set up an estate plan, then forget about it. When famous actor, Philip Seymour Hoffman, died, his estate plans had not been updated for 10 years. Within…
Simply speaking, a CHARITABLE REMAINDER TRUST (CRT) is a trust established to provide income to one or more persons for a term of years (which could be for life), with the remainder to a charity. The CRT distribution of income can be structured either as an annuity (CRAT) or as what is known as a…
Simply speaking, a Donor Advised Fund (DAF) is an account held by a public charity, which, by agreement with the public charity is distributed out over time to charitable institutions upon the advise of the donor. The DAF is the “poor man’s” substitute for the private foundations established by the very rich. Most public charities…
Having a living will, or a legal document that states your desires surrounding end-of-life medical care, will be dependent on what you believe you will need in the far future should you become sick or injured. This differs from a last will and testament, which distributes your property after your death. Further, living wills are…
It seems like not too long ago we never had to worry about the security of our identities. The concept of our very names being taken and misused for someone else’s gain was unimaginable, but now we live in the information age. The importance of having your good name in today’s digital world now has…
Have you watched the hit HBO show Silicon Valley? It’s a comedy about a young coder, Richard Hendricks, who designs a revolutionary algorithm, and decides to use that coding to startup his own IP. Along the way, he schmoozes investors, recruits talented employees, and fights off the advances of his competition all while dealing with…
