The link between wealth management and tax-related services is strong and growing stronger every year. For those who are either building an estate plan, making decisions about yearly gifts, establishing trusts, or partaking in special needs planning, it can be crucial to think about how yearly taxes will change based…
Articles Posted in Estate Planning
CTA Ruled Unconstitutional: What Should Business Owners Do Now?
In a March 1, 2024 ruling, the U.S. District Court for the District of Alabama deemed the Corporate Transparency Act (CTA) unconstitutional. In the wake of this decision, small business owners are asking how the ruling will affect their businesses and how they should move forward in alignment with the…
Will Contracts: What You Need to Know
The world of estate planning is a complicated one, and the sheer number of tools available to those creating, enforcing, and challenging a will or trust can be overwhelming. One of the goals of this blog is to break down some of these tools for you, so that you can…
Make Estate Planning Your New Year’s Resolution in 2024
Do you have a 2024 resolution? Have you thought through this year’s goals and priorities? The best place to start could be a place you hadn’t considered: estate planning. Time and time again, we speak with clients and prospective clients that put off estate planning for the “later” stages of…
The Colorado Privacy Act: What You Need to Know
Online and elsewhere, Coloradans have been buzzing about the Colorado Privacy Act, which represents our state’s successful push to pass broad consumer privacy legislation and protect individuals as they share their personal data (whether intentionally or unintentionally). The Act is good news for the state, and today we take some…
Your Taxes May Be Lower in 2024
In the past few years, inflation has surged. From groceries to gas, the cost of goods and services has increased in virtually every area of life. As the cost of living has skyrocketed, your income may not have kept pace with rising prices. This is of critical importance for those…
How to Plan Your Estate During Rising Inflation
As inflation has risen, many Americans are all too familiar with the increased cost of living. However, one overlooked effect of inflation is the rate at which estates and gifts are taxed. Estate taxes, gift taxes, and the valuation of real property in a decedent’s estate can all depend on…
Factors to Consider When Appointing a Professional Trustee
When you are choosing a trustee to handle your estate, a professional may be the best option. Professional trustees are experts in managing trusts, and they have no conflicts of interest with your beneficiaries. However, not all professional trustees are alike. They can take the form of banks, trust companies,…
Considerations for Family Member Trustees
Adult children often want to ensure their parents are cared for and protected. If your parent is sick or elderly, you may have questions about the best way to protect their assets while they are alive. Consequently, you may decide to talk to your parent about initiating a trust and…
Choosing Trustees: Should You Put Your Child in Charge of Your Life?
Choosing a trustee can be just as important as establishing a trust itself. Often, an individual will designate their child to help administer their plan for the trust. Clients may believe that appointing their child as a trustee will save them the expense of hiring a professional fiduciary. However, in…