Dealing with the loss of a loved one is never easy, and managing their estate can feel overwhelming. In some cases, however, probate may not be necessary. Probate is the legal process through which a deceased person’s assets are distributed, but if the...
When a loved one passes away, one of the first questions that often arises is whether probate is necessary. Probate is the legal process through which a deceased person’s estate is administered, debts are settled, and assets are distributed to beneficiaries. However,...
Most 529 plans do not allow joint ownership, meaning only one person can be the account owner, even if the owner is married. So what happens if the account owner dies? The distressing answer is that the account would be tied up in probate unless a successor...
A Beneficial Ownership Information Report (BOIR) Must be Filed by the End of 2024 by Most Small Business. Failure to Comply Could Result in Substantial Penalties. See if this applies to you. Following the enactment of the Corporate Transparency Act (CTA) in 2024,...
A Strategy to Protect Your Assets When planning for the future, ensuring your loved ones are taken care of is paramount. One aspect of estate planning that often goes overlooked is the impact of life insurance policies on estate taxes. Many individuals are unaware...
