Legal Insights & Updates

Valid Forms of Wills: Exploring Traditional and Modern Approaches, Including Text Messages and Phone Calls Wills are essential legal documents that express a person’s final wishes regarding their estate, from distributing assets to appointing guardians for dependents. Traditionally, a will had to be in writing, signed, and witnessed to be legally valid. However, in today’s […]

When planning your estate, naming beneficiaries can seem like a straightforward way to ensure your loved ones are taken care of. Whether it’s for life insurance policies, retirement accounts, or bank accounts, designating beneficiaries can bypass the probate process and speed up asset distribution. However, beneficiary designations, while efficient, come with their own set of […]

UPDATE: BOI Reports A new update has come out on the status of the Corporate Transparency Act (CTA). Context on the previous status of the CTA and details on what a Beneficial Ownership Information (BOI) report is can be found here. Due to a decision on the U.S. District Court case Smith v. U.S. Department […]

What it is: BOI stands for Beneficial Ownership Information. This is identifying information about individuals who own or control a company. The law that created the requirement to file these reports is called the Corporate Transparency Act (or CTA) and it was passed by Congress in 2021. It was created to reduce the ability of […]

The IRS levies an estate tax on the assets of high net-worth individuals. This tax is imposed on estates larger than $13.61 million (as of 2024). This $13.61 million exemption is applicable to each person. Therefore, a married couple must be worth $27.22 million before they owe federal estate taxes.

Estate planning can involve the use of a will and trusts. Learn about the differences in this post.