Yes, you do, and here’s why… Please allow us to be frank. It’s unrealistic to think that a piece of paper you draft, reflecting your life at a certain time, will work when you life has completely changed some years later. We’ll use the (fictional) Kendrick family as an example: Meet the Kendricks… Meet Bill…

“Get your affairs in order” – Five words no one ever wants to hear from their doctor. Unfortunately, 58 percent of Americans do not have a will or trust, and it often requires a chronic disease or terminal illness diagnosis, or other life-changing event to prompt the estate planning process. Talk to your attorney –…

It’s that time of year again: tax season. No one enjoys doing their taxes, and that is likely why many of us leave this tedious task to the last … possible … moment. As “Tax Day” approaches, millions of Americans are likely scrambling to track down all of their important documents to meet the April…

There are several reasons why you should update your existing trust or perhaps your entire estate plan. While estate planning documents do not necessarily have a shelf life, they may not fulfill your goals when your circumstances change. Of course, having estate planning documents that are up-to-date is critical, but how do you know when…

IRS Issues Final Section 199A Regulations and Defines QBI Your ownership of a pass-through trade or business can generate a Section 199A tax deduction of up to 20 percent of your qualified business income (QBI). The C corporation does not generate this deduction, but the proprietorship, partnership, S corporation, and certain trusts, estates, and rental…

If your business made payments to or received payments from independent contractors and entities (other than compensation to your employees) during the calendar year, it’s likely you must file an information return called a Form 1099 with the IRS. You may also need to send a copy of the form directly to the recipient of…

Sadly, most Americans are indifferent to estate planning – at best – or completely ignore the issue – at worst. When it comes to estate planning, however, there are just some mistakes that you cannot afford to make. Below are five of the most critical estate planning mistakes: Not having any estate plan. This is…

Confused about the differences between wills and trusts? If so, you’re not alone. While it’s always wise to contact experts like us, it’s also important to understand the basics. Here’s a quick and simple reference guide:  What Revocable Living Trusts Can Do – That Wills Can’t Avoid a conservatorship and guardianship. A revocable living trust allows…