Many entrepreneurs have complicated financial situations and may need both a CPA and an experienced estate planning attorney involved in the process of creating an estate plan. The main reason for including the CPA is that many entrepreneurs have business interests spread out over several different entities.
Asset protection planning involves strategies that protect certain types of assets from being exposed to future risks. Examples of those risks may involve divorce, creditors or lawsuits.
Wills are often dry, technical documents. However, they can be beautiful things. Wills can be beautiful, if done correctly and for the best intentions, according to Nasdaq in "A Will Can Be a Beautiful Thing."
It may be surprising that comprehensive estate planning also takes into consideration issues related to funeral and burial instructions. With the shocking costs of traditional burial arrangements, the option for cremation is thoughtfully considered during the estate planning process.
In addition to managing your own family’s finances, you may find yourself in the position of taking over for your aging parents, in-laws or other elderly relatives. This can be overwhelming, especially if there are a lot of assets to manage and several accounts to reconcile.
Many anticipated a huge baby boom resulting from pandemic lockdowns. Sociologist and demographer, Philip Cohen at the University of Maryland monitored the changes in family planning throughout the pandemic and found that the birth rate actually dropped.
Senior adults can be more susceptible to identity theft than others. Identity theft is a crime that is on the rise. It involves a criminal stealing personal identifying information to create a new identity or to steal money from the victim.
Tax basis is the amount of the taxpayer’s investment in a particular asset. The basis is used to calculate depreciation and amortization for tax purposes.
Coughing, sneezing and watery eyes can be greatly feared symptoms during the current COVID-19 pandemic, but during the spring, the culprit could simply be allergies. As pollen fills the air, seniors may find themselves struggling to breath and presenting with cold/flu/COVID-like symptoms.
