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Category: Estate Planning

digital assets and your estate plan

digital assets and your estate plan

Digital assets are an increasingly important part of our lives. However, when it comes to estate planning, these items are most often overlooked. I recently read an article published by Fidelity on this topic. I would commend this article to everyone, whether you are a Fidelity client. It is free to read and contains useful […]

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Should you update your trust?

Should you update your trust?

If you already have a trust, you should be commended for your wise planning. However, as time passes and laws change, it makes sense to review and update your trust to ensure that it remains consistent with your goals. I spend a significant amount of my time each week reviewing legal documents drafted by other attorneys (and sometimes […]

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death of the death tax? what would repeal of estate tax mean for you and me?

death of the death tax? what would repeal of estate tax mean for you and me?

The Republicans have been talking about and working on repeal of the federal estate tax for years.  Now that Trump is on his way to the White House, there are many who believe that the federal estate tax (also known as death tax) will soon be a thing of the past. In theory and principle, […]

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Single Member LLCs–what, why and when?

Single Member LLCs–what, why and when?

What is a single member LLC and why would you want one? We have previously written a fair amount on LLCs generally, including what they are and why they can be useful legal entities. This post will focus on single member limited liability companies. As the name indicates, a single member LLC has one owner–and […]

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lenders and LLCs–rental property stuff

lenders and LLCs–rental property stuff

It is usually a good idea to own rental property through an LLC. As the name suggests, an LLC is designed to limit liability. Think of a limited liability company as a legal liability firewall vehicle. In other words, if some sort of legal claim arose from the operating of your rental property (say a […]

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The Special Needs Fairness Act is a welcomed change!

The Special Needs Fairness Act is a welcomed change!

Before this new law, there was a mistaken legal presumption law that disabled persons always lacked mental capacity to manage their own affairs.  While this is true in some cases, it is certainly not true in all situations. This new law is an excellent change in favor of the rights of disabled individuals. The US […]

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How long should you keep your tax records? IRS issues updated guidance

How long should you keep your tax records? IRS issues updated guidance

One of the “small talk” questions which I receive often is this very question: namely, how long are you and I required to keep copies of our tax returns and related records?   Yesterday, the IRS issued a statement which generally seems consistent with past practices (at least according to my understanding), with perhaps a […]

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The value of knowledge and experience–this applies in all areas of life

The value of knowledge and experience–this applies in all areas of life

Do you and I appreciate the importance of experience and expertise?  In this internet age, it is quite easy for us to believe that Google can make us an expert on just about anything.  While I am as much a fan of Google and other internet resources as the next person, I see quite often the […]

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Buy-Sell Agreements: Mistakes to Avoid (Part 2)

If you are in business, you almost certainly need to consider some sort of buy-sell arrangement. Don’t take my word for it, listen to the contributing writers are Forbes.com.  Though this article is not new, the applicability of the February 2011 article by Robert W. Wood, titled “In Business, Get a Buy-Sell Agreement!” has not […]

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Business Buy-Sell Agreements: Mistakes to Avoid (Part 1)

Business Buy-Sell Agreements: Mistakes to Avoid (Part 1)

If you are the owner of a family business or other closely held business, not having a buy-sell agreement may be a big mistake. Let’s get this out of the-way–I am a business law attorney who gets paid to work on things like buy-sell agreements.  Therefore, it is no surprise that I am talking about why […]

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