Name, Image, and Likeness (“NIL”) Collectives, the Jock Tax, and Student Athletes

On June 21, 2021, the U.S. Supreme Court in NCAA v. Alston unanimously upheld the 9th Circuit Court ruling that student athletes can be compensated for use of their name, image, and likeness, typically referred to as NIL.[1] Examples of NIL include autographs, personal appearances and promotions, and modeling of sports or non-sports apparel. Ten […]

Family Businesses and Succession Planning: What is Involved?

If you have a family business, even if you are ten or fifteen years away from retirement, it is time to begin planning your exit. If you plan to work in the business indefinitely, planning is nevertheless necessary, because you need to plan for what will happen to the business if you become incapacitated or […]

Advisors Take Note: SEC Proposes Sweeping Changes to Custody Rule

By Natalie Roberts On the horizon is a potentially cataclysmic shift in the rules for custody of investments managed by investment advisers. On February 15, 2023, the Securities and Exchange Commission (“the Commission”) issued  Release IA-6240 (the “Issuing Release”), announcing it proposes to amend Rule 206(4)-2 of the Investment Advisers Act of 1940 (“Advisers Act”), […]

Important information Concerning Income Taxation of Digital Assets

digital currency symbol in safe

The Infrastructure Investment and Jobs Act[1] (Infrastructure Act) amended provisions in the Internal Revenue Code (the Code) to improve tax administration and tax compliance with respect to trading and investing in digital assets. The amended provisions in the Code require “brokers” to report information on transactions in digital assets, meaning cryptocurrencies, NFTs, and other crypto-assets. […]

Control of Your Digital Assets After Death- Warning!

someone posting on social media

If you sign up for a program offered by Google, Apple, or other tech companies for management of your accounts in the event of death or incapacity,  the terms of their program will cancel out any directions you include in your will, trust, or durable power of attorney. Here are the details: Companies like Facebook, […]

New Reporting Requirement for Businesses

business owner filing paperwork

Do you own an LLC or a corporation that was created by filing with the Secretary of State, Division of Corporations? Do you plan to create a new company?  If so, you may be subject to a new federal rule requiring such companies to file a report with the U.S. Department of Treasury, Financial Crimes […]

When Should You Have Your Estate Plan Reviewed?


You may have put your estate plan in place as long ago as the 1980s or 1990s. Most people seem to believe that once the documents have been signed, everything has been completed and the plan will work as expected. In fact, both state and federal laws have changed since then, and thousands of lawsuits […]

Personal Guarantees: What They Are and When They Are Required?

Your new business needs a capital infusion to get off the ground. The only problem is that a new business is not established enough to have generated a business credit report. It may also be lacking assets that can be used as loan collateral. Without a business credit report or business assets, lenders cannot judge whether your company […]

Why You Should Consider Putting Your LLC into a Trust

The limited liability company (LLC) is a popular business structure that offers liability protection and avoidance of double taxation. Trusts are popular asset transfer vehicles that allow you to avoid probate and keep assets out of the hands of creditors. By placing LLC membership interests in a trust, business owners can combine the two types […]

Estate Planning for Crypto-Assets Part 2

This is Part Two of a two-part blog. Part One was designed to educate readers about crypto-assets and the lexicon of associated terms. Part Two is a discussion of the challenges of estate planning for crypto-assets and some ideas for overcoming those challenges. 1 A set of unique challenges arise when it comes to estate planning […]