SECURE 2.0 Act

How It Affects You and Your Retirement Account Beneficiaries Introduction  Under federal law, our retirement accounts are allowed to appreciate tax-free inside the account until funds are distributed out, due to provisions in the Internal Revenue Code. At a certain age, the account owner is required to begin taking minimum distributions from his or her […]

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”), […]

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, […]

Post Honeymoon Checklist: be prepared for marriage

Your wedding is over, and the day was absolutely perfect. You went away on your honeymoon with your new spouse and had the time of your lives. Now you are back and can breathe a sigh of relief and watch the rest of the years ahead unfold before your eyes. Well, not so fast. Now […]

Power of Attorney: Protecting Your Wealth

elderly woman giving Power of Attorney

The wealth, property, and investments we accrue over a lifetime are often significant. While you have carefully managed your finances through the years, there may eventually come a time when you cannot handle such decisions. To plan for the likelihood that you are unable to manage your financial affairs, it is important to have everything […]

2021 Annual Inflation Adjustments Issued by IRS

On Monday, the IRS issued the 2021 annual inflation adjustments for many provisions in the Internal Revenue Code, together with the 2021 tax rate tables for individuals and for estates and trusts. Rev. Proc. 2020-45 increased the standard deduction for married individuals filing jointly or surviving spouses to $25,100. For heads of households, the standard […]

How Estate Planning Can Help You Dream About Your Future

Happy woman in Tampa, Florida

A dream without a plan is simply a wish. Estate planning is not just about death and taxes — it puts you in the driver’s seat of your financial life, allowing you to set achievable goals. It is a great opportunity to focus on the legacy you want to leave behind for loved ones, help […]

Saying “I Love You” With Your Estate Plan

Image of a healthy and happy family.

While saying the words “I love you” is indeed romantic, you should know that putting together a well-crafted estate plan is a concrete way to care for your family in the long run. This is because doing so will help prevent your surviving family members from scrambling to figure out what to do next while […]