Running your own business can be financially empowering and personally liberating, but it comes with a number of obligations that you must uphold. One of which comes in the form of tax obligations, something that you must meticulously plan for throughout the year....
Month: August 2021
What type of trust is right for me?
Creating a trust helps ensure that the right people receive your assets upon your passing. While you may already know that you want to opt for a trust rather than a will or other arrangement, you may not have considered the many types of trust you have to choose from....
Who should have an estate plan?
When you hear about estate plans, you probably think that they are primarily for wealthy individuals, but that is not the case. In fact, estate plans are beneficial for most adults, and for good reasons. Here are some of the situations in which an estate plan is...
5 reasons to create an estate plan now
Proper estate planning allows you to make personalized, informed decisions about your health, assets and other goals. You can look after yourself, your family and your business while meeting your financial goals. You can avoid mistakes and make informed decisions...
Navigating the probate process
If someone in your life has recently passed away, you could find yourself involved in the probate process. Probate courts oversee the distribution of estates. For some, probate can be confusing and stressful. Understanding the purpose of probate and how it works can...
Choosing a trust to suit your needs
Trusts are popular estate planning tools for avoiding lengthy probate. They can also benefit grantors during their lifetime. Irrevocable and revocable trusts have the versatility to benefit individuals at all income levels. Irrevocable trust Irrevocable trusts are...
What happens if you make a mistake on your tax return
Every year, Congress makes changes to the tax code, and keeping up with these changes can be challenging even for tax professionals. Therefore, if you complete your own taxes, you may inadvertently make a mistake. This is what happens if you make a mistake on your...
3 tips for picking a guardian for your child
Part of the estate planning process involves naming a legal guardian for your children. This person would step in and care for your children in the event that you unexpectedly pass away. According to the Judicial Branch of California, legal guardianship is a form of...
What should retirees consider while starting estate planning?
As you get closer to retirement, you may begin to wonder more about what to do for estate planning. Organizing and making plans for what you want to happen to your assets and savings after your death can help you feel secure. Think about what you want According to...
3 ways a tax attorney can help you
Tax law is complex, and there are several times throughout your life you may want to seek the services of a tax professional. Here are a few key scenarios where a tax attorney's knowledge is useful. 1. Setting up estate plans Tax attorneys are well-equipped to answer...