Archive for July 2024
Embrace Responsibility and Light the Way Forward
We are in charge of our lives, so we must own that reality and take responsibility for it. Too often we hear, “it’s not my fault,” or “I am not responsible.” The reality is opposite. Yes it is and yes you are. Sure there will always be things that are out of our direct control.…
Read MoreEstate Sunset for 2026: What You Need to Know
As we approach the end of 2024, it’s crucial to be aware of significant changes on the horizon that could impact your estate planning strategy. One of the most notable changes is the estate tax exemption, commonly referred to as the “estate sunset” set for January 1, 2026. Understanding these changes and planning accordingly can…
Read MoreNew Laws for Small Business Owners
As of January 1, 2024, new regulations mandate that certain small businesses in the United States must file Beneficial Ownership Information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN). Here’s an overview of the critical steps and requirements for compliance: Who Needs to File? Reporting Companies: Exemptions: Some entities are exempt from these reporting…
Read MoreThe Rising Cost of Long-Term Care
Do you have a family member or client who is receiving some form of long-term care? If you don’t, the chances are good that someday you will – and that day may not be too far away. As the U.S. population ages and life expectancies increase, the need for long-term care is becoming an important…
Read MoreMid-Year Check-Up: Is Your Estate Plan on Track?
As we reach the halfway point of the year, it’s a perfect time to revisit your estate plan and ensure everything is on track. Life can change rapidly, and your estate plan should evolve accordingly to protect your family’s future and reflect your current wishes. Here are five key areas to review during your mid-year…
Read MoreEvery Parent’s Legal Checklist to Complete Before Sending Your Young Adult Off to College
As your child prepares to embark on the exciting journey of college life, there are numerous tasks to handle—packing, arranging accommodations, registering for classes, and more. Amidst all the excitement, one crucial aspect often gets overlooked: legal preparedness. Ensuring your young adult has the right legal documents in place can save a lot of trouble…
Read More10 Must Do’s Before You Leave For Vacation
Going on vacation is super exciting, but there are a few important things to take care of before you go. Here are 10 things you MUST do to ensure your trip is smooth and worry-free: 1. Purchase Travel Medical Insurance If you are going on vacation internationally or going on a cruise, make sure you…
Read MoreWhich life events that require an immediate estate plan update?
Estate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your death. One commonly known purpose of estate planning is to minimize taxes and costs, including taxes imposed on gifts, estates, generation skipping transfer and probate court costs. However, your plan must…
Read MoreSharing Financial and Legal Information with Your Family
Every family has its own approach when it comes to talking about financial and legal information. Estate planning attorneys in Orange County and Los Angeles County see everything from very open and transparent situations to those where discussions of money are considered taboo. In reality, families which are at the estate planning phase should be having…
Read MoreWho Will Inherit Your Financial Wisdom?
Many people who inherit wealth or small businesses are at significant risk for essentially squandering the wealth. An Ohio University study shows that an astonishing 33 percent1 of all beneficiaries lose their entire inheritance within two years of receiving it. The ways they manage to do so are as varied as the imagination, but in…
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