In times of economic uncertainty, estate planning becomes even more important than usual. With the COVID-19 pandemic and its impact on the global economy, many people have experienced financial setbacks and instability. In such times, it is essential to have a solid estate plan in place to ensure that your assets are protected and your […]
Why Estate Planning is Crucial During Economic Uncertainty Read more »
For individuals who own real estate, it is important to consider the best way to structure your ownership. When you are just starting out as an investor in real estate, you may hold title to the real estate personally, but that may not be the most advantageous method of ownership. Another option is to create
Considerations for Forming a Limited Liability Company for Real Estate Read more »
Short-term rentals are nothing new. For decades, homeowners have been renting out their properties in touristy areas to earn income. But with the advent of platforms such as Airbnb and VRBO, there has been an explosion in short-term rentals, including many in areas that were not previously considered travel destinations. The growing demand for short-term
Starting a Short-Term Rental Business Read more »
When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs – collect income, pay bills and taxes, save and invest for the future, buy and sell assets, provide for your loved ones, keep accurate records, and generally keep things organized and
How to Choose a Trustee Read more »
The use of endorsements and testimonials is commonplace in advertising. Advertisers frequently choose to feature the opinions of happy, satisfied customers, or influence potential purchasers through the use of celebrity or expert endorsers, and in more recent times social media influencers. However, it is important to know that certain uses of endorsements and testimonials may
SOCIAL MEDIA INFLUENCERS AND ENDORSEMENTS Read more »
Five years ago, cryptocurrency was probably not on your radar. Today, it may be an important investment in your portfolio. You could even own some nonfungible tokens (NFTs), which are powered by the same blockchain-based technology. Despite the dizzying fluctuations in the value of these assets, you should ensure that they are included in your
How Cryptocurrency and NFTs Fit Into Your Estate Plan Read more »
An estate plan often focuses on tangible property such as jewelry, artwork, money, and vehicles. However, in this age of technology, it is important to remember to include your digital assets. Digital assets consist of everything we own online. Because we spend more time on computers and smartphones than we ever did before, you may
Planning for Your Digital Legacy Read more »
Whether you are a physician or not, you probably know that the practice of medicine is a profession fraught with liability. It’s not just medical malpractice claims either – employment related issues, careless business partners and employees, contractual obligations, and personal liabilities add to the risk assumed by a physician in private practice. Unfortunately, in
Four Liability Planning Tips for Physicians Anyone Can Use Read more »
A SLAT is an irrevocable trust created by one spouse for the benefit of the other spouse, who is the beneficiary of the trust. SLATs can be used to protect the assets held by the trust from creditors and to minimize the federal estate tax. In a typical SLAT, the creditors of the donor spouse
Spousal Limited Access Trust (SLATs) Read more »
There are many expenses incurred in starting, running, and growing a business. Luckily for business owners, many of these expenses can be deducted. Knowing which expenses you can deduct helps to lower your tax burden and keep more money in your business. However, inflated business tax deductions can attract the attention of the Internal Revenue
Most Common Tax Deductions for Small Businesses Read more »