New Ownership Reporting Requirements May Apply to You
Beginning this year, owners of small businesses must comply with the reporting requirements of the Corporate Transparency Act (CTA). This important legislation requires most owners and managers of closely held corporations, limited liability companies (LLCs) and limited partnerships (LPs) to report … Continue reading
New Year, New Thresholds for Estate Planning
Tax Benefits and Savings Opportunities Each new year, the federal gift and estate tax exemption is adjusted based on inflation. For 2024, the exemption increased from $12,920,000 per individual to $13,610,000 per individual. A married couple can give up to … Continue reading
National Estate Planning Awareness Week: October 19-25, 2020
By Margaret Menicucci, Attorney & Counselor Along with cooler weather, October brings National Estate Planning Awareness Week! This is the perfect time to think about the condition (or even existence) of your estate plan. Estate planning enables you to: protect … Continue reading
Planning for Your Disability to Protect Your Legacy
By Margaret Menicucci, Attorney & Counselor The most distressing situation that a client can bring to us is when an elderly or ill person has been taken advantage of financially by a third party who purports to be a friend … Continue reading
2020 Brings Dramatic Changes to Pay-out Requirements for Inherited IRAs and Retirement Plans
By Margaret Menicucci, Attorney & Counselor The pay-out requirements for people inheriting Individual Retirement Accounts (IRAs) and other retirement plans have changed dramatically. Legislation passed in late December of 2019, called the Setting Every Community Up for Retirement Act (the … Continue reading
Updating Your Estate Plan
By Margaret Menicucci, Attorney & Counselor This summer I moved a just-graduated adult child into her first apartment in a big city. Her adult life is taking shape as she takes the bus to work and the commuter rail to … Continue reading
The Importance of a Complete Will
By Margaret Menicucci, Attorney & Counselor I have never met a client who says they want their Will to distribute only a part of their estate, and then they want the family to figure out the rest through four years … Continue reading
Settling Into a New Estate Tax Environment
Settling Into a New Estate Tax Environment By Margaret Menicucci, Attorney & Counselor In my November 2nd blog, I reflected on the status of gift and estate taxation with the tax reform act looming in the background. The Tax Cuts … Continue reading
‘Tis the Season to Start Talking
‘Tis the Season to Start Talking By Margaret Menicucci, Attorney & Counselor My father passed away in 2010, after a long and meaningful life. Visits to my parents’ home were periodic because I live in a different state. In the … Continue reading
Federal Estate Tax Clarity Under New Reform
Federal Estate Tax Clarity Under New Reform By Margaret Menicucci, Attorney & Counselor You need a crystal ball to know how future tax reform will change current estate tax exemptions and rates. But, you don’t need a crystal ball to … Continue reading