Essential Asset Protection Strategies: 3 Smart Ways to Safeguard Your Wealth
Protect your wealth with essential asset protection strategies. Take these essential tips when you are planning to protect your wealth and your legacy.
What You Need to Know About the Corporate Transparency Act
Under the Corporate Transparency Act (CTA), which took effect January 1, 2024, many business entities including limited liability companies (LLCs) and partnerships are required to file reports with the Treasury Department’s Financial Crime Enforcement Network (FinCEN). In these filings, applicable businesses must disclose important information about their entity. However, recent developments have called into question the constitutionality of these requirements.
Passing the Torch: Business Succession Strategies You Need to Know
For many business owners, their business is one of the most valuable and important things they own. When it is time to sit down and create an estate plan, it is critical that business owners plan for their business just as they would plan for their home or finances. Effective business succession planning ensures a seamless transition of ownership upon the potential occurrence of many different events, such as the business owner’s retirement, disability, or death.
Why Title Matters
Real estate can take on different forms of ownership depending upon the number of parties and the unique circumstances involved. Understanding how your real estate is owned, or “titled,” is necessary because this determines the extent of control you have over your real estate, how susceptible your property is to creditors, and what will happen to it upon your death.
How the Corporate Transparency Act May Impact Your Estate Plan
Starting on January 1, 2024, under a new law called the Corporate Transparency Act (CTA), owners of certain business entities must file a report with the federal government including details regarding the ownership of their entity. Read about the CTA, who it impacts, and how to comply with its requirements.