If you have an LLC or other business entity, you should be aware of important new changes to your reporting requirements. Last year, the Financial Crimes Enforcement Network, or FinCEN, finalized new rules. FinCEN is a bureau of the US Department of the Treasury, and...
In our practice, we see many clients who have an outdated estate plan. Even if you have a Will and powers of attorney, they may not meet your current needs. Here are three problems to watch out for: You Named the Wrong Executor or Trustee Your Executor or Trustee...
Starting your own business can be a tremendous opportunity that is fraught with challenges. When you have an idea, a marketing plan, and the enthusiasm to go out on your own, you need a legal partner. One of the first legal choices is the business structure: whether...
Social benefit programs designed to help people with disabilities typically have restrictions on how much money the beneficiary can have. Caps on monthly income and total assets owned are a major restriction on parents trying to complete an estate plan. Leaving money...
There are a lot of misconceptions surrounding Wills and estate planning, so here are some commons myths, explained: Myth: Estate planning is for rich people Everybody needs a Will. A Will allows you to designate who will receive your property when you die. If you die...
We often assist families of children with special needs with estate planning. One challenge is ensuring that the child has long-term protection. While the child is a minor, the parents have the ability to act in the child’s best interest. But when the child turns 18,...
For homeowners buying and selling real estate, the entire process can be overwhelming. There are price negotiations, home inspections, and title matters to address. Before closing, an attorney must draft a deed for the seller to sign. Now, the State of Iowa enacted a...
One of the more important decisions you must make when writing your Will is the selection of an Executor. The Executor is responsible for administering your Will and ensuring that your assets are distributed according to your wishes. Ideally, an Executor should...
Effective estate planning involves not only directing the distribution of your wealth after death, but also making decisions about your care while alive. Medical technology can extend life, but many clients prefer to focus on the quality of that life. Decisions about...
The expense of nursing home care can rapidly deplete the lifetime savings of couples. There is a common misconception that a couple must use up all of their available assets for care before one spouse becomes eligible for Medicaid. The Department of Human Services has...