As a parent of a child with special needs, you’ve spent countless hours making decisions to help your child thrive. You’ve advocated at school meetings, coordinated with medical professionals, and carefully considered every aspect of their care. But have you thought about including your child’s wishes in your estate planning? While legal documents and financial arrangements are essential, incorporating your child’s preferences and goals can make your plan more meaningful and effective. Let’s look at how you can incorporate your child’s wishes into your plan by outlining several actionable strategies.
If you or your family members hold crypto assets, there’s a critical change coming up that you may want to act on by December 31, 2024. Let’s break down what’s changing and what you need to do, if you want to qualify for safe harbor protections related to the basis of your crypto assets. Basis is relevant because when you sell your crypto assets, you will pay capital gains tax on the difference between your “basis” or the cost at which you purchased, and the sale price, or the price at which you sell your assets.
Play Estate Planning During Divorce: Lessons from Shannen Doherty’s Legacy AI-generated audio 6:07 The July 2024 passing of beloved Gen X actress Shannen Doherty offers important lessons about estate planning during divorce. Known for her iconic roles in “Beverly Hills, 90210,” “Heathers” and “Charmed,” Doherty not only faced a courageous and public battle with breast cancer but also raced against time to finalize her divorce and protect her estate. Her story shows why proper timing and planning are crucial when navigating divorce – one of life’s most challenging transitions.
UPDATE: On February 17, 2025, the U.S. District Court for the Eastern District of Texas, in the case Smith vs. Dept. of the Treasury, issued a ruling reinstating the reporting requirements for the Corporate Transparency Act (“CTA”). For most companies, beneficial ownership information (“BOI”) must now be reported to the U.S. Treasury’s Financial Crimes and Enforcement Network (“FinCEN”) by March 21, 2025.
