When a child reaches the age of 18, a parent’s access to the adult child’s financial, medical, and academic records and information is usually cut off. There are four forms an adult child can consider executing, depending on the circumstances, and such forms should be executed as soon as possible….
Related: Trusts & Estates
Clear FilterA Tax Proposal Worth Monitoring
As you may have heard, the House Ways and Means Committee recently released its proposed 2022 budget legislation known as the Build Back Better Act. This proposed bill includes various tax proposals affecting both corporate and individual taxes, and impacting both the income and estate and gift tax regime. Some…
The Consolidated Appropriations Act Extends the 2020 Charitable Deductions and Provides Disaster Relief Unrelated to COVID-19
The Consolidated Appropriations Act, 2021 (the “CAA”), signed into law by President Donald Trump on December 27, 2020, provides further relief for individuals both related and unrelated to COVID-19. Such relief includes an extension of the charitable deduction allowances granted under the Coronavirus Aid, Relief, and Economic Security Act (the…
How the 2020 Election Might Impact Estate Planning
There has been a lot of discussion about the impact that the upcoming election might have on federal gift and estate tax law. In light of this, we feel that it would be helpful to provide an update of the current situation and a brief summary of some of the…
IRS Releases Guidance for Retirement Plan Related Relief under the CARES Act
As discussed in our prior blog post, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) provides special relief provisions for individuals in relation to their retirement plans. The provisions of the CARES Act, however, created uncertainties for both plan administrators and individuals when dealing with the administration of…