What Role Does Estate Planning Play in Business Succession?
Dec. 14, 2024
When it comes to business succession, estate planning is the key to a smooth transition of ownership and preserving the legacy of your business. While business succession planning focuses on the transfer of ownership and management, estate planning provides the necessary legal framework to protect your assets, minimize tax liabilities, and secure the financial future of your loved ones.
Continue ReadingWhat are Common Causes of Fiduciary Disputes?
Dec. 14, 2024
Fiduciary disputes can have significant legal and financial implications, and it is crucial to identify and address them promptly. By scheduling a consultation with a lawyer at North Carolina Estate Planning & Fiduciary Law, you will have the benefit of a team member to assist you in tough legal matters.
Continue ReadingA Forecast of President-Elect Donald Trump’s Proposed Tax Legislation and Its Implications for Estate Planning
Nov. 13, 2024
With Donald Trump elected as the President of the United States, his administration’s proposed tax reforms are poised to have profound impacts on estate planning strategies.
Continue ReadingWhat are the Tax Implications of Post-Mortem Planning?
Nov. 13, 2024
Post-mortem planning can be a complicated and sensitive subject. The experienced attorneys at North Carolina Estate Planning & Fiduciary Law have spent years honing their skills in estate planning for clients in Charlotte, North Carolina.
Continue ReadingWhat Is Pre-Death Planning and Why Is It Important?
Nov. 13, 2024
When it comes to planning for the future, many of us focus on the immediate—saving for a house, a child's education, or retirement. However, there is an equally essential aspect of planning that often goes overlooked until it is too late—pre-death planning.
Continue ReadingCommon Mistakes to Avoid in Estate Planning
Nov. 13, 2024
Estate planning is an important part of preparing for the future. It ensures your assets are distributed according to your wishes. However, many people make easily-avoidable mistakes that can have long-lasting repercussions for their estate and loved ones.
Continue ReadingFinCEN Reporting Requirements for Trusts That Own Businesses
Oct. 29, 2024
The Financial Crimes Enforcement Network (FinCEN), tasked with combating money laundering and ensuring transparency in financial transactions,
Continue ReadingSunset of the Tax Cuts and Jobs Act of 2017
Oct. 29, 2024
The Tax Cuts and Jobs Act of 2017 (TCJA), one of the most comprehensive overhauls of the U.S. tax code in decades, introduced significant changes to individual and corporate taxation.
Continue ReadingConverting a Net Income Only Trust to a Total Return Unitrust under North Carolina’s Uniform Principal and Income Act
Oct. 24, 2024
The shift from traditional net income only trusts to total return unitrusts has garnered significant attention as fiduciaries and beneficiaries seek to align investment strategies with modern portfolio theory
Continue ReadingU.S Treasury Issues Rev. Proc. 2024-40 Detailing Changes to Estate, Gift & Generation Skipping Transfer Tax Rates
Oct. 24, 2024
On October 22, 2024, the U.S. Treasury Department issued Rev. Proc. 2024-40, which outlines inflation-adjusted tax exemptions for estate, gift, and generation-skipping transfers for 2025.
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