Practical perspectives for contemporary legal challenges.
It is common for divorcing spouses to negotiate and resolve between themselves claims relating to division of property, debts, payment of spousal maintenance and parenting schedules for their children. When parties are able to reach these agreements on their own, the Court offers standard forms that parties can complete themselves and submit to the Court …
Continue reading “Please Do Not Sign That Divorce Agreement Yet!”
The IRS has announced the annual limits that will apply to qualified retirement plans in 2020. The key 2020 limits, as compared to the 2019 limits, are: For 401(k) plans, the maximum deferral limit increases by $500 to $19,500 for a participant who is under age 50. A participant who is age 50 or older …
Continue reading “IRS Announces 2020 Annual Adjustments for Qualified Retirement Plan Limits”
The tax code includes a number of provisions that benefit small businesses and small business owners. One of these provisions is contained in Section 1202 which provides for an exclusion of up to 100% of the gain realized on the sale of qualified small business stock (“QSB Stock”). The gain exclusion can provide significant tax …
Continue reading “Section 1202 – Qualified Small Business Stock”
The holidays are right around the corner and often can be a very difficult and emotional time if you are going through a divorce or separation, especially if you have children. Managing the many holiday demands including school programs, various events, buying gifts, and helping your children cope with the perceived loss of their family …
Preparing an estate plan can be a lot of work, both for the planner but especially for the client. And when that process is over, and the plan has been properly put in place through effective trust funding and asset titling, it is common for the client to not think about the plan again for …
Continue reading “When You Should Consider Updating Your Estate Plan”