In 2022, the federal estate tax exemption is $12.06 million. This means that an individual can pass up to $12.06 million without paying a federal estate tax (Virginia and North Carolina have both essentially eliminated their estate tax). Thus, for…
Author: Letha Sgritta McDowell, CELA
What is Blockchain and Why Should You Care?
In incredibly simple terms, blockchain is a shared ledger that details activity and transactions of specific assets. The ledger is instantly updated and shared among participants which facilitates instant access to information among participants and avoids the necessity of duplicating…
Tips to Protect Seniors from Scams
Unfortunately, financial abuse of seniors in the form of scams and fraud have existed for quite some time. With every new version of a scam comes new tips for how to avoid such scenarios. However, 2020 saw a milestone in…
What is a Codicil? (And Why You Shouldn’t Do One)
Having an estate plan is important at every stage of life. Having a will makes the disposition of your assets at your death much easier for your loved ones. Even with minimal assets, a will is important. Just as critical…
Prepare for Tax Season 2022
Ready or not, tax season is here...and the IRS says it isn’t ready. The IRS will begin processing 2021 federal individual income tax returns on January 24th. However, while the filing deadline hasn’t changed, the IRS is still reporting being…
Preparing to be a Family Caregiver
During the holiday season, it's common for adult family members to notice that their older adult loved ones may need care and assistance. Often, time apart during the year and the busy lives of many mask the need for assistance,…
New Tax Legislation Introduced – What to Expect
Earlier this year we reported President Biden’s tax plan which included items such as raising the corporate tax rate, raising the highest marginal income tax rate, eliminating the step-up in basis at a taxpayer’s death and revising the estate tax…
Do I Really Need a Living Will?
More than any other legal document, clients are most often concerned or hesitant about signing an advance directive or “living will.” The reasons behind the hesitancy are varied but range from a thought that physicians will not honor the terms…
What’s Included in the Biden Tax Plan?
It seems like there has been a flurry of legislative activity now that the COVID-19 vaccine has been developed and made readily available. Somewhere between COVID and the debate of infrastructure, the Biden administration released the summary of their tax…
