The First 3 Money Moves to Make if You’re About to Get an Inheritance
Although you may be excited about the prospect of receiving unexpected money, there are certain financial moves experts say you should make to make sure you’re prepared for that inheritance.
What You Need to Know About the Child Tax Credit
In about three weeks, millions of American families will receive the first of six monthly payments of up to $300 per child from the federal government, thanks to an expanded child tax credit.
Divorce, Alimony and Taxes: What you Need to Know
Thinking about splitting with your spouse? The 2017 tax overhaul has made things more complicated. For recently divorced Americans, alimony payments are no longer tax-deductible for the payer, and they aren’t considered taxable income for the person receiving them, ending a decades-long practice. The changes affect divorce agreements signed after Dec. 31, 2018.
Do I Have to File Taxes?
For many Americans, filing taxes is a no-brainer. Failing to do so can cause them to miss out on valuable tax refunds or burden them with late fees and failure-to-file penalties. But for Americans with low incomes or without any earned income at all, the decision to file is more complicated.
2017 US Tax Code Cuts and Jobs Act: Impact on Divorce and Separation
The recent tax legislation that overhauled the US Tax Code could also impact divorce and separation of married couples. While the elimination of the deduction for alimony paid (along with the elimination of the corresponding income for alimony received) seems to be the hot topic among domestic lawyers and their clients, there were several other […]
Summer Travel Tips. Legal Eagles: Don’t Let Your Kids Leave Home Without Them
Summer is a time for travel and fun with the family, but children visiting with other relatives or friends may need extra protection in case of accidents. Sodoma Law attorney, David DuFault, details some ways to keep your minor safe so everyone can have a memorable summer.
The Intricacies of Estate Planning for Same Sex Couples
When the Supreme Court announced its decision in Obergefell v. Hodges* last summer, it was rightly viewed as a victory for equality for same-sex couples across the country. As a result of the ruling, same-sex marriages that had once been ignored, disregarded, or deemed illegal were immediately granted the same full faith and credit as […]
Summer Travel Tips In Case of Emergency
Summer is the time of year when kids get to enjoy time off from the demands of school. Often this involves trips with their family, but sometimes kids also have the benefit of travelling with friends of their own, without their parents. In other cases, parents have the opportunity for time away for themselves, a […]
Living Wills for Individuals and Businesses
Recently the Charlotte Business Journal contained an article about the big banks’ failure on their own ‘living wills’. In the context of the big banks, the living wills in question are the Federal Reserve and FDIC requirements that the largest banks provide documents outlining how the bank’s failure or bankruptcy will not create mayhem in […]
Trick or Trust
For many people, the idea of a trust triggers the seemingly negative image of spoiled children, living off the wealth they inherited; wealth these ‘trust-fund babies’ didn’t earn. While that may have been true in the past, trusts such as revocable living trusts have become a staple of comprehensive estate planning for far more than […]