Inflation’s Impact on Estate Planning

May 12, 2022

Inflation instantly calls to mind higher prices and higher interest rates. This of course affects our day-to-day purchasing power, but it also affects our long-term financial planning. How will it impact our ability to save? Another question that everyone should be asking is — how will it affect my Estate Plan? Does inflation impact estate… Read more »

Financial Literacy Tips from Estate Planning Attorney

May 12, 2022

Financial Literacy refers to having a thorough understanding about personal finances. Budgeting, saving, and planning for the future are an essential part of wealth planning  You need financial literacy to effectively manage your money and strategically plan your financial future. You want to be prepared to make the best decisions possible about everything related to… Read more »

IRS Having Difficulty Processing Power of Attorney Forms

January 26, 2022

The 2021 tax season is open! It is promising to bring a host of challenges. Tax professionals are largely ready to forge ahead to help their clients get through it, but now they may have trouble getting power of attorney forms processed. The IRS is still dealing with a backlog of millions of tax returns,… Read more »

New Income Tax Law Changes – What You Need To Know

October 15, 2021

The new income tax law changes will affect your financial plans whether you are an unmarried, married individual, trust, or estate with taxable income. It is important to understand the new tax rate and how it will affect your long-term and short-term financial goals. Here is what you need to know about the new income… Read more »

What is Legacy Planning?

October 13, 2021

Legacy planning encompasses the financial, legal, and emotional aspects of preparing for death. It’s important to take care of your family’s well-being after you’ve passed away by making sure their needs are met. One common way to do this is through a will or trust because it outlines who gets what assets when someone passes… Read more »

Planning a Special Needs Trust

October 08, 2021

Special needs trusts can be intimidating to navigate for many people. You may assume that the trust can put the beneficiary’s eligibility for income-restricted programs or services at risk. Fortunately, there are several benefits that it offers and a few reasons why it’s important to establish the special needs trust as soon as possible. Trusts… Read more »

Reading The Tea Leaves of Taxation

November 23, 2020

By: Anthony J. Madonia Over the past few weeks, I have watched several webinars, and read countless articles, on what may or may not happen to tax rates and deductions in the near future. At first, there was great debate about the presidential election. Now that Joe Biden will be our president, there has been… Read more »

Revisiting the SECURE Act

November 23, 2020

By: Elizabeth Morataya The Setting Every Community Up for Retirement Enhancement Act or better known as the SECURE Act (the “Act”) was signed into law by President Trump on December 20, 2019.  Most changes under this Act went into effect on January 1, 2020, which did not leave a great deal of time for people… Read more »

Starting a New Small Business in Chicago

November 13, 2020

 It is always the desire of many people to start their own businesses. However, it is important to note that there are several things that come into play.  For example factors such as liability protection, organizational structure, ability to raise capital, customer acquisition strategies should all be considered.  There is a long list of tasks… Read more »

A step by step guide to closing your business

October 16, 2020

Starting a business often involves several steps. However, most people don’t understand what steps to take when it comes to closing their businesses. Although employees are always made aware of the closures, customers are usually caught unawares.  There are legal steps that all businesses need to follow if they want to wind up their operations…. Read more »

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