The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed on March 27, 2020, allows employers (and self-employed individuals) to delay paying their portion of that social security payroll tax. However, employers who receive Small Business Act loans that are forgiven under the CARES Act are not eligible for this payroll tax deferral.
During the estate planning process, these beneficiary designations are reviewed to ensure that the beneficiaries are correct, and that the distribution of these assets conforms with the client’s intended estate plan.
The rapidly evolving coronavirus (COVID-19) crisis is creating a plethora of unique estate planning and legal challenges across the globe, particularly given the volatility of the financial markets.
If you’re caring for an older loved one, you might be worried. Here is what you need to know to keep elderly people safer, and what to do if they do show symptoms of COVID-19.
The most common misconception estate planning attorneys hear, is that someone doesn’t need an estate plan because their client isn’t elderly or on death’s door.
About 55% of Americans do not have a will. Even more worrisome is the fact that less than one in five millennials have a will. The top reason why Americans don’t have a will, is simply procrastination, followed by the feeling of not having enough assets, and a fact that it’s too expensive to set up.
For obvious reasons, including control, privacy, asset protection, etc., many clients are interested in putting assets into a trust. For many retirees, their IRA is among their biggest assets. It’s only natural to want to put the IRA into a trust.
