In December 2018, Google announced they were shutting down Google +, their social networking platform, due to low usage. Launched in 2011, it was meant to be a social layer across all of Google’s products, an alternative to Facebook for businesses. However, Google+ was never able to garner a mass audience and was broken into separate products in […]
TOD (Transfer on Death) designations, POD (Pay on Death) designations, and beneficiary designations can be useful in the right circumstances. Each of these tools allows for an automatic transfer to the named beneficiary at the death of the owner. But these tools can have a few shortfalls. First, if the named person predeceases the owner, […]
As estate planning attorneys, you know how hard it can be to get people to discuss and plan ahead for end-of-life issues. Less than 30% of adults do any end-of-life planning, such as wills and trusts, advance medical directive and preneed funeral planning (and that’s being generous). But the Silver Tsunami of Baby Boomers is […]
Representative Alexandria Ocasio-Cortez (D-NY), one of the new class of legislators in the House of Representatives has suggested the rate of income taxation for high-earners be raised. She is suggesting a top rate for those making over $10 million per year be increased to 60% or 70%. She’s suggesting the proceeds could be used for […]
We’ve been preparing a webinar on how to find the right staff and build a great team. I’ve been collecting a lot of the recommendations we make for law firm owners to create and cultivate a team of A Players…. it’s not an easy job! The topic of staffing ranks high on the list of […]
As I noted in a prior article, states are all over the board on their income taxation. An individual in a state with a high state tax rate could use a nongrantor trust to hold some of their income-producing assets and thereby avoid state income taxation on the income from those assets. Briefly, trusts may […]
For a long time, word of mouth was the original reputation maker or breaker. If you live by the opinions of others like I do when it comes to selecting a new restaurant, service provider, or product – online reviews are the today’s word of mouth. According to a 2013 ZenDesk survey, 90% of Customer […]
In this article, I’ll explain state income taxation in general. In the next article, I’ll look at how states tax trusts in particular. Everyone knows (or should know) that the federal government taxes the income you earn. But, depending where you live and how you earn money, states may tax your income, too. States run […]
You’ve worked hard to establish your practice; If you’re anything like our Academy Members, you have vigorously studied your area of law, accumulated valuable experience, and are on the path to creating a lasting legacy through your dedication to helping clients and investing in your firm. Maybe you’ve done some marketing and made efforts to […]
Often, the smallest things have the most sentimental value. Your grandmother’s silverware or your grandfather’s railroad watch could connect you to them in a special way. Your mother’s ring or your father’s Boyscout bugle could hold a special place in your heart. Your sports memorabilia could connect you to one of your children in a […]
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