Estate Planning attorneys need to understand multiple issues ranging from taxes to asset protection to create a comprehensive estate plan. Passage of the Corporate Transparency Act adds yet another layer to the already complex world of Estate Planning. Beginning on January 1, 2024, any company that qualifies as a Reporting Company needs to file a report with the Financial Crimes Enforcement Network (FinCEN) regarding its Beneficial Owners and individuals who helped register the Reporting Company. The provisions of the Corporate Transparency Act are designed to help prevent and combat money laundering, terrorist financing, corruption, tax fraud, and other illicit activity. My friend and colleague Tereina Stidd, an estate planning expert, has looked into this complex law. Read on to learn more.
- How to Update Your Estate Plan After Major Life Events - December 8, 2023
- Estate Planning for Unmarried Couples: Your Legal Rights - December 6, 2023
- When and Why to Update Your Estate Plan - December 4, 2023