congress and estate planning

Estate Planning: What to Expect from the New Administration

Each election brings about the possibility of change. Indeed, it is no exaggeration to say that the 2024 election has significant implications for estate planning due to potential proposed changes in estate taxes, capital gains, and wealth transfer regulations.

According to many commentators, 2025 could be the most critical year for tax legislation since the 2017 enactment of the Tax Cuts and Jobs Act (TCJA). If several TCJA reforms are not extended, more than $4 trillion in tax increases will take effect January 1, 2026. And if Congress acts to extend the tax cuts of the TCJA, it could be forced to explore new tax increases to offset them.

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happy 2025

New Year’s Eve Trivia and Fun Facts

Americans are known for their “work hard, play hard” mindset. On average, we work 1,789 hours per year.  However, even with our play-hard mentality, many of us do not stay up to see the ball drop on New Year’s Eve. Less than one-third of Americans plan to either attend or host a New Year’s Eve party, while more than half will spend the evening at home.

Whether your plans involve a night on the couch with family or celebrating into the wee hours with fellow partygoers, here are some fun New Year’s trivia questions and factoids to stimulate the mind and ring in 2025.

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surgeons hospital living will

It Is Okay to Ask for Help

There are times, like the holiday season, that we think about and prepare for, for much of the year. However, when they arrive, we may still feel unprepared.

The holidays serve as a reminder of how quickly life happens. It can also feel this way when we get the news that family is counting on us—and not just to bring the rolls to this year’s holiday dinner.

Perhaps you found out that your mother’s health has deteriorated and she needs somebody to take care of her, or your father has passed and you have been named executor of his estate and are now in charge of winding up his affairs.

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holiday list

It Is Time to Make Your Estate Planning List and Check It Twice

“He’s making a list. He’s checking it twice. He’s going to find out who’s naughty and nice . . . .”

The estate planning process can sometimes be similar to Santa’s process. You decide who should receive your money and property (the nice people on your list) and who should not (the naughty ones).

Gathering with friends and family this holiday season can serve as an important reminder for you to ensure that the right people are included in your estate plan.

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divorce

Shannen Doherty Understood That With Divorce, Timing Is Everything

According to a Centers for Disease Control and Prevention survey, there were more than 670,000 divorces and more than 2 million marriages in 2022. Divorce is a common life event that many Americans face during their lifetime.

Some states have laws that automatically end an ex-spouse’s appointment as decision-maker in their spouse’s estate plan with the ending of their marriage, as well as their right to any inheritance to which they may have been entitled. However, what happens if you die after you file for divorce but before it becomes final?

 Shannen Doherty faced this same question. In her case, the divorce was deemed to be finalized before her death.

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