by Knee Law | Jan 24, 2025 | Estate Law, Estate Planning
How the IRS Has Changed Irrevocable Trust Rules When the IRS introduced Revenue Ruling 2023-2 in March 2023, the step-up in basis tax provision was altered to put some restrictions on irrevocable trusts. Current estimates state that more than $6.75 billion will be in...
by Knee Law | Jan 18, 2025 | Estate Law, Estate Planning
Through the year 2045, approximately $84.4 trillion will pass from one generation to the next. Baby Boomers hold the most money out of this figure, and their possessions, including their homes, are all part of the wealth they will pass on after they die. If you are...
by Knee Law | Jan 15, 2025 | Estate Law
How to Avoid Estate Plan Disputes Each year, thousands of wills are contested in court. This can lead to a lot of stress and unnecessary expenses, so it’s best to avoid trust and estate disputes if you can. To help reduce the risk of disagreements, follow these...
by Knee Law | May 16, 2024 | Estate Law, Estate Planning
Estate Planning Essentials for Small Business Owners There are over 33 million small businesses in the United States. While not at the top of most business owners’ to-do lists, proper estate planning ensures a smooth transition and offers financial security to...
by Knee Law | May 3, 2024 | Estate Law, Estate Planning
The majority of people prefer a minimalist style of decor, and some individuals even prefer an overall minimalist lifestyle. After a lifetime of accumulating possessions, your estate plan will likely include a listing of who gets what. However, there are many things...
by Knee Law | Apr 30, 2024 | Estate Law, Estate Planning
While many people agree that it’s important to have an estate plan, just 33% of Americans have wills. Among millennials with estate plans, 75.18% have wills while far fewer have trusts. While they are not as common as wills, creating a trust with the help of an...
