News

The U.S. Department of Labor recently announced a new rule to help employers decide on whether a worker is an employee or an independent contractor. The new rule took effect on March 11, 2024, and utilizes a six-factor test to make the employee/contractor determination. The rule will largely affect such industries as home health care, construction, trucking, and ride-share and delivery...

In the realm of estate planning, there are a host of different tools and strategies to help ensure the orderly transfer of your assets while also minimizing tax liabilities. One such instrument is the Credit Shelter Trust, also known as a Bypass Trust or a Family Trust. Understanding what a Credit Shelter Trust is and whether it fits into your estate planning objectives is crucial for the...

A testamentary trust is a powerful estate planning tool that allows people to protect and distribute their assets in a strategic and tax-efficient manner after they pass. Let’s take some time and explore the key aspects of testamentary trusts, their benefits, and how they can be instrumental in your estate plan. Please contact a skilled estate planning attorney now to make sure your wishes and...

We recently posted on the new Beneficiary Ownership Reporting Rule issued by the Financial Crimes Enforcement Network (FinCEN). The new rule went into effect on January 1, 2024. While our last post provided a general overview of the new rule, our office received several questions on what information the new rule actually requires a company to report. Let’s take a detailed look so that all your...

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a new Beneficial Ownership “Reporting Rule.” The new rule went into effect on January 1, 2024. Let’s take a look at the new rule and how it may affect your business. Please contact the McWilliams Law Group now if you have any questions. What Does the Reporting Rule Require? The new Reporting Rule...

In the intricate landscape of estate planning and asset management, trusts stand as formidable entities. These legal arrangements, designed to safeguard and distribute assets, often present a myriad of challenges that individuals, families, and professionals must navigate. The following delves into the complexities surrounding trusts, exploring the various challenges they pose and shedding...

Image by Drazen Zigic on Freepik Guardianship is a legal arrangement that grants an individual or entity the authority to make decisions on behalf of someone else, who cannot make decisions on his or her own. This legal concept plays a pivotal role in protecting the rights and well-being of individuals who may be incapacitated due to age, disability, or other factors. Please contact a skilled...

Image from Pattanaphong Khuankaew. In the dynamic world of business, companies often face the challenging decision of dissolving their operations. Whether due to financial struggles, changes in market conditions, or strategic shifts, business dissolutions require careful considerations and adherence to legal processes. Let’s take a look at some of the most important things a company should...

Probate is a legal process that takes place after someone passes away, involving the distribution of the decedent’s assets and settling of debts. One crucial aspect of this process is the sale of real estate owned by the deceased. Let’s take a look at the intricacies of probate and how to navigate the sale of real estate within the probate process. Understanding Probate and the Sale of Real...

Property taxes are a fundamental component of local government revenue and play a crucial role in funding essential services such as schools, public safety, and infrastructure. However, taxpayers are often confused (and rightfully so) with how property taxes are calculated and what exemptions may apply. If you have specific questions about property taxes in your area, we advise consulting with...