Progeny Law Firm

Losing a loved one is hard enough, but handling an estate that spreads into multiple states can complicate the probate process. Each state has laws regarding probate and how estates are managed, which are generally different across state lines. It would be nearly impossible to know every law for each state, which is why an […] The post How to Handle Multi-State Probate Matters appeared first on Progeny Law Firm. http://dlvr.it/T4jtrw

Probating a will or naming an executor of an estate can be a nerve-wracking experience for all parties involved. It can be emotional and difficult and often invites disputes among family members. It isn’t rare for disagreements between beneficiaries to occur, and this usually leads to the will being contested or a claim being levied […] The post The Role of an Attorney in Resolving Probate Disputes appeared first on Progeny Law Firm. http://dlvr.it/T4c9qc

The Applicable Exclusion Amount (“AEA”) permits individuals to transfer a certain amount of property either during life or at death without worrying about incurring an estate or gift tax. Passage of the Tax Cuts and Jobs Act of 2017 temporarily doubled that amount thereby allowing significant amounts of wealth pass from one generation to another without imposition of tax. As we draw nearer to January 1, 2026, and the sunset of those doubling provisions, attorneys and clients alike will rush to utilize whatever remains of their AEA to avoid losing it. Married individuals have a particularly useful option at their disposal. The post Use It or Lose It…Examining the Efficacy of the Spouse And Family Exclusion Trust or Spousal Lifetime Access Trust appeared first on Progeny Law Firm. http://dlvr.it/T41Fm4

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. The post What You Need to Know about the Corporate Transparency Act appeared first on Progeny Law Firm. http://dlvr.it/T3rTR1

This question is one many parents of a child with special needs may ask themselves. Naturally, like all minors, you are legally responsible for your child until they turn eighteen. However, what happens if your child may not be able to take care of themselves when they turn eighteen? To ensure a seamless transition, it […] The post Who will be legally responsible for my special needs child once they turn eighteen? appeared first on Progeny Law Firm. http://dlvr.it/T3rNMT