The Corporate Transparency Act – What you Need to Know and What You Need to do

In the last few months, word is slowly spreading about the federal governments new requirements under the Corporate Transparency Act (CTA) that business must disclose information about the beneficial ownership structure of corporations, limited liability companies, limited partnerships, and other entities. Prior to this new law, a corporation or entity could be created and registered to do business without disclosure of the ownership structure. To combat money laundering, the federal government is requiring that this information must be disclosed to the Financial Crimes Enforcement Network. Failure to provide the information can result in significant penalties of $500 per day for up to a total of $10,000. It is estimated that this new law will apply to over thirty-two million entities in 2024. This article will outline what you need to know to start complying with the new law. WHO HAS TO COMPLY WITH THIS REGISTRATION? Every new business entity that

Estate Planning Pop Quiz

Posted by Robert L. Arone August means school is back in session or just around the corner, signaling the return of new school supplies, homework, and pop quizzes. Try your hand at this estate planning pop quiz to see if your knowledge of estate planning makes the grade. Question #1: True or false? The only people involved in an estate plan are the client and the estate planning attorney who drafts the documents. Answer: False. Many advisors such as financial planners, certified public accountants (CPAs), and insurance agents play an important role in the estate planning process. For example, one of the first steps in creating an estate plan is understanding what property the client owns. This may include tangible property such as real estate, vehicles, and collectibles, as well as intangible assets such as retirement accounts and insurance policies. A client’s advisors can help the estate planning attorney understand everything the client owns

Your Role in a Client’s Summertime Family Gathering

Posted by Robert L. Arone Along with warmer weather and lazy days spent at the pool, summertime also often includes a family gathering, such as a Fourth of July barbecue, a family vacation, a reunion, or time spent at a family cabin or lake house. Whatever the form, in our always-on-the-go society, getting the whole family together is a rare occurrence. Clients should take advantage of this time together to discuss their estate and financial wishes with their families. As an advisor, you can help facilitate and encourage this discussion in the following ways. Meet Your Client’s Trusted Decision Makers Now You can encourage a client to discuss their estate and financial plans with their family by offering to meet with your client and their trusted decision makers now. Clients often select adult children to act in trusted decision-making roles, such as a successor trustee, executor or personal representative, or

Helping Clients Protect Themselves and Their Loved Ones This National Safety Month

Posted by Robert L. Arone For over a quarter of a century, the National Safety Council has recognized June as National Safety Month. An objective of National Safety Month is to raise public awareness of the top safety and health risks in the United States. One of the lesser-known but considerable risks Americans and their loved ones face are the financial and emotional repercussions that can accompany incapacity or death. A revocable living trust is a legal tool that can keep clients and their loved ones safe from the costs, uncertainty, and confusion that may result upon a client’s incapacity or death. A Revocable Living Trust Protects the ClientLike every person, a client is at constant risk of suffering a disastrous accident or illness that may render them incapable of caring for themselves or their loved ones. Their incapacity could be temporary, or it could last until their eventual death. The

Three Things You Can Do to Help Clients with National Moving Month

Posted by Robert L. Arone The month of May means not only the end of the school year and the beginning of summer but also the beginning of the busiest moving season of the year. That’s why May is National Moving Month. Your clients have a lot to think about when moving: along with organizing and packing up all of their belongings, there is also starting and stopping utilities, mail forwarding, updating voter registration, and so on. While the ever-growing number of items on their moving to-do list may be overwhelming, there are three important things you can do to help any client in the process of moving: (1) make sure they know where their important documents are, (2) help them set a moving budget, and (3) continue as their advisor, or connect them to a new advisor. Make Sure They Know Where Their Important Documents Are In all of the chaos

Wealth Counselor

The Corporate Transparency Act – What you Need to Know and What You Need to do

Estate Planning Pop Quiz

Your Role in a Client’s Summertime Family Gathering

Helping Clients Protect Themselves and Their Loved Ones This National Safety Month

Three Things You Can Do to Help Clients with National Moving Month

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© 2024 by Orsi Arone Rothenberg Turner, LLP. All rights reserved.

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Wealth Counselor

The Corporate Transparency Act – What you Need to Know and What You Need to do

Estate Planning Pop Quiz

Your Role in a Client’s Summertime Family Gathering

Helping Clients Protect Themselves and Their Loved Ones This National Safety Month

Three Things You Can Do to Help Clients with National Moving Month

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How Can We Help?

© 2024 by Orsi Arone Rothenberg Turner, LLP. All rights reserved.

Attorney Marketing by Bardorf Legal Marketing

Have A Question?