Four Documents Every Estate Plan Needs

The four documents that create the foundation of a good estate plan are a will, medical power of attorney, durable (financial) power of attorney and a living will.  Each of these documents provides protection for specific issues associated with death or incapacity. A will details your wishes after you pass away. A will allows for a smooth transition for the loved ones […]

Different Types of Power of Attorney

The two types of power of attorney are medical and durable.  A medical power of attorney addresses who should make medical decisions if you are unable to make them for yourself.  A durable power of attorney addresses financial decisions.  Either power of attorney can be customized to fit the needs of your situation. A medical […]

Executor’s Role in a Probate Proceeding

The executor’s role is to ensure that the terms of a persons will are followed or if no will exists to ensure the estate is transferred in compliance with state law.  There are several steps in this process. Identify the assets. Collect or otherwise take control of the assets. Identify the debts. Pay debts. Distribute […]

Why do I need a Will?

No one likes to think about their own death which makes it hard to prepare for this inevitable occurrence. Having a will provides a guide for those you leave behind and helps ensure they will be protected.  Furthermore, if you don’t have a will the state has one for you and it may not fit […]

The IRS is Ramping Up Employment Tax Audit Activity

In an effort to close the tax gap, the Internal Revenue Service (“IRS”) is increasing audits of employers related to employment tax issues.  Now in its third year of the Employment Tax Research Project, the IRS is looking at the payroll practices of 6,000 employers to identify compliance failures. The IRS is focusing on four […]