September 04, 2019
NP Trusts & Estates Blog
Author(s): Kaitlyn B. Barnett, Alexandra P. Crean, Dawn E. Lannon, CPA
The importance of choosing the “right” guardian for your children, the IRS sends letters to holders of cryptocurrency accounts and more. Here’s what’s trending in estate planning and wealth management.
When creating an estate plan, the primary emphasis is typically on the disposition of assets and the related tax concerns; however, one of the most crucial planning decisions you can make is choosing who will serve as guardian of your minor children. The failure to designate a guardian in your estate plan will consequently put the lives of your minor children in the hands of the impersonal court system.—Kaitlyn B. Barnett
In July, the IRS announced that it would be sending letters to taxpayers with one or more cryptocurrency accounts. The letters, which have now been sent, though seemingly educational, may be part of a greater enforcement effort surrounding these types of accounts.—Alexandra P. Crean
If you have elderly parents and pay for their care while you work, you may be eligible for a federal tax credit!—Dawn E. Lannon, CPA
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