AR&H News & Blog
Important Information When Managing Estate Assets as an Executor or Trustee
One very important aspect to be aware of as an executor or trustee has to do with the managing of estate assets. Whether you are a trustee of a trust or an executor of a probate estate, you are sitting in a fiduciary capacity. Fiduciary capacity is a legal phrase which means that you must […]
How to Handle the Worry About the Irresponsible Son-in-Law or Daughter-in-Law?
Occasionally, families will have a conversation with me which will start similar to the following: “Our son (or daughter) is married to someone who we do not entirely trust. He (or she) has made numerous bad business and financial decisions. He (or she) has borrowed money a handful of time and never paid us back. […]
Can a Third-Party Administrator Be Liable for ERISA Breach of Fiduciary Duty? One Court Says Maybe
There are a lot of questions surrounding ERISA (Employee Retirement Income Security Act) fiduciary duties. Namely, who is a considered a fiduciary under the Act can sometimes be unclear. Generally, ERISA protects a retirement plan’s assets by requiring persons who exercise “discretionary control or authority” over plan assets. However, this fiduciary duty can extend to […]
The Tax Consequences of a PPP Loan for 2020
2020 has been a difficult year for all people. When our country was faced with a global pandemic at a level not seen since 1918, Congress went to work and passed a series of legislation aimed at helping Americans and the small business community. These legislative acts included the Families First Coronavirus Relief Act and […]
How Will Taxes Change Under a Biden Presidency?
As it stands today, election night was approximately one month ago. We are beginning to see President-Elect Joe Biden naming cabinet members and contested states such as Michigan and Pennsylvania are certifying their results for Joe Biden. As a result, many are wondering how taxes will change under a Biden Presidency and how people will […]
Major Changes to Estate Planning Under the Biden Administration?
As it stands today, states are beginning to certify their election results and it appears that the next President of the United States will be Joe Biden come January 2021. Although President Trump is still pursuing legal avenues regarding his claims, many legal scholars indicate that President Trump will run out of legal avenues, the […]
Do I Need to Worry About Losing the Family Home Due to Medicaid?
“Do I need to worry about losing my family home due to Medicaid?” This is a very common question we receive from many families. This question often arises when one spouse enters a nursing home while the other spouse is remaining at home. Adult children also ask this question as their parents are getting older […]
What Does Business Succession Planning Accomplish?
There are many business owners who pay painstaking attention to every detail of their business. However, one detail that is almost always ignored until it is too late is proper business succession planning. The failure to have a business succession plan in place is one of the main reasons for business failure and closure. A […]
What is the Difference Between an Executor and a Trustee?
A common question that people have is about the difference between an Executor and a Trustee. Although these two terms are similar, they are quite different. An Executor, Executrix, Personal Administrator or Personal Representative is a term which applies to the person who oversees settling a person’s estate after death. An Executor can be named […]
Are You Legally Prepared for a COVID-19 Outbreak or Quarantine?
Just about every day on the news we hear about COVID-19 new infections and deaths. There are many who expect cases to spike as we enter the flu season in the fall and winter months. However, whether that occurs or not is anyone’s guess. Regardless of what occurs regarding COVID-19, you need to be legally […]