On March 30, 2023, the Internal Revenue Service issued Revenue Ruling 2023-2, which directly impacts a wide range of irrevocable trusts, including grantor retained annuity trusts, qualified personal residence trusts, insurance trusts and other intentionally defective ‘grantor trusts.’
This sunsetting creates a big imperative for business owners to take a closer look at tax planning, and not treat a grim fiscal inevitability like another unfortunate surprise.
The time to start researching elder care facilities, experts recommend, is before you need one. There are numerous options for elder care, and you don’t want to be caught flat-footed in the event of an unexpected health crisis. Those sudden situations can force you to make a quick decision without the knowledge to make an informed choice.
A report from the University of Michigan found that only 15% of seniors had given home modification much thought, but it’s a good idea for families to use this time to plan ahead for aging in place.
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Graber & Johnson Law Group, LLC is devoted to serving clients in the highly specialized areas of estate and business planning. Book a time to meet the Graber & Johnson Law Group Kansas Estate Planning Law Firm.