Tax Planning - Hegwood Law Group

Considerations Before Owning a Business with Your Spouse

Both running a successful business and having a successful marriage require commitment and hard work. Operating a business as a married couple can present its share of challenges, but being devoted to one another as spouses and as business partners…

Navigating the Estate Planning Landscape in 2022

The only constant in estate planning is change. While you can do your best to be proactive and stay abreast of changing regulations, it seems there is always something new with which to contend. Despite all the uncertainty, there have…

Estate and Gift Tax Rate Hikes: What Does This Mean for You?

Earlier in the year, Senator Bernie Sanders proposed new legislation that could make waves in the estate planning world. The “For the 99.5 Percent Act” was introduced, increasing the odds of sweeping federal estate and gift tax reforms during the…

How President Biden’s Proposed Tax Plan Could Impact Your Estate

scheduling a consultation online This spring, President Joe Biden outlined a new infrastructure plan and American Families Plan to the tune of $4 trillion. In keeping with campaign promises, he plans to pay for these plans by raising taxes on corporations…

Estate Planning During the Biden Era

New presidents often mark the beginning of a new era of tax laws. For President Biden, the estate tax is a very likely target for change. The impact of potential changes reaches far beyond the estate tax, though. With Democratic…

Moving Overseas? Plan Ahead.

The Wall Street Journal recently provided some guidance for Americans relocating overseas in “Moving Abroad? Here’s the Checklist.” Insurance. These regulations are frequently at the country or state level, so insurance that is valid or that can be sold in one jurisdiction may…

Complete a Complete Estate Plan

When it comes to planning, the focus is typically on making you better prepared for the future. That means limiting taxes, creating wiser investment strategies, knowing when it’s best to claim Social Security and developing sustainable retirement income plans. All…

How Not to Do It: Spending the Inheritance on Royal Souvenirs and Strippers

For the Scripps family, who were heirs to a media fortune, they simply spent their millions. According to an article on CNBC.com, “The Greed Report: Not a billionaire? You still need an estate plan,” they took luxury cruises around the…

Celebrity Estate Panning Leaves a Lot to Be Desired

One would think that big stars like Prince would have a team of high-powered advisors, compared to the average Joe and Jane. But that isn’t so, says CNBC in the recent article “Don't make these celebrities' estate-planning blunders.” Celebrities make…

Trusts from A to Z

Many folks assume that trust funds are only for the rich, however, people in all types of economic circumstances may see a benefit from them. A trust fund is a special legal arrangement that lets a benefactor arrange for certain…