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President Joe Biden instructed the Federal Trade Commission (FTC) in 2021 to investigate non-compete clauses that are unfairly restrictive in not allowing workers to pursue the best employment opportunities or advance their careers. In 2022, he directed the FTC to...
Many family businesses here in Texas go back several generations with lasting legacies. However, the current caretakers of the ranch, store, restaurant or business need to adapt and grow to keep the lights on and prepare to pass it along to the next generation....
Looking after your children is one of the most important and challenging jobs for many parents. Perhaps even more so when the parents remarry, bringing children from previous marriages into the family unit. The parents may lean towards trying to share the estate...
These days, a lot of people are looking for ways to shield their assets from taxation. One way you might consider is by setting up a charitable remainder trust. This type of trust can provide up to 20 years of guaranteed income for you or a loved one, and then the...
When we think of estate planning, we most often think of our physical assets – the family home, vacation properties, investment accounts, retirement savings and valuable heirlooms, for example. Increasingly, however, a lot of what we truly value is located online. In...
With the Biden administration promising to raise taxes on the wealthy, many people of means are concerned that they or their families could end up paying more. Although President Biden refers to the target of his tax hike as “billionaires,” the tax bill could affect...
Recently, the nonprofit newsroom ProPublica reported on how billionaire Peter Thiel, co-founder of PayPal and all-around tech investor, started with a Roth IRA worth $2,000 and built it into a $5 billion tax-free retirement account over the course of 20 years. Other...
Over the last few years, Democratic leadership has been calling for increased federal taxes on corporations and wealthy individuals. Now that they have the White House and majorities in the House and Senate, their tax increases are more likely to pass. According to...
Even well-drafted estate plans can fail, meaning they fail to achieve your goals when the time comes. Those goals are generally 1) to distribute your assets to your heirs and beneficiaries; 2) to pay your creditors and taxes; 3) to prevent undue losses of assets or...
It may feel like you should limit your expenses right now, as the economy continues to struggle. Sure, a business succession plan would be nice to have, you might think, but surely you can wait until more favorable circumstances arise. The problem is, you could end up...