I want to highlight a couple of different topics this month. 

First is the Corporate Transparency Act that went into effect January 1st. For certain companies, a Beneficial Ownership Information Report must be filed. For existing businesses, the deadline is January 1, 2025. For newly formed entities the deadline is 90 days after formation. The penalties are quite onerous, so if you operate as an LLC or Corporation, you may have a duty to file if you qualify as a beneficial owner. It’s much too complex to go into the details here, but if you think you need to file, we can help.

Second, in January I had the privilege of speaking with an Alzheimer’s/Dementia Support Group. The biggest message to take away is that having documents updated regularly (every 3-5 years) really makes a difference. One of my clients was very proactive when they received a diagnosis and made sure to update their important estate planning documents. For example, your spouse with dementia is no longer qualified to be a Trustee, your Power of Attorney, or your Health Care Agent and making sure you have the right people designated is very important. It’s also a good time to make sure assets are properly titled. Particularly if the spouse that’s been diagnosed has some inherited asset in just their name outside of the Trust. This is one way we wind up with an inadvertent Probate. 

Finally, another plug for the DSCBA Gala on April 27th at the Claremont Hotel. The Down Syndrome Connection team do an amazing job and are able to offer such wonderful programs, but it takes our support to help keep them going and keep them growing. Check it out.


Stay safe and well!