People with assets in an irrevocable trust may want to update their estate plan to account for the IRS closing a popular capital gains tax loophole, effective March 2023, regarding the step-up in basis. What is a "step-up in basis?" The term refers to an irrevocable...
How much borrowing is too much borrowing? When does inspiration cross the line into stealing? The Supreme Court’s recent ruling over a work by Andy Warhol which featured an altered photo of Prince, taken by photographer Lynn Goldsmith, tries to draw a red line between...
Small business owners and entrepreneurs may not believe their little enterprise warrants a succession plan, but when people start asking basic transition questions regarding your eventual exit, the need for a succession plan becomes acutely necessary. The sooner, the...
Acquiring a Green Card solves many U.S. residency problems all in one move. But America keeps a tight grip on its immigration quotas, making access to Green Cards challenging, even in some of the most straightforward situations. If you or your employer want to...
The leading cause of divorce in the U.S. is financial trouble or stress. This phenomenon is bad enough, but if one spouse creates money trouble and hides it from their partner, divorce proceedings can transform from unpleasant to nightmarish. What is financial...
The recent bankruptcy of former behemoth Bed Bath & Beyond was a sobering reminder that even giants can stumble and fall when an economic downturn and bad decisions collide. Small businesses are especially vulnerable to factors that may be out of their control,...
YK Law LLP is thrilled to announce that Co-Managing Partner, Jesse Weiner, was a speaker on the Regulatory / DeFi panel at the Duke University Webb Conference held on Sunday, April 23rd. The conference was attended by experts from diverse fields, including technology,...
When a custodial parent considers a significant relocation that affects the non-custodial parent's ability for realistic visitation time, it must be approved by a judge in family court. If you're unsure whether the proposed relocation destination's distance and other...
The story of technological advances causing rollercoaster whiplash for people working in entertainment and media isn’t new. But recent waves of belt-tightening have opened fresh wounds – and reopened old ones. It started with a song The evolution of entertainment...
If your marital status changed or you’ve experienced another major life event, it’s important to consider the impact on your estate plan. The irony is that after taking the considerable amount of time and effort to put together a solid estate plan, most people don’t...