O'Connor Law Offices, LLC

Reminder: The Corporate Transparency Act (CTA) reporting deadline is approaching! The CTA requires certain businesses to report their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). As of now, the deadline for compliance with the CTA is December 31, 2024. Companies that are required to file must do so annually, and it's important to ensure that all necessary information is gathered and submitted by this date to avoid any penalties. Always stay informed about any changes or updates regarding regulations to ensure compliance.

A revocable living trust allows you to control your investments, finances, and other property while you’re healthy and ensures your wishes are honored if you become incapacitated or pass away by designating a trusted individual to step in for you.

Dividing beloved items like Grandma’s ring can lead to family conflicts. Proactive estate planning can help minimize future disputes and ensure that cherished heirlooms are allocated according to the deceased's wishes.

As adults, we are used to making our own decisions. It is a part of our everyday lives! However, what happens if you cannot make your own financial or legal decisions due to disability or incapacity? Appointing a conservator in your estate plan helps ensure that a trusted individual will make these important decisions on your behalf if there comes a time when you cannot do so.

Whether you select the same person to act as guardian for your minor child and trustee for your child’s inheritance will likely be based on the ability and capacity of the specific person. Learning more about each role can help you make an informed choice.

New blog!!! Your job as a parent is to provide for and protect your children. But who takes on that role if you are no longer around? If you have not taken the appropriate steps to nominate a guardian for your minor children, now is the time to take action. This crucial decision ensures that your voice will be heard when a judge determines who will care for your minor children.

It’s easy to assume all of your money and property will automatically go to your spouse and children when you pass away, but without a will, inheritance distributions can vary by state and may not actually meet your expectations. Read this article to discover how state laws might impact your family if you were to die without a proper estate plan.

This blog emphasizes the necessity for pet owners to incorporate their pets into estate plans. Many overlook provisions for their pets in cases of incapacity, which can jeopardize their animals' welfare. With increasing pet ownership and spending, establishing pet trusts and designating caretakers ensures that pets receive proper care. It urges pet owners to formalize their plans to safeguard their beloved companions' future.

It can be difficult to understand exactly how a trust works. From establishing the trust to managing and distributing the trust’s accounts and property, we’ve got you covered.

This blog highlights the crucial need for estate planning among all adults, noting that many avoid it due to perceived costs. It explains that having someone else pay for an estate plan can ease financial worries but emphasizes that attorneys focus on the interests of the plan creator. Effective communication is key when a third party covers expenses. Ultimately, the post encourages readers to take advantage of financial assistance to establish or update their estate plans, ensuring their wishes are fulfilled.