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Prenuptial and postnuptial agreements can be important documents when it comes to safeguarding your assets. Protecting your wealth is the main goal of the experienced attorneys at our law firm. Take control into your own hands and ensure the courts won’t be the ones to decide how your assets are distributed in the event of a divorce. Please see below for the most frequently asked questions regarding prenuptial and postnuptial agreements. What is a…
What Are Non-Fungible Tokens? Recently, Non-Fungible Tokens (“NFTs”), have become a topic of increasing popularity. Non-fungible tokens are one-of-a-kind digital assets that exist within crypto blockchains like Ethereum or Binance Smart Chain. They are purchased on NFT marketplaces like OpenSea, Rarible, and Nifty Gateway, to name a few. Each NFT has a set of specific identification codes and metadata that makes it unique. NFTs can code for almost any virtual asset, including art, songs,…
How Does the IRS Classify Cryptocurrency? As cryptocurrency gains popularity as an investment option, people are beginning to need guidance on how to report cryptocurrency on taxes. Currently, the Internal Revenue Service (IRS) classifies cryptocurrency as property for tax purposes, this means: It is not treated as a type of currency It does not pay dividends or accrue interest It may require an appraisal for estate tax purposes The value may fluctuate in the same…
Can Cryptocurrency Be Included in Your Will? In the past few years, cryptocurrency has become a popular form of a financial investment as investors are finding high returns. With this increase in wealth, more people investing in cryptocurrency are seeking to pass these digital forms of currency (e.g., Bitcoin, Litecoin, Ethereum, Ripple, etc.) on to beneficiaries after their passing in a will. It is absolutely possible to include your cryptocurrency assets in a will, but…
If your estate plan has been on your mind lately, you may have come across the term “revocable trust” and may have heard that a revocable trust will often help you avoid the lengthy and arduous probate process. What you may not fully understand yet is what a revocable trust is, why probate is something to be avoided, and how a revocable trust helps you accomplish this goal. What Is a Revocable Trust? At its…
Asset Protection and Cryptocurrency.  Now that the IRS has deemed cryptocurrency a taxable asset, it can be classified as property. As property, this means it can be a target of legal action, resulting in the loss of cryptocurrency assets. Protecting this will become vital in ensuring that if at any point your assets become the target of legal action, it will have extra layers of security and present a greater challenge for any persons or…
Banks and Cryptocurrency Cryptocurrency has recently soared to become a common form of digital currency in the last few years. However, with cryptocurrency’s rise in popularity for investment opportunities and as a form of payment for products or services through online suppliers, not all domestic and foreign banks recognize it as a viable form of currency. When doing your research on what banks will accept cryptocurrency it is important to search for bitcoin-friendly or crypto-friendly…
What is a Gun Trust? A gun trust is a revocable trust created to hold title to your firearms. Because the trust is a legal entity, it becomes the legal owner of the guns and is transferred to the trust or purchased by the trust. A trustee is named to manage the trust for the trust’s beneficiaries. Because the trust is revocable, the grantor can make changes to the trust agreement or void the trust…
 If you are a pet owner, you know the unconditional love that our furry friends provide. The sheer joy we experience when they interact with us each day is a feeling that’s difficult to match. It is only natural to want our pets to be loved and cared for even if they outlive us. What happens if my pet outlives me? Pets are a wonderful source of companionship, a Pet Trust can help ensure…
Introduction To Cryptocurrency Cryptocurrency, or crypto, is a digital form of currency that acts similar to the US Dollar. You can purchase goods and/or services as well as trade them, like how you would trade shares of a publicly-traded company. While cryptocurrencies are relatively new to the financial spectrum, several have been able to take strong footholds on the market and continue to prove themselves a sustainable force. What Is Cryptocurrency? To start, it…