Latest from Royal Law Firm Blog - Page 2

Royal Law Firm PLLC November 27, 2020 , 12:08 pm , , , All Your Basis Are Belong to What You Paid (Mostly): A Quick View on Basis and Donations Even a pandemic does not halt a hunt for deals. This Black Friday, November 27, shoppers are in a race to grab deals – except this time, mostly virtually, and the internet is keeping up with frequent updates.…
Royal Law Firm PLLC November 26, 2020 , 1:16 pm , Gratitude in a Time of Distress For many, 2020 probably marks a year of greater trials and tribulations than most in recent history. It is also a year that has brought us together, as a community of support.   2020 is making history – not merely with the horrors accompanying the COVID-19 pandemic, but with showing the widespread compassion, unity, and a grand…
Royal Law Firm PLLC November 16, 2020 , 6:15 pm , Diwali and Estate Planning: When Family, Legacies, and Preserving Traditions Matter   Many parts of the world lit up for Diwali, or Deepavali, as the South Asian traditions with the festival of lights went global even during a pandemic. Diwali celebrates the victory of good over evil – light over darkness. Every year, our founder enjoys sharing some of her…
Royal Law Firm PLLC November 12, 2020 , 9:25 pm , A New Jersey Tax Recipe? A Pizza Topping of Fresh Marijuana Leaves. The Royal Law Firm, originally founded in New Jersey, continues to serve its strong client base in the state. So, of course, we were watching closely as the whispers over the legalization of cannabis grew louder, because at the core of the issue is — taxes. This election year, the…
DC Lowers Estate Tax Exemption to $4 Million The “Estate Tax Adjustment Amendment Act of 2020” was signed by Mayor Murial Bowser of the District of Columbia in August 2020.  The purpose of this new legislation is to reduce the amount of a decedent’s assets exempt from D.C. estate tax to $4 million per person (or $8 million per couple) starting in January 2021.  The current D.C. exemption is $5,762,400 for 2020 decedents, and the…
Royal Law Firm PLLC October 26, 2020 , 12:28 am , Nine Nights to Ponder Synergies: Navigating Legal Barriers in US-India Transactions Nine Nights to Ponder Synergies: Navigating Legal Barriers in US-India Transactions Through Collaboration This month marked the celebration of Navratri  – a nine night Hindu festival celebrating the victory of good over evil culminating with Dussehra (Vijayadashami) on the 10th day. Although commonly celebrated with feasting and dancing, many…
Royal Law Firm PLLC October 19, 2020 , 5:20 pm , Probate is Hardly the Story: Chad Boseman’s More than a Million Dollar Legacy The media is in a frenzy over the late Black Panther’s real-life wife, Taylor Simone Ledward, filing for probate on an estate allegedly just under a $1 million. First, the news claims the probate is necessary because he died without a Will. To the contrary, a Will…
Royal Law Firm PLLC October 19, 2020 , 5:20 pm , Probate is Hardly the Story: Chad Boseman’s More than a Million Dollar Legacy The media is in a frenzy over the late Black Panther’s real-life wife, Taylor Simone Ledward, filing for probate on an estate allegedly just under a $1 million. First, the news claims the probate is necessary because he died without a Will. To the contrary, a Will…
Royal Law Firm PLLC October 18, 2020 , 4:04 pm , Better act fast, it’s another election year and another bite at the Estate and Gift Tax Better act fast, it’s another election year and another bite at the Estate and Gift Tax Every four years, we take a leap of faith and select our national global representative for a United States President. A lucky few get a repeat performance. Sometimes,…
Royal Law Firm PLLC October 18, 2020 , 4:04 pm , Better act fast, it’s another election year and another bite at the Estate and Gift Tax Better act fast, it’s another election year and another bite at the Estate and Gift Tax Every four years, we take a leap of faith and select our national global representative for a United States President. A lucky few get a repeat performance. Sometimes,…