According to the U.S. Government Accountability Office, elder financial abuse and fraud costs older Americans $2.9 billion annually. This abuse ranges from scam emails and phone calls to loved ones pressuring elders into financial transactions they would not otherwise perform. Banks, financial advisors, and insurance providers are often in the best position to spot suspected financial abuse and help to stop it before it devastates seniors.
As you probably know, the Tax Cut and Jobs Act of 2017 (the “Act”) was signed into law by President Trump on December 22, 2017. The Act made a wide variety of changes to the Internal Revenue Code, which affect most taxpayers in one way or another. This Client Alert highlights some important changes in the Act that may impact your estate planning.
On March 28, 2018, Alabama joined the other forty-nine states by enacting a ground-breaking new data breach notification law – one of the most comprehensive in the nation. The Alabama Data Breach Notification Act of 2018, which will go into effect on June 1, 2018, contains three (3) basic requirements:
It’s that time of the year – a time for clearing out the clutter, fresh beginnings and new growth. Most people associate Spring cleaning with home, but the concepts are also quite applicable to businesses. It truly is the ideal time to engage in a little Spring cleaning, after the New Year transition but before the Summer respite that precedes the sprint from Labor Day through the end of the year.
The benefits of engaging in this process on an annual basis are immense:
On March 21, 2018, Alabama Governor Kay Ivey nominated 158 population census tracts (at least one in each of Alabama’s 67 counties) for designation as “qualified opportunity zones” (“opportunity zones”) pursuant to the Tax Cut and Jobs Act of 2017 (the “Act”) signed into law by President Trump on December 22, 2017. To see a list and map of the tracts nominated by Governor Ivey, click here.