The One Big Beautiful Bill: Implications for Estate Planning & Running a Business
H.R.1 of the 119th Congress, better known as the “One Big Beautiful Bill Act,” was signed into law on July 4, 2025. This omnibus bill contains many provisions that could affect estate planning and running a business. This blog is [...]
Estate Planning After the One Big Beautiful Bill
The signing into law of the One Big Beautiful Bill Act (H.R. 1 of the 119th Congress) on July 4, 2025 has a few very important implications for estate planning. Here’s a brief look at them. Contact your own CPA [...]
Applicable Exclusion Amount Now $15 Million – Its History and Future
The One Big Beautiful Bill (OBBB) has set the applicable exclusion amount taxes at $15 million per individual, or $30 million per married couple, starting in 2026. This amount will be indexed for inflation starting in 2027. Notably, the OBBB [...]
QSBS – What is QSBS? Changes to QSBS Exemption in 2025
The Qualified Small Business Stock (QSBS) exclusion has been significantly expanded with the passage of the One Big Beautiful Bill (OBBB) Act on July 4, 2025. This change could mean savings of thousands or even millions of dollars in taxes [...]
What is Covenant of Good Faith and Fair Dealing? About the How, Not the What, and Road, LLC.
If you sign a contact, you and the other parties signing are automatically subject to the covenant of good faith and fair dealing, an implied principle that holds parties to a standard of fairness and honesty in carrying out the [...]
Spousal Elective Share: What It Is and How to Claim It In South Carolina
“Elective share” is the portion of a deceased person’s estate that a surviving spouse is entitled to under the law in separate property states. A surviving spouse may claim it regardless of the provisions of the will. This concept comes [...]
Left Out of the Will – Now What? Omitted Spouse, Pretermitted Child
What happens if you’ve been left out of the will? It depends – on state law, your relationship to the deceased, and other factors. Under state law, some parties are entitled to a portion of the estate when the testator [...]
11 Common Myths About Wills – Do You Believe These Misconceptions?
Which of these myths and misconceptions about last wills do you believe? Myth: I have a will, so my estate will not go through probate. Truth: Having a will does not mean your estate avoids probate. This myth likely persists [...]
Different Types of Wills and How to Choose the Best One for You
Did you know that there’s more than one type of last will and testament? Having a current, valid will is a vital part of avoiding Family Malpractice™ and ensuring your wishes are carried out after you’re gone. The right type [...]
What Is an “I Love You” Will and Is It Right for Me?
An “I love you” will is a common type of last will used by spouses. It’s a reciprocal will where the language is exactly the same in each spouse’s will, except that the names are flipped. In a typical “I [...]
What a Will Can and Can’t Do
A last will is an important and powerful estate planning document. However, there are many things you cannot legally do through a will. Before drawing up your own will, you should know what a will can and can’t do so [...]
What Is a Will?
A last will and testament is arguably the single most important estate planning document you can have. Not having a valid, up-to-date will is a leading cause of Family Malpractice™ and can create legal, financial, and even personal problems for [...]
What Exactly Are Trade Secrets? More Than Just Secret Recipes
When you hear the term “trade secrets,” you might think of the recipe for Coca Cola or the formula for WD-40. And these are certainly two of the most famous trade secrets in the world. But the concept of “trade [...]
Rights to Land You Don’t Own? Prescriptive Easements and Braswell v. Amick.
A farmer in Newberry County, SC, purchased land that was cut off from the main road. To access his land, he habitually used a dirt road on land owned by a neighbor. This went on for years. At first, the [...]
Stuck with the Terms: Adhesion Contracts After the Landmark 2024 Huskins Ruling
Adhesion contracts are “take-it-or-leave-it” contracts where the contract-writing party dictates the terms and the contract-signing party has little to no room to negotiate. It’s often a large company writing the contract and an individual consumer signing it. We recently covered [...]
