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Social Security Fairness Act – Could Your Family See a Benefit?

As one of his final acts in office, President Biden signed the Social Security Fairness Act into law on January 5th 2025. This law repeals two provisions that have reduced social security benefits for certain non-Social Security covered employees by up to 50%. Your family or someone you know could be affected if they are receiving pensions from employment that is not covered by Social Security, which includes teachers, police officers, firefighters and other public servants. The change is expected to increase social security benefits for approximately 2.5 million retirees. The two provisions that have been repealed are the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). People who earned a pension from non-Social Security employment had their Social Security reduced by up to half, while in the case of the GPO, it reduced benefits by two thirds of their pension for those who qualified for spousal or

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The Corporate Transparency Act – The Saga Continues – What you need to know TODAY!

On December 3, 2024, the Federal District Court in Texas issued an injunction making it clear that limited liability companies and corporations were not required to register with the U.S. Treasury Department’s FinCEN. Entities were permitted to continue registering with FinCEN but the injunction raised questions as to the constitutionality of the new federal law and determined that pending further review, the obligation to register could not be mandated. The Department of Justice immediately asked the Court to stay the injunction which the District Court declined to do. The Justice Department filed an appeal with the Fifth Circuit Court of Appeals and on Monday December 23, 2024, the injunction was lifted. This means that entities are required to register with FinCEN under the law. REVISED DEADLINES: FinCEN recognized that the injunction which had been in effect for three weeks impacted many individuals and has decided to extend the deadline by

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Attorney Julianne Donato Joins Estate Planning Practice at Orsi Arone Rothenberg Turner, LLP

“We are excited to welcome Julie to the firm. She will make a wonderful addition to our practice.” – Rob Arone Attorney Julianne Donato brings extensive expertise to her practice, focusing on estate planning and business law. A graduate of Suffolk University Law School in 2000, she was recognized for her excellence in academics with the Jurisprudence Award in Contracts. Julianne also earned an MBA from Suffolk University Sawyer School of Management and a BA from Michigan State University, equipping her with a strong foundation in both legal and business principles. Julianne’s legal practice includes comprehensive estate planning services, such as estate tax minimization planning, special needs trusts, and revocable family trusts. She also works with business clients, offering services like entity formation, partnership agreements, and contract negotiation. Her ability to integrate estate planning into business succession strategies ensures her clients receive tailored solutions that address both personal and professional

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Ethics in Estate Planning

As estate planning attorneys we help families solve difficult issues. Oftentimes issues of ethics come up, whether it is interpersonal issues within a family or how an estate planning scenario plays out. We strive to always do not only what’s right and what’s in the best interests of our clients. We are guided by a set of principles and ethics. Last week we attended an Estate Planning Strategies Conference in Anaheim California to connect with other estate planning professionals and to keep up with the latest trends and best practices in estate planning. At the conference we took part in a session on Ethics in Estate Planning. As participants we were invited to engage in ethical dilemma exercises that explored complex ethical situations. We discussed some key issues in ethics, such as ethics in financial services, how people make ethical decisions, including the way social norms influence ethical decision-making, and

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The Importance of Updating Your Will

Creating a last will and testament is a vital step in safeguarding your assets and ensuring your wishes are honored after your passing. Despite the fact that many people procrastinate on this important task, the mere act of having a will puts you ahead of the majority. According to the 2024 Wills and Estate Planning Study by Caring.com, only one-third of Americans have prepared a will. This statistic underscores the necessity of not only drafting a will but also keeping it current.  Updating your will is crucial during various life changes. Major life events, such as marriage, divorce, or the birth of a child, often necessitate a review of your estate planning documents. These changes can significantly impact how your assets should be distributed and who should be responsible for executing your wishes. Additionally, if a beneficiary experiences a major life change—like a marriage, divorce, or the birth of a

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