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The Critical Need for Estate Planning: A Comprehensive Guide for Our Valued Clients Dear Clients, Estate planning is a topic that can be easy to ignore or postpone, but its importance cannot be overstated. It is a critical component of personal financial management...
Dear Clients, Estate planning is a topic that can be easy to ignore or postpone, but its importance cannot be overstated. It is a critical component of personal financial management that should not be overlooked, regardless of your age, health, or wealth status....
What’s next for student debt relief? United States Court of Appeals for the Eighth Circuit has blocked the plan. Biden announced the loan cancellation program in August. Under its terms, many borrowers who earned less than $125,000 during the pandemic should receive up to $10,000 in student loan forgiveness. Borrowers who received Pell Grants, federal grants that target low-income college…
Recent empty nester? Do you have a child in college? Summer is coming to an end. The back-to-school season may have brought many changes to your household. Having children go away to college is an exciting, and often emotional, time for many families. While things may be changing, your love for your child remains the same and now your concern…
Dear Clients, I hope this letter finds you and your family all safe and healthy. Like you, the attorneys and staff at Godbey Law have also spent the last several weeks adjusting to a world with COVID-19. This means understanding how it affects our staff and our...
ARE YOU THINKING ABOUT MAKING A WILL? Right now, to stay safe during this COVID-19 pandemic and help “flatten the curve”, we are all Sheltering-at-Home. In addition to repainting the kitchen and putting in the garden, the To-Do List may include getting your Last Will & Testament prepared. Who would you like your executor to be? Who will raise your…
Quick Summary The SECURE legislation — which stands for “Setting Every Community Up for Retirement Enhancement” — puts into place numerous provisions intended to strengthen retirement security across the country. As part of a larger government spending package, which was signed into law on December 20, 2019, Congress included provisions from the Setting Every Community Up for Retirement Enhancement (SECURE)…
Before you click that link or mail that check this season, consider these 10 ways to potentially maximize your charitable giving. Discuss your philanthropic values and goals with your family (or even friends) as a way to build a legacy. 50/30/20 Rule: 50% to support...
To All Clients of Godbey Law, [WATCH VIDEO] Twenty-five years ago today, I came home early to tell my wife (who was pregnant with our first child) that I had quit my job in order to open my own law firm. I have no regrets. Today we celebrate 25 years of legal leadership at Godbey Law. Thank you to all…
Protecting value for future generations or philanthropy The 2017 nearly doubled the federal estate and gift tax exclusion amounts. $11.18 million per person; $22.36 million per married couple. The purpose of the exclusion is to allow wealth transfer to heirs without taxation. These new amounts along with significant valuation discounts on shares of privately held companies allow business owners to…