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Becoming a parent is a wonderful adventure, and new parents have their hands full with learning how to parent. As emotional and stressful as it is to think about who will take care of their children in the event of their untimely deaths, parents should have a plan in place. In this episode of Simply Money, Mark Reckman outlines basic things that parents should know and should think about when going about the process of nominating a guardian for their children.
A new federal law will require business entities to report their ownership information to the Financial Crimes Enforcement Network (FinCEN). On January 1, 2021, Congress enacted the Corporate Transparency Act (CTA) as part of the National Defense Authorization Act for 2021. The U.S. Department of the Treasury and FinCEN adopted Regulations implementing the CTA on September 30, 2023.