Katherine Willett Katherine Willett

Understanding the Corporate Transparency Act: What Business Owners Need to Know

In a move to enhance transparency and accountability within the business landscape, the federal Corporate Transparency Act (CTA) was enacted. Designed to combat illicit financial activities and promote transparency, the CTA requires certain businesses to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN).

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Katherine Willett Katherine Willett

7 Reasons a RLT is better than a will

In North Carolina, the probate process can take months before assets can be distributed to beneficiaries. (Please see Willett Legal’s article on the Probate Process in North Carolina). Only after administrative costs, taxes, and debts of the estate have been paid and all administrative procedures have been completed may the personal representative distribute the remaining estate assets according to the will.

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