Law Office of Mary King, P.L.

  If you’re facing overwhelming tax debt, you're not alone—and more importantly, you're not without options. The IRS Debt Forgiveness Program may offer the relief you need to regain financial control. This initiative is designed to help eligible taxpayers reduce or eliminate their IRS debt and avoid aggressive collection actions. Let’s explore how the IRS Debt Forgiveness Program works in 2024, who qualifies, and how to get started. What Is the IRS Debt Forgiveness Program? Also known as the IRS Fresh Start Initiative , the IRS Debt Forgiveness Program was created to support taxpayers experiencing financial hardship. The program offers multiple relief options, such as: Offers in Compromise Installment Agreements Penalty Relief Currently Not Collectible (CNC) status The goal? To give taxpayers a reasonable and manageable way to address their tax obligations without falling deeper into financial distress. Do You Qualify for Tax Debt Relief? Not everyone qualifies f...

  When planning for the future, protecting your assets and ensuring they’re passed on according to your wishes is crucial. One of the most effective tools to do this is a trust fund . While often associated with the wealthy, trust funds are increasingly used by everyday individuals to simplify estate planning, avoid probate, and provide long-term support for loved ones. So, what exactly is a trust fund, and how does it work? Let’s break it all down in this complete guide. What Is a Trust Fund? A trust fund is a legal entity that holds and manages assets—such as money, real estate, or investments—on behalf of someone else. It involves three main parties: Grantor : The person who creates the trust and places assets into it. Trustee : The individual or institution responsible for managing the trust. Beneficiary : The person or people who will benefit from the trust. The grantor sets the rules for how the assets are managed and distributed. The trustee then follows those ins...