Vacation homes and secondary residences often hold a special place in a family's heart. These properties are not just valuable assets; they're repositories of cherished memories and family traditions. However, they can also present unique challenges when it comes to estate planning. Let's look at ways to effectively incorporate these properties into your estate plan.

Here we go again! The Fifth Circuit Court of Appeals has issued a nationwide injunction blocking enforcement of the Corporate Transparency Act's (CTA) beneficial ownership reporting requirements, marking another shift in the law's implementation status. This latest ruling suspends – at least temporarily – the obligation of small businesses and other entities deemed "reporting companies" to report ownership information to the Financial Crimes Enforcement Network (FinCEN) while the court reviews the government's appeal. The decision continues a series of rapid legal changes in December 2024, when the Eastern District of Texas initially blocked the requirements, followed by a Fifth Circuit ruling from a panel of judges that temporarily restored FinCEN's enforcement authority. The current injunction reflects the full Fifth Circuit court's need to evaluate competing priorities: the government's law enforcement objectives versus the regulatory impact on small businesses. The temporary pause allows for more thorough consideration of these factors during the appeals process. This ongoing legal battle holds significant implications for federal authority over private business ownership reporting requirements. The ultimate ruling could reshape how regulators collect corporate transparency data and affect compliance obligations for millions of small US businesses nationwide.

The Corporate Transparency Act is once again enforceable. A trial court injunction stopping enforcement of the Corporate Transparency Act (CTA) (and its Beneficial Ownership Information (BOI) reporting requirements) has been lifted by a federal appeals court. As a result, business entities must report their BOI information to FINCen promptly. While a preliminary injunction from a trial court had temporarily suspended the January 1, 2025 deadline, the U.S. Court of Appeals for the Fifth Circuit has now reversed this decision, effectively reinstating the original compliance deadline.