Attn: Business Owners

CORPORATE TRANSPARENCY ACT (“CTA”) REPORTING REQUIREMENTS

The Corporate Transparency Act (“CTA”) was adopted by Congress in December of 2020 to prevent illegal activities such as money laundering, tax fraud, and terrorism financing. The CTA went into effect on January 1, 2024, requiring all corporations and limited liability companies to report their beneficial owners to the federal government. New reporting requirements require businesses to file a Beneficial Ownership Information (“BOI”) report. All reports need to be filed with the Financial Crimes Enforcement Network (FinCEN), an agency of the U.S. Department of Treasury. Failure to timely file these reports can result in substantial penalties.

 WHO NEEDS TO FILE A BOI REPORT?

Business entities required to file a BOI report include domestic and foreign corporations, Limited Liability companies and other entities created by the filing of a document with a Secretary of State or similar governing body. There are 23 types of entities that are exempt from the reporting requirements. These entities include publicly traded companies meeting specified requirements, many nonprofits, and certain large operating companies. For a list of exempt entities, visit: https://fincen.gov/boi-faqs 

HOW TO FILE?

A business required to file a BOI report will do so electronically through a secure filing system available on FinCEN’s BOI E-Filing website https://boiefiling.fincen.gov. Before beginning the online process, certain information will be needed about the business formation, beneficial owners, and identification of beneficial owners. There is no fee for submitting a BOI report to FinCEN. Beneficial Owners of multiple entities can simplify the BOI reporting process by obtaining a FinCEN Identifier (a 12-digit identifying number issued by FinCEN). For more information on creating a FinCEN ID, visit: https://fincenid.fincen.gov/ 

IMPORTANT REPORTING DEADLINES

• A business formed prior to 2024 must file a BOI report prior to December 31, 2024.

• A business formed in 2024 must file a BOI report within 90 days after receiving actual or public notice that its creation or registration is effective.

• A business formed on or after January 1, 2025 must file a BOI report within 30 days after receiving actual or public notice that its creation or registration is effective.

Additionally, a change to previously reported information about the reporting company itself or its Beneficial Owners require filing an updated report within 30 days after a change occurs.

MORE INFORMATION:

BOI reports can be filed using the guidance issued by FinCEN. For more information on exempt entities, filing requirements, and FAQ’s, please visit the FinCEN website at https://www.fincen.gov/boi.

If you require additional information, please feel free to contact an attorney at Wibbenmeyer Iannelli Law.

Attn: Real Estate Owners

Alert! Real Estate Solicitation

Deed solicitations have resurfaced in recent weeks in St. Charles County and St. Louis County, Missouri. Real estate owners are again receiving “RECORDED DEED NOTICE” mailings from several companies. Recent mailings are from “Records Recovery Services” in Missouri and “Property Site” in California. Several of our clients have received these advertisements after transferring real estate to their Revocable Living Trust or a business entity.

The mailings look official and may easily be mistaken as a county bill. The notice includes data obtained through public record including transaction dates, land value identification, property identification and the legal property address. The solicitation is seeking the homeowner pay a certain fee (i.e. $91.00 or $98.00) to obtain a “Property Assessment Profile” or a “Property Report”.

Such a profile or report is unnecessary and real property data is available from the County. Moreover, all our clients receive directly from our office the original real estate deed we prepared after recording. Copies of deeds and certified deeds can also be obtained directly from the County Recorder for a few dollars.

The advertisement letter requesting payment has disclaimers, sometimes in fine print, stating “This is not a bill.” and “This is a solicitation.”. The mailing also states information that the product or service “has not been approved or endorsed by any governmental agency, and this offer is not being made by an agency of the government.”

Likely targets of these solicitations are homeowners who recently engaged in a real estate transaction (by way of purchase, or transfer to a Revocable Trust for estate planning purposes, to a business entity, or to a former spouse pursuant to a divorce). Scammers obtain data from the recorded deeds and mortgages available in public land records.

A reminder to read all notices and bills you receive and ask questions so you do not fall victim to a scam. If you have questions about this notice, please contact our office at (636) 724-3355, or your local County Recorder.

FURTHER PROTECT AGAINST FRAUD

According to the FBI, one of the fastest growing white-collar crimes is property and mortgage fraud. As a response to curb the increase in property fraud crimes, many counties throughout the country offer real estate owners a “Property Fraud Alert” program. Some counties offer the service free of charge while others have elected to charge a small fee. Nearby County Recorders offering the service free of charge include: St. Charles County, St. Louis City, St. Louis County Recorder of Deeds and Jefferson County.

Property Fraud Alert allows real estate owners (individuals, trusts, businesses and other entities) to sign up to be notified when their name is cited on any documents recorded with the respective county recorder’s office. After signing up, a real estate owner is monitored through the county’s electronic recording system and immediately notified when any document is recorded in their registered name. The program does not prevent fraud from happening. However, the program provides an early warning to real estate owners to take appropriate action if possible fraudulent activity has occurred.

Sign up is quick and easy. Visit Property Fraud Alert, select your county and simply enter your individual/trust/business/entity name and you will be notified when a document with the registered name is recorded.

Or, sign up through your respective county Property Fraud Alert site. Local County Recorder links are listed below.

• St. Charles County Recorder of Deeds - Sign Up

• St. Louis County Recorder of Deeds - Sign Up

• City of St. Louis Recorder of Deeds - Sign Up

• Jefferson County Recorder of Deeds - Sign Up

• Franklin County Recorder of Deeds - Sign Up

• Warren County Recorder of Deeds - Sign Up

*Do note, real estate owners must separately register for Property Fraud Alert in every county in which they own property.

Diligently protect yourself and your valuable assets. Contact our office today at (636) 724-3355 to discuss land related questions with a St. Charles, MO attorney.

Support Staff Announcements

Support Staff Announcements

Clients, Colleagues & Friends:

It is bittersweet to announce the retirement of Karen Freihofer as our Administrative Assistant. Many of you may have worked with Karen over the years. She worked with us for more than 15 years and has been an asset to our firm. We thank her for years of loyal dedication, strong work ethic, and the countless contributions she made to our team. Join us in celebrating with her and wishing her all the best in her next endeavors!

We are also proud to welcome Donna Ferrante to our firm as a Legal Secretary. Donna has over 15 years of legal experience and we are excited to have her join our team.

Additionally, we are pleased to announce Jeanette Reece will begin to transition her duties to provide direct attorney support. Jeanette joined our firm in April of 2020 and has 20+ years of experience in the legal profession. With Jeanette in this new role, we expect to be able to respond to client needs more efficiently, increase communication, and improve the efficiency of our team approach.

Wibbenelli looks forward to this next chapter as we continue to provide our clients with quality representation.   To learn more about the firm, visit: www.wibbenmeyerlaw.com

Stressful Life Events

Stressful life events: Moving & DIVORCE

What is the most stressful life event? A recent survey found moving to be the most stressful life event. The second most stressful? Divorce. I’ve moved several times in my life, and in addition to the move itself, the organizing, packing, decluttering, cleaning, unpacking, and re-organizing is quite overwhelming. Add a divorce in the mix and it can be a traumatic experience for anyone.

When going through a divorce, one spouse, if not both spouses, are moving. It is quite common that spouses are still living together in the initial stages of a divorce proceeding. Having to find a new place to live, divide property and assets, and create a new budget are some decisions made in a divorce. If divorcing with children, there are additional considerations to account for, including the school district, your child’s emotional and physical needs, and behavioral issues that may arise as they adjust to new surroundings and new routines.

seek legal counsel for divorce

Moving and divorcing at the same time is a highly stressful and emotional time in one’s life. Hiring a professional moving company can alleviate some stress in the moving process. Similarly, hiring a professional legal team to assist you in a divorce can alleviate some stress. A divorce lawyer represents your interests, protects your rights, navigates the court process and provides legal advice.

contact a st charles divorce lawyer today

If you are seeking to file a divorce or legal separation in St Charles, St Louis or the surrounding metro area, contact an experienced divorce attorney at Wibbenmeyer Iannelli Law today. Call us at 636-724-3355 for an initial consultation.

Law Firm Announcement

Wibbenmeyer Law Firm announces new partner Name Change & Welcomes Legal Assistant

Clients, Colleagues & Friends:

Kevin Wibbenmeyer is proud to announce Brandee Iannelli has been named a partner and the firm is now known as Wibbenmeyer Iannelli Law, LLC. 

Attorney Brandee Iannelli joined the law firm in 2014 and has been a valuable member to the firm and its clients.  Her practice includes estate planning, probate, trust administration, family law, personal injury, and bankruptcy matters.  We look forward to her continued commitment to serving the legal needs of our community. 

The law firm is also pleased to welcome Jeanette Reece as our new Legal Assistant.  She has over 20 years’ experience and has previously worked with Kevin Wibbenmeyer.  She joins our Legal Assistant, Karen Freihofer, who many of you have come to know over the years. 

Wibbenelli is excited about this new chapter as the firm continues to grow and provide our clients with quality representation.   To learn more about the firm, visit: www.wibbenmeyerlaw.com

Amicable Separation, Uncontested Divorce

As our country and the St. Charles and St. Louis County areas begin to emerge from the COVID-19 fog that has been a part of our lives for the majority of 2020, domestic issues involving families and couples are coming to the surface. Partners who previously avoided their differences are now looking to separate after being quarantined together. For couples seeking to dissolve their marriage and have agreed on terms of their divorce can save time, money and frustration.

Uncontested Divorce St Charles Lawyers

In an uncontested divorce, spouses have reached agreements on every major issue that could arise in a divorce. In a case involving children, issues include child custody (both physical and legal), visitation, child support, health insurance, and day care and/or school. Issues of property and debt division also have to be agreed upon, as well as whether one party is to pay maintenance (what we used to call “alimony”) to the other.

When all issues are agreed upon, the parties do not have to go to court. Settlement documents detailing the agreements made are signed by each spouse and filed with the court. After a thirty day waiting period, the judge assigned to the case will enter the judgment, approving the settlement.

Representation in an Uncontested Divorce

It is not necessary to hire an attorney to represent you in a divorce. However, a divorce can be overwhelming and there are a lot of decisions to be made. You may choose to hire a divorce lawyer to represent your interests and assist you throughout the divorce case. An experienced divorce attorney will provide legal advice and guide you through the divorce process.

An attorney cannot represent both parties in a divorce. Even in an uncontested divorce when all issues are agreed upon. To save money, one spouse may hire an attorney to prepare the court pleadings and settlement documents. The other spouse may choose to either not have representation, or may hire an attorney to review the documents before signing.

Cost of an Uncontested Divorce

Uncontested divorces are typically less expensive than contested divorces. Expect court filing fees (amount will vary by each county) and service costs (unless the non-filing spouse waives service by written consent). If an attorney is retained, expect lawyer fees as well. The divorce attorneys at Wibbenmeyer Law usually charge a flat fee in an uncontested divorce and charge hourly in contested cases. Our fee arrangement will differ depending on the circumstances of each case. We let potential clients know up front the method by which you are billed (either flat fee or hourly), even if an exact amount or a range of fees is not given at that first appointment. 

Domestic Violence - Order of Protection

An uncontested divorce may not be advantageous in all situations. Specifically, in cases where a spouse is experiencing or has experienced domestic violence. People who have faced abuse during marriage are oftentimes at a disadvantage when negotiating. If you are seeking legal representation in a divorce, contact a St Charles divorce attorney at the Wibbenmeyer Law Firm today.

Unfortunately, many abuse victims have been quarantined or are sheltered in with their spouse and are unable to seek help. One positive out of the pandemic is the ability to file an Order of Protection online in St. Louis County. This significant development provides court access to abuse victims, who may have unreliable transportation or may struggle to get enough time away from the other spouse without raising suspicion. For more information and to file an Order of Protection online, visit St. Louis County Courts.

Call a divorce attorney today

If you are planning on filing for divorce, or have filed, and need legal representation, call our office at 636-724-3355 for a free consultation. Speak with an experienced divorce lawyer today.

Considering Bankruptcy Because of Covid?

Considering Bankruptcy?

Many Americans are facing financial hardship due to the COVID-19 pandemic. In the last five months, COVID affected jobs, the economy and the stock market. Roughly 49 million unemployment claims were filed since early March. The CARES Act offered temporary relief to individuals and families through one time stimulus payments. It also provided an additional $600.00 per week in unemployment benefits. However, unless extended by Congress, the extra $600 per week in unemployment will end on July 31st. Losing part or all of your income makes it extremely difficult to pay monthly expenses. If you are struggling with mounting debts, repossession, foreclosure, or garnishments, now may be the time to consider filing for Chapter 7 bankruptcy.

Chapter 7 Bankruptcy

Otherwise known as a liquidation, a Chapter 7 bankruptcy discharges (or “wipes out”) most of your unsecured debt. Examples of debt eliminated in a Chapter 7 bankruptcy include credit card debt, unsecured loans (such as personal loans, pay day loans, and title loans), medical bills, unpaid rent from a prior lease, and a deficiency balance from a surrendered or repossessed vehicle. At the time of filing a Chapter 7 bankruptcy petition, an Automatic Stay Order is put in place, immediately stopping collection actions, including garnishments. By filing for a Chapter 7 bankruptcy, individuals financially struggling can get a fresh start.

Am I eligible to file chapter 7 Bankruptcy?

To qualify for a Chapter 7 bankruptcy, certain requirements must be met. If you’ve filed bankruptcy and received a discharge, 8 years must pass before filing again. Also, you must pass the bankruptcy means test. Your average monthly income for the last 6 months must be below the state’s median income for your family size to pass the bankruptcy means test. Payments made under the CARES Act (stimulus and unemployment) do not count toward income for purposes of qualifying for Chapter 7. If your income has been reduced or you lost your job due to COVID, you may qualify today when you did not qualify before. Depending on your income prior to reduction or unemployment, it may be necessary to delay filing bankruptcy a couple months in order to be eligible. Explore your options by consulting with a St. Charles bankruptcy attorney today.

Contact a St Charles Bankruptcy Attorney

Let a bankruptcy lawyer assist you with navigating bankruptcy during this difficult time. The Wibbenmeyer Law Firm, LLC offers free bankruptcy consultations. If you are laid off, struggling to pay debt or otherwise considering filing for Chapter 7 bankruptcy, call a bankruptcy attorney in St Charles, MO today at 636-724-3355.

Stay Safe & Avoid Personal Injury this 4th of July

The 4th of July is a time of patriotism and a celebration of our freedoms. Americans enjoy the holiday with family and friends. We BBQ, spend time outdoors at parks and beaches, attend festivals and parades, and shoot off fireworks. As we head into the extended weekend, be aware that the holiday has become the deadliest day on the road with serious injuries and deaths across the US.

Drivers Be Careful on the Roads

Whether you’re planning a summer road trip or simply driving across town to a family gatheirng, be careful on the roads. With many Americans off work, there is an increase in traffic. Fireworks can lead to distracted driving. Alcohol use also plays a factor in auto accidents and motorcycle crashes. Use extra caution on the roads, watch for motorcyclists, and make sure you have a sober driver.

St Charles Car Accident Lawyers

Plans may look a little different this year with the pandemic, however, we hope you and your loved ones stay safe this holiday weekend. If you or someone you care about is involved in a car crash or injured in an accident this 4th of July, contact a personal injury attorney at The Wibbenmeyer Law Firm today. Our experienced attorneys can explain your legal options and help you obtain compensation. Contact us at (636) 724-3355 for a free consultation.

Estate Planning: More than a Will

Estate Planning: More than a Will

Are you prepared for the unexpected? In these current uncertain times, many people are planning for the unexpected situations of serious illness, mental incapacity or death. Now is an opportune time to create an estate plan to protect yourself, your property and loved ones. The following is a brief summary of important documents to consider including in a comprehensive estate plan.

Last Will and Testament

Your Will directs the distribution of your property at death. Through your Will, you specify who receives your assets. Without a Will, your property is transferred according to state intestacy laws. You also appoint a person (called a Personal Representative or Executor) to manage your affairs according to the terms of your Will. If you have minor children, your Will would also include provisions for the appointment of a guardian to care for your children until they reach the age of majority.

Revocable Living Trust

A Revocable Living Trust is an agreement creating a legal entity to hold property. The creator (called a Grantor or Settlor) is oftentimes the initial Trustee, who manages and administers the trust assets and terms. A successor Trustee is appointed in the event the Grantor/Settlor is unable to act, whether it be due to incapacity or death. The Trust can be amended or revoked at anytime during the lifetime of the Grantor/Settlor. Similar to a Last Will, a Revocable Living Trust details who receives assets upon death. The biggest difference is the trust assets transfer without the necessity of probate. A big misconception is that having a Will avoids probate. Thus, by establishing a Revocable Living Trust and re-titling your assets into the Trust, you avoid the need for probate, saving time and costs.

Financial Durable Power of Attorney

in a Financial Durable Power of Attorney you appoint another individual (called your agent or attorney-in-fact) to make financial decisions on your behalf. Financial decisions include paying bills, buying or selling property, making investments, filing taxes, managing debt, applying for public benefits, etc. You can decide whether the powers in the Financial Durable Power of Attorney are effective immediately upon signing, or are limited to the event of your incapacitation. The powers are only effective during your lifetime, meaning, your agent cannot transact financial matters after your death.

Having a Financial Durable Power of Attorney included in your estate plan is essential if you become seriously ill or incapacitated. The document can also be useful if you travel out of state or internationally and need assistance with your financial affairs while away from home.

Health Care Durable Power of Attorney

In a Health Care Durable Power of Attorney, you appoint an individual (called agent or attorney-in-fact) to make medical decisions for you in the event you are incapacitated and unable to do so for yourself. In this document, you also nominate a person to serve as your guardian should it be necessary for a court to appoint a guardian for you.

Appointing a trusted family member or friend to make your medical decisions for you in the event you are unable to make such health care decisions is an important part of your estate plan.

Living Will (Health Care Directive)

In a Living Will, also called a Health Care Directive of Advanced Directive, you decide whether or not you want certain treatment and procedures to sustain your life if you were in a persistent vegetative state. This important declaration sets forth your wishes if you were in a permanent coma with no significant chance of recovery. Without a Living Will, decisions such as removing life support are made by your health care agent or your family members. Including this important document in your estate plan will help your family during a highly emotional time.

Estate Planning: More than a Will

A comprehensive estate plan will include essential documents to assist you during your lifetime and accomplish your wishes at death. The attorneys at The Wibbenmeyer Law Firm LLC, in St Charles MO assist clients with their estate planning needs. Call (636) 724-3355 to speak with an attorney to create or amend your estate plan.

We're In This Together Newsletter

We hope you are doing well, staying safe and remaining positive in these unprecedented times.  The last several months have been trying for all of us.  Everyone has been affected in different ways.  Our firm continues to provide legal services, with measures in place to protect the health and safety of our clients, staff and their families.  We are providing the below information to assist you in navigating legal issues that you may be facing.  Together, we will get through this uncertain period.

FAMILY LAW

The COVID-19 pandemic presents challenging family law issues.  Parents are not receiving visitation or custody because of coronavirus concerns.  Further, loss of employment may affect child support or maintenance.  If you need assistance with these issues, give us a call to discuss.

 
ESTATE PLANNING

In these uncertain times, people are focusing on their estate planning needs.  Whether it be Last Wills, Trusts, Living Wills, Powers of Attorney, etc., we are able to help you create or update your estate plan. Contact us to eliminate stress and bring you and your loved ones peace of mind.   

BANKRUPTCY

Employment loss and the inability to pay expenses is a worry for many Americans impacted by COVID-19.  If you find yourself accessing your financial situation and are considering filing for bankruptcy, give us a call to discuss your options and find out if you qualify. 

 
LEGAL NETWORKS

Check with your employer to see if you have benefits through any of the following networks, as your legal fees may be covered:

• ARAG
  LegalEase/ LegalAccess
  MetLife (formerly Hyatt Legal)
  US Legal Services
  Workplace Options

CALL US AT (636) 724-3355 

We are here for you and committed to assisting your legal needs.  

Family Law Issues Amid Covid-19

As I write this article, we are under a stay-at-home order in the State of Missouri due to Covid-19. With that comes a whole host of issues for family law. Currently, questions about child custody, denial of visitation, and child support are hot topics in family law.

Questions arise when one parent withholds visitation from the other parent out of alleged concerns regarding Covid-19. A common example is when one parent is a health care professional or an essential worker and the other parent denies visitation or custody citing potential exposure to the minor child or children. This is an evolving issue and one in which is not easily dealt with.

On the one hand, there are legitimate concerns that persons working in the health care industry are at increased risk for exposure to Covid-19 and therefore more likely to infect the minor child or children. However, with limited guidance on this issue, courts will most likely insist on more than the possibility of an infection transmission before the denial of visitation and custody is justified.

Most separate parents facing these challenging issues have a current custody plan in place. This parenting plan ordered by the court should clearly lay out dates and times for visitation and custody with the parents.

But what do you do if you are legitimately worried that the other parent may infect your child, or that the other parent’s household is at risk?

First, consult with the other parent before you do anything else. You may find that by talking about these issues with the other parent, the danger is not as great as you originally thought. If no satisfaction comes of that, then do call an attorney for an opinion.

When I get calls on similar issues, I screen to see if I can tell whether there is a legitimate concern for safety, or whether it is a ploy to try to gain the upper hand at custody. This is also what the courts will be looking for. Are the concerns of the withholding parent legitimate or are they a subterfuge to gaining the upper hand in a custody proceeding now or later? Once the courts open back up and the pandemic has largely subsided, parents will have to answer for their actions during this critical time.

The courts, in my opinion, will not treat lightly the withholding the visitation and custody in what seemingly appears to be a ploy to get more custody. It will be the basis for a motion to modify as to custody. People are stressed and anxious for many reasons right now. A parent taking advantage during this time will not be looked favorably upon by the courts.

What do you do if the other parent is withholding your custody or visitation? One option is file a family access motion. Although, this has limited appeal right now due to the lack of availability by the courts. Another option is file a restraining order, however, that can also be time-consuming and expensive. The right course of action might be to file an immediate Motion to Modify and ask for a temporary hearing through that proceeding.

If you share custody and you pay child support, and you suffer a reduction of income or loss of job, what do you do? The court order you have continues in effect until modified by the court. However, if you file a Motion to Modify at this time the courts may order that the child support order be reduced retroactive to the filing of the motion and proper service on the other parent. For this reason, it may be best to move forward with a child support modification at this time, at least filing it, even if it will not be heard for several months later.

There are limited abilities to get to the courts at this time. Likely, courtrooms will be open soon and parents will be able to have more meaningful access to the courts. If you have questions or need legal assistance, give us a call at 636-724-3355 and we will let you know what can and cannot be done.