Compliments of the McGee Law Firm, Attorney Brandon McGee Estate Planning is like a team sport. In these turbulent economic times, sometimes it may seem like you are going it all alone. However, you’ll find that bringing together a team of qualified professionals will bring you peace of mind as you work towards your goals. Before doing anything else, you must first select the members of your team to help you achieve your goals. This team consists of the following professionals, depending … [Read more...] about Your Team is on Your Side
Irrevocable Trusts are often included as part of a comprehensive estate plan and are usually established many years before they pay out or terminate. These trusts didn’t change with changes in beneficiary circumstances or with evolving legislation, but now they can. This article explores how. … [Read more...] about Changing “Irrevocable” Trusts Through Decanting
Compliments of the McGee Law Firm, Attorney Brandon McGee You are named as Successor Trustee in your parent’s, sibling’s, or other loved one’s Trust. This is an honor and a responsibility. Of course, it is an honor because they have chosen you to carry out the wishes closest to their heart. It is a responsibility because the actions you make can have serious legal and tax consequences. As Successor Trustee, when the initial Trustee (usually the “grantor” or owner of the Trust) dies, you … [Read more...] about Trustee: an Honor and a Responsibility
It’s a tall task to think about the well-being of your children after your passing. And that’s especially true if you have children who are under the age of 18. As difficult as it may be, it’s critical that you consider the many ways you can provide for them even after you’re gone. Here are three things to consider: Purchase life insurance: With a life insurance policy, you can name your child or children as your beneficiary. This puts them in line to receive a death benefit payout upon … [Read more...] about How to Provide For Your Children After You’re Gone
Irrevocable Trusts have long been an effective, albeit static, estate planning tool. These trusts didn’t always change with circumstance, but now they can. This article explores how. … [Read more...] about Changing “Irrevocable” Trusts Through Judicial and Nonjudicial Modification
Compliments of the McGee Law Firm, Attorney Brandon McGee A power of attorney is a way to delegate your decision-making authority to someone else. People often ask “My daughter has my power of attorney, is that all she needs?” While powers of attorney can be useful under some circumstances, people think they are of broader effectiveness than they are. First off, a power of attorney is only effective so long as the person granting the power, otherwise known as the “principal,” is alive. … [Read more...] about Powers of Attorney – May Not Be Enough
Long-term care planning isn’t something you look forward to. In fact, it may be something you have continually put off. It’s hard to think about a future in which you may require assistance with daily activities. But if you don’t do this now, it could cause you more stress down the road. Here are three of the most important long-term care planning questions you can answer: 1. How will you pay for long-term care? This is the first question to answer, as it’ll dictate many decisions regarding … [Read more...] about Long-Term Care Planning: Have You Answered These Questions?
There’s a way to make a charitable gift and yet be able to influence where it goes and how it’s invested. This can be very handy if you want to time your charitable giving for income tax reasons. Read on to learn more. … [Read more...] about Donor Advised Funds: Too Good to Be True?
Compliments of the McGee Law Firm, Attorney Brandon McGee Your spouse has been there with you through thick and thin. They have been your rock, the foundation upon which you’ve built your life. Your spouse has probably been your friend, confidant, and true partner. If your spouse is ailing now, there are ways that you can protect them, even after you are gone. Let’s say your spouse has a slowly degenerative disease, like Alzheimer’s disease. Hopefully, their illness may be kept at bay. … [Read more...] about Caring for Your Spouse….Even After You’re Gone
Compliments of the McGee Law Firm, Attorney Brandon McGee More and more often, it seems that financial swindles are front-page news. Even seemingly savvy investors have been swindled out of their life savings. One swindle, involving Bernie Madoff and his investment company, recently ended in a guilty plea to numerous counts of fraud. Investors discovered that $65 billion in their investment accounts held by Madoff simply did not exist. The investors that fell prey to the Madoff ponzi … [Read more...] about Scams, Swindles, and Fraud, Oh my!