While estate planning often conjures images of wills and trusts, ensuring a seamless transition during life’s unexpected turns is equally vital. Enter the Power of Attorney (POA) – a critical instrument that can safeguard both your financial and personal well-being during periods of incapacitation. 1. Understanding Power of Attorney: At its core, a POA is … Read more
Individuals often have reservations about seeking out an attorney’s help with their Estate Plan. Sometimes they worry about the cost, other times they think that they can do it on their own, and sometimes they die before the thought of creating an Estate Plan ever crosses their mind. Unfortunately, the issues that arise from a lack of proper Estate Planning on death don’t care who we are. As this blog demonstrates, even celebrities struggle with creating a comprehensive Estate Plan.
As an estate planning attorney, I continually emphasize the significance of strategic estate planning. One of the most important tools for effective estate management and probate avoidance is the Trust, specifically a fully funded trust. In this post, we’ll delve into the importance of trusts, why it’s crucial to fund them fully, and how this … Read more
Owning a small business brings pride and fulfillment, but it also presents unique challenges when it comes to estate planning. For small business owners, personal and business finances often intertwine, making the planning process more intricate. Crafting a comprehensive estate plan ensures that the business you’ve worked so hard to build continues to thrive after you’re gone … Read more
Usually women sue their husband’s estate to enforce their right to the elective share of their husband’s estate. Of course, it’s not just wives that sue the estate of their husbands, but both husbands and wives who sue the estates of their spouses, be they husbands or wives. Enforcement of the elective share usually results from a lawsuit, although sometimes its enforcement of provisions of an Estate Plan that cause the lawsuit. This article isn’t about a lawsuit over the right to an elective share, rather it’s about a clever attempt at avoiding one state’s slayer statute.
The importance of a living will: In the wintry season of 1963, on December 3, Mary and Robert Schindler welcomed a beautiful baby girl named Theresa Marie, fondly known as Terri. Growing up in Pennsylvania, she enjoyed a normal childhood filled with playtimes with her siblings and pets and exploring her passion for music and … Read more
The sheer pleasure grandparents derive from quality time spent with their grandkids is truly incomparable. A conversation with a grandparent often unfurls into a vivid show-and-tell of their beloved grandkids, painting images of enchanting trips to the zoo or serene days by the lakeside. Those heartwarming moments of strolling hand in hand to a favored … Read more
At the McGee Law Firm, we understand the complexities of life. As an estate planning attorney, I aim to help you navigate the intricate labyrinth of legal and personal decisions that create your legacy. One crucial aspect of this journey that often gets overlooked is the importance of keeping your powers of attorney (POA) current. … Read more
As you delve into the realm of estate planning, you might find that it extends beyond merely distributing your assets. It is also about creating harmony, preserving family relationships, and ensuring your wishes are respected. Herein lies the importance of family meetings in estate planning. They offer an opportunity to enhance communication, prevent misunderstandings, and … Read more
Most everyone knows that each American can pass nearly $13 million in assets before worrying about an estate tax. In addition, it’s possible to pass an unlimited amount to a spouse without incurring any tax. Of course, to obtain the benefit of the unlimited marital deduction, the amount passing to the spouse must meet specific requirements.