Since the creation of Individual Retirement Accounts in 1971, they have become an increasingly important part of a well-balanced Estate Plan. Taxpayers contribute to the IRA. Upon attaining a certain age, the taxpayer begins taking distributions based upon tables promulgated by the Internal Revenue Service. The Internal Revenue Service recently updated those tables which will significantly impact certain taxpayers
The New Year gives us an opportunity to start fresh. If you don’t yet have an estate plan, now’s a great time to make an appointment with an Estate Planning attorney to talk about your goals and concerns. If you already have one, the New Year gives you an opportunity to review it to ensure … Read more
Most people with substantial assets are interested in benefiting those around them. The fruits of success are best when shared with those close to you. In 2022, each person can give up to $16,000 per year to any other person without any gift taxation. It’s important to note that you can give $16,000 to each and … Read more
Compliments of the McGee Law Firm, Attorney Brandon McGee It is the call we all know will come one day. One or both of our parents have fallen seriously ill. Of course, our first reaction is concern. But, after the shocking moment has passed, we wonder “what do I do now?” If your parents have done effective legacy … Read more
Compliments of the McGee Law Firm, Attorney Brandon McGee Actor Wesley Snipes has given the anti-tax movement in the U.S. a new face. The actor earned more than $38 million between 1999 and 2004, but failed to file any income tax returns for those years. He and his co-conspirators claimed that a technicality in the … Read more
Transferring real estate to a trust has become a widely used tool in estate planning. Unfortunately, it’s easy to overlook important aspects of the transfer that lead to unintended consequences. With careful planning, you can avoid these traps. Read on to learn more.
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. … Read more
Compliments of the McGee Law Firm, Attorney Brandon McGee Surprisingly, estate planning and footwear share many similarities. Let’s see how: Like estate plans, shoes protect you from unexpected obstacles in your path. Like a great pair of shoes, a good estate plan prepares you for any contingency. When choosing shoes, you need to consider the … Read more
Senators Sanders and Whitehouse have introduced legislation in the Senate which would significantly alter the Estate Planning landscape. It would dramatically change the tools we use to plan for our clients. Time is of the essence. Read on to learn more.
The Academy takes learning seriously. The Academy’s Spring Summit included numerous substantive legal education sessions, as well as sessions on marketing and law office management. The virtual conference also included opportunities for networking and fun. Read on to learn more.