Most Estate Planning attorneys will tell you that creating an Estate Plan helps prevent litigation after death. That statement needs a caveat. Most of the time, a properly created Estate Plan will prevent litigation. As this article demonstrates, sometimes, even with an Estate Plan, the family ends up in litigation.
This blog post aims to break down the seemingly abstract concept of a family trust into understandable terms, providing clients and potential clients of the McGee Law Firm with a sense of relief and confidence in their estate planning decisions. Navigating the world of estate planning can be daunting, especially when it comes to understanding … Read more
Retirement and estate planning are both related to gratitude. I’m retiring after 23 years with the Academy. The Academy and its Members have made me a better lawyer, a better teacher, and a better person. Whether you are retiring or doing estate planning, don’t forget to express your gratitude to those who have made a difference in your life.
The Internal Revenue Service recently released its Strategic Operating Plan. In that plan, the Service indicated that it planned to conduct more audits, especially on the wealthiest taxpayers. Hearing that you are facing an audit is enough to strike fear into even the most stoic of individuals. No one is immune from audit; however, taxpayers following certain steps are less likely to be audited than those who don’t.
Estate planning is a crucial aspect of life that’s often misunderstood or overlooked. Many believe it’s only necessary for older people or the wealthy, but this couldn’t be further from the truth. Estate planning is for everyone, regardless of age or financial status. It’s about preparing for the unexpected and ensuring your wishes are honored. Let’s explore … Read more
In today’s society, where traditional gender roles are quickly becoming a thing of the past, the importance of estate planning remains significant, especially for women. This necessity stems from the fact that women, on average, outlive men. Given this longevity, women are more likely to face the repercussions of inadequate estate planning. There are common misconceptions … Read more
Imagine discovering you’re married without walking down the aisle or exchanging vows in a formal ceremony. Sounds improbable? Yet, it’s entirely possible due to a legal concept known as “common law” marriage, recognized in several states across the U.S. Common law marriage doesn’t require a license or a ceremonial event. Instead, it hinges on certain conditions: both … Read more
When you are deciding what estate planning tools to use, a living trust should definitely be one of the options under consideration. A living trust is a special type of legal arrangement. You create and fund a trust, and that trust becomes the owner of the assets you transfer into it. You also name beneficiaries … Read more
Estate planning is something old people do. This is one of the most common and dangerous misconceptions that many people harbor. In reality, estate planning is something everyone needs to do — even, and perhaps especially, young people. While it may seem crazy to consider issues such as death and incapacity, which are hopefully very … Read more
Estate planning might sound like something only reserved for the wealthy elite, conjuring images of sprawling mansions, vast fortunes, and family dynasties. However, the reality is far from this stereotype. Estate planning is essential for everyone, regardless of their financial status. Whether you’re a millionaire or have a more modest bank account, having a solid … Read more