Compliments of the McGee Law Firm, Attorney Brandon McGee There are some things you cannot control, like the economy or the weather. But you can do things that will provide real security in unsettling times. Financial security is one aspect of your security and, of course, it is important to meet with your financial planner … Read more
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.
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.
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 … Read more
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.
Occasionally, those who are not Estate Planning attorneys will attempt to do their own Estate Planning. Perhaps they’ll go online and get a document to use. Unfortunately, Estate Planning is about far more than a cookie-cutter document. Read on to learn more.
Compliments of the McGee Law Firm, Attorney Brandon McGee Death and incapacity are natural parts of the process of life. We are born; we grow up; we may experience incapacity; and we eventually pass away. Along the way, we develop our values and accumulate assets and experiences. Sure, when we die, we want to pass … Read more
Disclaimers can be a good way of getting assets where you want them to go. If the disclaimer is a “qualified disclaimer,” the client isn’t treated as having made a taxable gift. Sometimes a “double disclaimer” is necessary to achieve the desired outcome. Read on to learn more.
Grantor trusts are trusts which are income taxed to the “substantial owner” of the trust. Usually, the substantial owner is otherwise known as the “grantor” or “trustor.” Nongrantor trusts are trusts which are not grantor trusts. But, what is the tax reporting for grantor and nongrantor trusts? Read on to learn more.
Tax proposals would increase capital gains rates, among other things. These proposed changes could make a Charitable Remainder Trust look even better. A Charitable Remainder Trust can earn the donor an income tax deduction upfront and defer gains on its sale of assets. Read on to learn more.