The most commonly utilized estate planning device other than a last will is the revocable living trust. If you have always assumed that you will be using a will, you should understand the benefits that living trusts provide so you can make an informed decision. Consolidation of Assets When a will is used, the executor … Read more
“Probate” is one of those words that we all have heard, yet few of us really know what it means. We know it has something to do with dying, but that’s about it. When an individual dies owning assets, there is a process to change the title from the (now deceased) owner, to the new … Read more
Facing difficulties in life sharpens our focus. When tragedy strikes, we recognize what’s important in our lives: Our family, our friends, and our values. Henry Wadsworth Longfellow, the famous 19th century American poet, said “Into each life some rain must fall.” We have all had “rain” in our lives. Our tragedies typically are quite personal: the … Read more
Since the dawn of time, pets have held an important place in our hearts and our homes. Ancient Egyptians used to mummify faithful pets and have them buried with themselves. This was a dubious honor for the pet. Even in modern America, people have attempted to take their pets with them. For example, Mary Murphy … Read more
If your time as a trustee has come, you will be faced with a variety of responsibilities in the near future. As the days, weeks, and months go by, it is imperative that you complete all the necessary tasks at the appropriate time. You are not expected to get to work the day that the … 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
If you’re in the process of creating your first estate plan or updating what you already have in place, you may be familiar with a revocable living trust. But if you’re not, there’s no better time than now to learn more. Here’s how we describe a living trust on our website: A trust is a … Read more
Compliments of the McGee Law Firm, Attorney Brandon McGee When asked how people want their assets divided after they are gone, some people have definite opinions, while others are less certain. Not only do people differ in the level of their uncertainty concerning how to divvy up their assets, they even differ in what factors … Read more
Special Needs Trusts are just one aspect of a proper estate plan. Read on for more information on how we can help with your special needs trust or estate planning questions. Sam and Laura were delighted with the birth of their daughter Ella. The proud parents dutifully touted photos and began making college fund contributions. … Read more
Compliments of the McGee Law Firm, Attorney Brandon McGee While individually we may be kind and caring, Americans as a group are a litigious bunch. While protecting yourself from lawsuits can be a difficult, complicated task, you can easily take steps to protect your children. You can protect your children from lawsuits, including divorce, by not … Read more