The legal battle over Tony Hsieh’s estate has entered a new and stranger phase. Hsieh, the former CEO of Zappos and the man behind a bold effort to revitalize downtown Las Vegas, died in November 2020 at age 46 from smoke inhalation injuries suffered in a Connecticut house fire. He was worth an estimated $500 … Read more
If you own a business, your legacy is not defined only by what you built. It is also defined by what happens next. Without a clear succession plan, even a profitable and well-run company can face instability, conflict, or forced liquidation at the very moment continuity matters most. Business succession planning gives you control over … Read more
Elder financial abuse has become one of the most pressing threats facing older adults in Fort Worth and throughout Texas. The problem grows each year as seniors live longer, manage more assets, and rely on others for help with daily tasks. Financial exploitation often hides in plain sight, and the people committing it are frequently … Read more
There are many tools in the estate planning toolkit, and targeted solutions can be implemented to address specific circumstances. With this in mind, let’s look at some of the trusts that can be used to respond to common challenges. Spendthrift Trust Not everyone is prepared to handle a sudden inheritance. A spendthrift trust gives you … Read more
For many years Estate Planning attorneys touted irrevocable trusts as an immutable way to set an estate plan in stone. As more and more states have adopted the Uniform Trust Code that has changed. Provisions of the Uniform Trust Code allow for modification of an otherwise irrevocable trust which has altered the landscape of Estate Planning. Irrevocable Trusts have long been an effective, albeit static, estate planning tool, with the ability to alter irrevocable trusts, they provide more flexibility and opportunity than ever. Read on to learn more.
Studies show that the majority of Americans do not have estate plans in place. Interestingly, researchers have found that most people who are unprepared know that estate planning is important. Many say they haven’t acted because they don’t know where to begin. With this in mind, we are going to break it down and explain … 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 What would you want to leave behind for your family? If your choices were A) a contentious mess, or B) a well-coordinated estate plan, you would choose option B, right? All too many of us end up with option A. In fact, a recent national survey … Read more
When planning for children with special needs, it takes special care to preserve their eligibility for public benefits. An ABLE account is a new way to preserve eligibility while gaining tax advantages. Read on to learn more about this new tool in planning for those who were disabled by age 26.
Trusts can be very flexible instruments. One of the ways to add flexibility is by using powers of appointment. This article will examine the different types of powers of appointment and how that can impact taxation.