What is Considered a Gift under Gift Tax Law? It is better to give than to receive. But if you give a gift above a certain amount, you might end up owing money to the Internal Revenue Service (IRS). The federal tax code has very specific rules about how much you are allowed to transfer […]
Your New Year’s Resolution: Towards an Estate Plan Everyone needs information about what will happen when they, or a loved one dies, and what plan can be put in place to influence, in a positive way, that outcome. Even if you don’t think you have an estate worth worrying about yet; or if you are […]
Many people fall into the trap of thinking that wills and estate plans are only for wealthy individuals. Other people falsely believe that because they are young, there is little to no reason to write a will or make a plan. But death will occur, sometimes without warning striking even the young. Other times procrastination […]
Not surprisingly, the current makeup of Congress is out to “tax the rich.” There are a number of proposals in draft legislation which could have dramatic implications for existing estate plans. Moreover, even though we don’t know what the exact final version of this legislation will be, these measures are so drastic and so catastrophic […]
Local estate planning attorney Shawn McCammon will be covering Estate Planning basics and how to avoid common mistakes people make when it comes to their Will or Trust planning. He will be talking about the importance of getting a written plan in place so the state doesn't make all your decisions for you, Wills vs. […]
Today’s youth already know there is a vast amount of information at their fingertips via the web. Some of today’s young adults are starting to invest very early in their adult and even pre-adult life. Are your children going to be among them? Sadly --until we as parents insist on changing this-- you cannot count […]
The ready availability and low cost of online services that create a Last Will and Testament, Trust, and other legal documents may make it tempting to bypass talking face-to-face with a lawyer about your estate plan. An important objective of estate planning is to give you the peace of mind that you have taken care […]
The World Seems Crazy These Days – You Don’t have to Add to the Chaos! Having your affairs in order is like having a clean organized house. It feels great! Call up that feeling you have when you have lost an item that you need now but did not put away last time you used […]
You'll probably rely on Social Security quite a bit once you retire, so it's important to understand how the program works. Unfortunately, a large number of Americans are in the dark in that regard. In a recent MassMutual survey, 35% of near retirees aged 55 to 65 failed a basic Social Security quiz, while 18% earned only a D. Just 3% were able to answer all 12 questions correctly.
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.
