Although a Last Will and Testament remains the most common estate planning document, a trust is not far behind in popularity. If you decide to add a trust to your estate plan, you will have to decide which type of trust to create. An Overland Park trust attorney at Parman & Easterday explains some of the many advantages to revocable trusts. Trust Fundamentals A trust is a relationship whereby property is held by one party for the benefit of another. A Settlor (also referred to as a … [Read more...] about Revocable Trust Advantages
One common reason to create an estate plan is to ensure that your assets are used to provide for loved ones after you are gone. Making direct gifts within your estate plan is one way to do that. There are times when you may not want to make a direct gift if the assets are valuable or the beneficiary is unprepared to manage the assets. An Oklahoma City trust attorney at Parman & Easterday explains how you can use a living trust to stagger an inheritance instead of gifting it … [Read more...] about Staggering an Inheritance Using a Living Trust
As your estate and your family grow, your estate plan should grow with them. Over the course of your life you will probably add additional goals and objectives to your overall plan. One of the most popular additions to the average estate plan is probate avoidance. An Overland Park probate attorney at Parman & Easterday explains why avoiding probate is so important. The Probate Process Probate is the legal process typically required after the death of an individual. Probate serves … [Read more...] about Why Is Avoiding Probate So Important?
Although most Americans admit to knowing the importance of inheritance planning, over half do not have a plan in place. If you are among those who have yet to get started on a plan, it may help motivate you to learn more about inheritance planning. Toward that end, an Oklahoma City inheritance planning attorney at Parman & Easterday explains some inheritance planning basics. DIY planning does more harm than good. In the 21st century, it is tempting to try to save time and money by … [Read more...] about Inheritance Planning Basics
Distributing your estate assets can be accomplished using either a Will or a living trust. Because of the additional benefits a trust offers, many people choose to rely on a trust as the primary vehicle for distributing their estate assets. That does not mean, however, that a Will is no longer necessary. An Oklahoma City probate attorney at Parman & Easterday explains why you still need a pour-over Will if you are counting on a trust to distribute your estate assets. What Can a Basic Last … [Read more...] about What Is a Pour-Over Will?
Whether you are just starting out in your career or are nearing retirement, where you decide to live is among the most important decisions you will make. You have likely considered where your city stands in terms of the monetary cost of living; however, have you considered how healthy your city is? An Oklahoma City estate planning attorney at Parman & Easterday discusses how Oklahoma City ranks in terms of the nation’s healthiest cities. What Data Was Compared? To determine America’s … [Read more...] about Healthiest and Unhealthiest US Cities — Where Does Your City Rank?
A trust is among the most common additions to the average estate plan. As such, the time may come when you consider adding a trust to your estate plan. Deciding which type of trust is best for your needs, however, can be difficult. An Overland Park trust attorney at Parman & Easterday helps you decide if a testamentary trust is right for you. Why Your Last Will and Testament May Not Be Enough For most people, a Last Will and Testament serves as their initial estate planning document … [Read more...] about Is a Testamentary Trust Right for You?
https://youtu.be/wlxi8R9cDk4 This is MUST-SEE interview that you should watch and share with loved ones. … [Read more...] about Larry Parman’s Brother, A Medical Doctor, Survives COVID-19 and Shares Important Lessons Learned in This Interview
If you are married, you probably want to leave all, or a significant portion, of your estate to your spouse. For the average estate plan, doing so isn't cause for special consideration. If, however, your spouse is not a citizen of the United States, you will need to take that into account. An Overland Park estate planning attorney at Parman & Easterday explains why making your non-citizen spouse a beneficiary of your estate must be accomplished with care. The American Melting … [Read more...] about Can My Non-Citizen Spouse Be a Beneficiary of My Estate?
by Steve Hartnett 0 Comments The novel “coronavirus” (also called “SARS-CoV-2”) causes the disease “COVID-19.” It first appeared in late 2019 and was reported to the World Health Organization (WHO) on December 31, 2019. Here’s a link to the WHO’s site for the latest global information. At this point, the virus has infected over a quarter million people on every continent except Antarctica. Nursing homes and long-term care facilities are especially hard hit. The biggest early cluster of … [Read more...] about Coronavirus and Nursing Homes