Like most people, when you created your initial estate plan, you probably executed a Last Will and Testament and used that instrument to distribute your entire estate. As both your family and your estate grew over the years, however, you may have started to realize that additional tools and strategies may be needed in your estate plan to account for that growth. At some point, you may even consider incorporating a living trust into your estate plan and using that trust as your primary method of … [Read more...]
Key Reasons Not to Wait to Make a Medicaid Plan
If you haven't already done so, you should contact our Overland Park Medicaid attorneys to help with the creation of your Medicaid plan well before you find yourself needing Medicaid to help pay for the costs of your healthcare. If you do not have a Medicaid plan, you are vulnerable to significant financial expense and could forfeit your opportunity to leave a legacy for your loved ones. You don't want to take this chance.Parman & Easterday can provide guidance on whether you need a … [Read more...]
New Estate Tax Proposal
A new estate tax proposal would lower the amount passing free from tax to $3.5 million and increase the rates of taxation. It would also eliminate some tried and true strategies for reducing estate taxation. Read on to learn more about this proposal and its prospects.New Estate Tax Proposal … [Read more...]
Will You Ever Need to Pay an Inheritance Tax in Oklahoma?
If you inherit property in Oklahoma or are leaving property to a loved one within this state, you should understand the inheritance tax rules in Oklahoma. While the state does not impose an inheritance or estate tax, this does not mean taxes will not be assessed as a result of a death. You should talk with an experienced attorney about how to protect your inheritance or the wealth you are leaving to loved ones and reduce or avoid taxes altogether.Parman & Easterday can provide … [Read more...]
Will You Have to Move to a Nursing Home?
An Overland Park Medicaid attorney at Parman & Easterday can help you prepare for the possibility that you will need to move to a nursing home. It is always a good idea to prepare in advance should you end up requiring nursing home care. Statistically, there is a 70% chance you will require long term care before you pass. By planning in advance, you have more time to research care facilities and find the one with a good reputation that seems to be a good fit for you.You will also be … [Read more...]
Is Probate Necessary When a Spouse Dies in Oklahoma?
If you recently lost your spouse, you are undoubtedly still grieving that loss. You may not even have considered the legal and practical ramifications of your spouse’s death yet. You may need to do so very soon. Your spouse may have owned assets individually or possibly jointly with you. These assets may need to be probated. You may be asking yourself whether probate is necessary when a spouse dies in Oklahoma and under what circumstances. The answer is not a simple one. Probate Basics Most … [Read more...]
Naming a Trust as Beneficiary of an IRA
Whom should you name as the beneficiary of your IRA or Qualified Plan? Sometimes, it can be best to name a trust for your intended beneficiary. Read on to see the protections a trust can offer that a direct designation of the individual would not.Naming a Trust as Beneficiary of an IRA … [Read more...]
Qualities of the Ideal Agent
Choosing the right Agent under a Power of Attorney is one of the most important choices. This article discusses the qualities of an ideal Agent and qualities to avoid in selecting an Agent. Read on to learn more.Selecting an Agent … [Read more...]
The Steps Involved in Special Needs Planning
A special needs planning attorney at Parman & Easterday can provide personalized advice to parents with a child with disabilities. If your child has a disability, it is important that you work with a compassionate and knowledgeable attorney to create a special needs plan. This plan is vital to ensure your child is safe and provided for throughout his or her lifetime.Parman & Easterday has helped many families with the special needs planning process. In every situation, we provide an … [Read more...]
5 Reasons Young Families Should Talk to Estate Planning Lawyers
Estate planning lawyers can provide invaluable help to people of all ages. Parman & Easterday works closely with clients at all different life stages to make sure their plans provide for and protect their families. It's important to have the right plans in place to safeguard the assets you have acquired and provide for your family members should something happen to you.Many people believe that only seniors need to worry about having an estate plan in place. The reality is that it is … [Read more...]
