When most of us worry about the possibility that an elderly parent might become the victim of elder abuse, we tend to focus on the risk of physical and/or emotional abuse. Sadly, both physical and emotional abuse of the elderly occur at an alarming rate; however, there is another type of elder abuse that isn’t discussed as frequently – elder sexual abuse. The Oklahoma City elder law attorneys at Parman & Easterday explain how to spot signs that a parent may be the victim of elder sexual … [Read more...]
What is a GST Trust?
A Generation-Skipping or “GST” trust can be a good way to keep assets out of the taxable estate of a beneficiary and yet still allow them to be used for the beneficiary’s benefit during life. Read on to learn more about this type of trust and whether it might make sense for you. What is a GST Trust? … [Read more...]
New Tax Proposal re: Retirement Savings
There are new tax proposals working their way through the House and Senate. These proposals, if passed, would change retirement savings significantly. Read on to learn more about these proposals and whether they might impact you or your clients. New Tax Proposal re: Retirement Savings … [Read more...]
Top Situations When You Should Talk to Oklahoma City Trust Lawyers
Oklahoma City trust lawyers at Parman & Easterday provide help creating all different types of trusts that can help you to protect assets and provide for loved ones. Making a trust is a smart step for many people planning for their future, although it is a common misconception that trust creation is only for the wealthy. If you are not certain whether creating a trust could benefit you and your loved ones, you should reach out to our legal team to find out about all of the different things … [Read more...]
How to Find Good Elder Law Attorneys in Overland Park
Many people are interested in working with elder law attorneys in Overland Park to provide them with assistance on key issues that affect seniors. It is not just older people who need help from elder law professionals either, as some of the legal matters which elder law attorneys address are important for people of all ages. The legal issues which elder law attorneys provide assistance with include planning for incapacity, estate planning, financial planning, and legacy planning. In all … [Read more...]
What Is Considered a Countable Asset for Medicaid in Oklahoma?
You may prefer not to dwell on it; however, there is a very good chance you will need to qualify for Medicaid during your retirement years. If that does indeed come to pass, you may find that the combined value of your non-exempt assets is a potential bar to eligibility. Looking ahead, it helps to know what assets are considered disqualifiable assets for Medicaid and which assets are not considered countable resources for the purpose of determining eligibility for Medicaid in Oklahoma. Why … [Read more...]
Why Might a Living Trust Work Better than a Will to Distribute My Estate?
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...]
