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Home » Estate Planning

Estate Planning

Preparing for the Unexpected…and the Eventual

January 13, 2021 by Larry Parman, Attorney at Law

The world is an unusual place. Things you’d never expect to happen sometimes actually do happen. There are natural disasters and unusual phenomenon. It’s important to prepare, not just for the unexpected but the eventual. by Steve Hartnett All of us face difficulties and tragedies in our lives. Some of these difficulties are expected and some are unexpected. 2020 has been a year of many unexpected difficulties. While all of us get sick from time to time, nobody anticipated the … [Read more...] about Preparing for the Unexpected…and the Eventual

Filed Under: Estate Planning, Legal Education Tagged With: disasters, Estate Planning, eventual, preparing, unexpected

Getting Together with Family for the Holidays

December 23, 2020 by Courtesy of Parman and Easterday

The holidays are a special time with family and friends. You can take the opportunity to check on elderly loved ones. It’s also a great time to discuss planning. Read on to learn more. by Steve Hartnett The holidays are a special time for friends and family. We gather around the tree recalling past joyful times and we remember loved ones who are no longer with us. While we are gathered is a great time to pull loved ones aside and speak with them about your estate planning. If you’ve … [Read more...] about Getting Together with Family for the Holidays

Filed Under: Estate Planning, Legal Education Tagged With: Advance Health Care Directive, Estate Planning, Health Care Power of Attorney, living will

Planning Is Important

December 9, 2020 by Courtesy of Parman and Easterday

Planning is important. End-of-year tax planning is one part of that planning. This year you should also consider whether you’ve had any payroll tax withholdings deferred. If your employer deferred those withholdings, you’ll have more money withheld next year than usual. That means you’ll have less money for other things, like IRA contributions. by Steve Hartnett  As Autumn arrives, it’s not too early to consider end-of-year planning. Fundamental to end-of-year planning is deciding … [Read more...] about Planning Is Important

Filed Under: Estate Planning, Legal Education Tagged With: end-of-year planning, Estate Planning, IRA, payroll tax, planning

Staying Current is Especially Important in the Pandemic

December 2, 2020 by Larry Parman, Attorney at Law

A Health Care Power of Attorney appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. During the COVID-19 pandemic, it’s important to have them up-to-date. by Steve Hartnett In the United States alone, the pandemic has infected nearly 7 million people and has killed nearly 200,000 of them. In today’s pandemic, it’s more important than ever to make sure your estate planning … [Read more...] about Staying Current is Especially Important in the Pandemic

Filed Under: Estate Planning, Legal Education Tagged With: Advance Directive, Covid-19, Estate Planning, Health Care Power of Attorney

Pour Thanksgiving Gratitude Into Your Legacy Plan

November 26, 2020 by Larry Parman, Attorney at Law

estate planning

Holidays trigger many different emotions, and Thanksgiving is a time for gratitude. You have received gifts of various kinds throughout your life, and in a real sense, you pay your gratitude forward when you plan your estate. This is something to think about if you don’t have a plan.  If you are unprepared, you are not alone. Caring.com conducts annual surveys that focus on the estate planning preparedness of American adults, and the results are not encouraging. In 2017, 42 percent of … [Read more...] about Pour Thanksgiving Gratitude Into Your Legacy Plan

Filed Under: Estate Planning Tagged With: Estate Planning, Incapacity Planning, trusts, Wills

Generational Wealth is Key to Leveling the Playing Field

November 25, 2020 by Courtesy of Parman and Easterday

Generational wealth is wealth earned by one generation and passed on to the next. Generational wealth is key to allowing the next generation to be free from the burden of having to live hand-to-mouth and allows them to pursue an education and build a career or business to build a better life for themselves. by Steve Hartnett Even a little bit of a headstart can be extremely helpful in life. Those who start with little economic wealth, including many minorities and recent immigrants, face … [Read more...] about Generational Wealth is Key to Leveling the Playing Field

Filed Under: Estate Planning, Legal Education Tagged With: Estate Planning, generational wealth, minorities

Chadwick Boseman Demonstrates the Importance of Planning

November 10, 2020 by Courtesy of Parman and Easterday

by Steve Hartnett Chadwick Boseman played many heroic American roles and the superhero role of the Black Panther. His death at age 43 demonstrated how it’s important to have at least a basic estate plan in place even if you’re young. The star of multiple films, including the blockbuster superhero film “Black Panther,” died on August 28 of colon cancer. “Black Panther” by Marvel was nominated for 6 Academy Awards, including Best Picture. The film grossed over $1.3 billion … [Read more...] about Chadwick Boseman Demonstrates the Importance of Planning

Filed Under: Estate Planning, Legal Education Tagged With: basic, Black Panther, Chadwick Boseman, Estate Planning

Staying Current is Especially Important in the Pandemic

October 28, 2020 by Courtesy of Parman and Easterday

The President’s bout with COVID-19 demonstrates the importance of keeping planning current. A Health Care Power of Attorney appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. by Steve Hartnett President Trump and First Lady Melania Trump announced they tested positive for COVID-19. Around the same time, numerous others at the White House also tested positive. In the United … [Read more...] about Staying Current is Especially Important in the Pandemic

Filed Under: Estate Planning, Legal Education Tagged With: Advance Directive, Covid-19, Estate Planning, Health Care Power of Attorney, President Trump

Use the Exclusion or Lose It

October 21, 2020 by Larry Parman, Attorney at Law

Currently, each person can give $11.58 million during life or at death. However, that amount will be cut in half by January 1, 2026. It may go down even sooner. Read on to learn why and how you should use it before you lose it. by Steve Hartnett In 2020, each person can give away $11.58 million during life. Whatever portion they haven’t used during life, they can use it at death. However, that generous exclusion will be cut in half at the end of 2025. Beginning in 2026, the … [Read more...] about Use the Exclusion or Lose It

Filed Under: Estate Planning, Legal Education Tagged With: clawback, Estate Planning, exclusion, SAFE trust

Will Your Estate Plan Still Work If You Move?

October 14, 2020 by Courtesy of Parman and Easterday

Before the pandemic, Americans were more mobile than ever. When you move, you have to change your address, your voter registration, and all sorts of other things. But, do you need to revise your estate planning documents? Like with many things in law, it depends on your situation. by Steve Hartnett In the prior decade, millions of Americans moved each year. Here’s a link for more information on moving in America. Often, people wonder, “What happens to my estate plan if I move?” … [Read more...] about Will Your Estate Plan Still Work If You Move?

Filed Under: Estate Planning, Legal Education, Uncategorized Tagged With: community property, differences, Estate Planning, moving, revocable trust

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