Estate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your death. One commonly known purpose of estate planning is to minimize taxes and costs, including taxes imposed on gifts, estates, generation skipping transfer and probate court costs. However, your plan must […]
Today we are sharing a post from The Voice, the email newsletter of The Special Needs Alliance. This installment was written by Special Needs Alliance member, Lee M. Holmes, of Holmes, Holmes and Neisent, PLLC in Oklahoma City, Oklahoma. The law firm’s practice focuses on planning for persons with disabilities, estate planning, Medicaid and elder […]
Leaving your hard-earned assets outright to your children, grandchildren, or other beneficiaries after you die may seem like the easiest and most desired form of distribution. Unfortunately such a scheme will make their inheritance easy prey for creditors, predators, and divorcing spouses. Instead, consider using discretionary trusts for the benefit of each of your beneficiaries. […]
It is common knowledge that everyone needs to have an estate plan in place. Usually, the focus is on assets, taxes, and any changes to legislation that may affect the security of your loved ones in the event of your incapacity or death. What many often forget, however, is that changes in family dynamics and […]
