Although joint tenancy offers some short-term conveniences, in the long run it poses a host of problems that can cost you and your loved ones multiple times the expense and headaches that you thought you were avoiding. For the vast majority of American couples, “till death do us part” also means, … [Read more...] about Problems with Joint Tenancy
A Power of Attorney is a document in which the “Principal” gives powers, duties, and responsibilities to the “Agent” who acts for the Principal under certain circumstances. The Power may be over health matters (a Health Care Durable Power of Attorney – also known as a Health Care Proxy or Advance … [Read more...] about What is a Power of Attorney?
ESTATE PLANNING 101 – WILLS vs TRUSTS Your estate plan should accomplish some extremely important things, including protecting you, your assets, and your loved ones both now and in the future. Given everything your plan can, and should, do for you and your loved ones, you may not know where to … [Read more...] about Estate Planning 101 Wills vs Trusts
COVID-19, social distancing, and sheltering-in-place brought new changes to our perspectives and the need to re-evaluate current estate planning documents (or lack thereof). What many people don’t realize is that there are a couple of must haves for everyone, not just clients, with COVID-19 … [Read more...] about Estate Planning Must-Haves With COVID-19
Have you been putting off estate planning despite listening to friends and family harp about how important it is to have a plan in place? If so, you are hardly alone. About half of all Americans do not have an estate plan, even though most of them acknowledge the important nature of estate planning. … [Read more...] about 3 Reasons to Create an Estate Plan
Hopefully, you already understand the benefits you gain from having an estate plan in place, even if you have yet to create that plan. Now, however, it’s time to get started creating your plan. To help you feel better prepared, the estate planning attorneys at Morris Hall PLLC offers some estate … [Read more...] about Estate Planning for the Beginner
There are so many things in life that we plan for: vacation, retirement, grocery shopping. . . . So why do we do it? Planning gives us a level of assurance that what will happen is in our control, more or less. We plan a vacation so we can get the most out of it. We can see the sights. We can … [Read more...] about Why Plan?
We live in uncertain times. There is no certainty in what President Elect Trump will do when it comes to the tax code, but he has stated that he would like do the following: Eliminate the estate tax entirely. Eliminate the gift tax entirely. Presumably, eliminate the Generation Skipping … [Read more...] about Summary of Potential Tax Law Changes Under President Elect Trump:
Planning is “the act or process of making a plan to achieve or do something,” Merriam-Webster. We plan ahead of time. Planning for something after it occurred does not make sense. A plan is used to mitigate risks and enhance the possibility of success in a set of goals or objectives. When estate … [Read more...] about When Should you Plan?
When putting your estate plan in place, one of the most critical decisions is naming the person or entity that will make your decisions when you can’t. Collectively, this role is a fiduciary. The fiduciary is a person or entity who has a legal obligation to make decisions in your best interest. … [Read more...] about Selecting your Fiduciary