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Author Archives: Site Administrator

trusts

Decanting: How to Fix a Trust That Isn’t Getting Better With Age

By Site Administrator |

While many wines get better with age, the same cannot be said for some irrevocable trusts. Maybe you’re the beneficiary of trust created by your great grandfather over seventy years ago and that trust no longer makes sense. Or, maybe you created an irrevocable trust over twenty years ago and it no longer makes… Read More »

taxes

Listen Up: These States Will Usher in Changes to Their Death Taxes in 2016

By Site Administrator |

In 2015, there are still 20 U.S. jurisdictions that collect a death tax at the state level: Connecticut, Delaware, District of Columbia, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Nebraska, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Tennessee, Vermont, and Washington. Even if you don’t live in one of these states, the… Read More »

estate planning

Wills, Trusts & Dying Intestate: How They Differ

By Site Administrator |

Most people understand that having some sort of an estate plan is, as Martha Stewart would say, a “good thing.” However, many of us don’t take the steps to get that estate plan in place because we don’t understand the nuances between wills and trusts – and dying without either. Here’s what will generally… Read More »

trusts

Wills vs. Trusts: A Quick & Simple Reference Guide

By Site Administrator |

Confused about the differences between wills and trusts? If so, you’re not alone. While it’s always wise to contact experts like us, it’s also important to understand the basics. Here’s a quick and simple reference guide: What Revocable Living Trusts Can Do – That Wills Can’t Avoid a conservatorship and guardianship. A revocable living… Read More »

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How to Avoid Sending Your Loved Ones (and Assets) through Probate

By Site Administrator |

Today many people are using a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a living trust will avoid the public, costly and time-consuming court processes of conservatorship or guardianship (due to incapacity) or probate (after death). Still, many people make a… Read More »

estate planning

Estate Planning: 3 Reasons We Run the Other Way

By Site Administrator |

We understand that it feels hard to get around to estate planning; it sounds about as fun as getting a root canal. However, we also understand that we all want to make sure that our loved ones are protected and receive our hard-earned assets – regardless of whether we have $10 million or $10,000…. Read More »

types of trusts

10 Types of Trusts: A Quick Look

By Site Administrator |

Considering the myriad of trusts available, creating an estate plan that works can seem daunting. However, that is what McDonald Law Firm do every day. We know the laws and will design a plan that addresses your specific situation. Here’s a look at the basics of ten common trusts to provide a general understanding…. Read More »

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