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Legacy Legal Center
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Appellate Case Centers on Impact of Mediated Family Settlement Agreement on Probate Claims Can you challenge acts that occur before a legal agreement is signed into effect? In this Texas case, a family came to terms with an estate through a mediated agreement and released each other from claims. However,... Continue reading
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How a Trust Works as Part of Your Estate Plan It’s clear that everyone needs to have a will, but the increasing use of trusts in estate planning have many people wondering how trusts fit into an estate plan. If you learn anything about a celebrity’s wealth after they die,... Continue reading
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Are Proceeds from a Life Insurance Policy Taxable? There’s some confusion over when people must pay taxes on insurance policy proceeds and when they do not. Here’s a look at how it works, in different scenarios. Here’s a scenario to start with: a couple both have life insurance policies on... Continue reading
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Caring for Aging Family Members from Across the County Planning in advance, rather than waiting until an emergency occurs, is the wisest way to go, when it comes to taking care of elderly parents, if they live far from you. We are less likely to live around the corner from... Continue reading
Posted Apr 17, 2018 at Oklahoma City Estate & Tax Planning
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Why You Need to Review Your Estate Plan This Year Even if the Trump tax law had not passed, other factors make it wise for estate plans to be reviewed this year. Putting it off, may become costly for you and your heirs. Unless you are in the minority of... Continue reading
Posted Apr 16, 2018 at Oklahoma City Estate & Tax Planning
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Why You Need to Review Your Estate Plan This Year Even if the Trump tax law had not passed, other factors make it wise for estate plans to be reviewed this year. Putting it off, may become costly for you and your heirs. Unless you are in the minority of... Continue reading
Posted Apr 16, 2018 at Oklahoma City Estate & Tax Planning
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Power of Attorney Statute Comes Under Scrutiny in Virginia Supreme Court Matter A surprising conclusion at the end of this estate battle is in that in this case, the attorney-in-fact is not liable for the misuse of his or her property by a third party. Neither is the attorney-in-fact responsible... Continue reading
Posted Apr 3, 2018 at Oklahoma City Estate & Tax Planning
Grandson Wins Battle for Manson Remains Some estate battles are gruesome, and this one falls into that category. Three people were battling over the legal right to dispose of the cult leader’s remains, but a court ruling has settled the issue. Jason Freeman, whose grandmother was Manson's first wife, making... Continue reading
Posted Apr 2, 2018 at Oklahoma City Estate & Tax Planning
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Are You Sure You’re Not Single? “Single retirees may feel left out of the Social Security conversation, since it fixates on how married couples can make the most of their benefits. However, it’s a mistake to assume that there are no claiming strategies to maximize benefits for solo retirees. The... Continue reading
Posted Mar 30, 2018 at Oklahoma City Estate & Tax Planning
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Naming Beneficiaries: The Right Way and the Wrong Way If something happened to you tomorrow, do you know for a fact that your beneficiary designations are correct? Or will your ex-spouse get an unexpected windfall? Your will may be updated, but if you haven’t looked at your beneficiary designations on... Continue reading
Posted Mar 29, 2018 at Oklahoma City Estate & Tax Planning
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What Kind of IRA Can a Self-Employed Person Use? There are many options for business owners, some of which allow for more savings than a traditional IRA. If you are self-employed or own a business where your only employee is yourself or a spouse, you can use “solo 401(k) and... Continue reading
Posted Mar 28, 2018 at Oklahoma City Estate & Tax Planning
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New Program to Respond to Elder Abuse in San Diego County How a society treats its most vulnerable, including seniors and dependent adults, is emblematic of what it values and respects. Best practices and a partnership with law enforcement, including prosecutors, is part of a new program launched in San... Continue reading
Posted Mar 27, 2018 at Oklahoma City Estate & Tax Planning
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Planning a Quick Sale of Your Business? Not So Fast! Small business owners often do not understand that selling their business takes a lot of planning. There may be bumps along the way. It’s hard for small business owners to objectively assign a value to their business, as examined in... Continue reading
Posted Mar 26, 2018 at Oklahoma City Estate & Tax Planning
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Surprise –You’re Running a Small Nursing Home in Your Own Home! Have your parents ever made a remark that they took care of you and expect you to return the favor as they get older? If so, you’ll want to have a more in-depth conversation. It’s one thing for parents... Continue reading
Posted Mar 23, 2018 at Oklahoma City Estate & Tax Planning
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What Business Owners Can Accomplish with the Right Estate Plan Business owners know that they should have an estate plan in place, but not all of them will take the necessary steps. Many find it challenging to imagine that the business will continue after they are gone, but with the... Continue reading
Posted Mar 22, 2018 at Oklahoma City Estate & Tax Planning
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Elder Fraud Gets a National Platform from Attorney General Sessions The largest elder care enforcement action in the country’s history has been unveiled, with more than 200 charged with defrauding seniors. Financial elder abuse has taken center stage, with the Attorney General and other authorities stepping up to taking a... Continue reading
Posted Mar 21, 2018 at Oklahoma City Estate & Tax Planning
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Power of Appointment is Key Issue in Rhode Island Supreme Court Case A will must be very clear in spelling out what the individual wishes to happen, so that if there is an estate battle, the decedent’s wishes can be easily understood in plain English. The role of the court... Continue reading
Posted Mar 20, 2018 at Oklahoma City Estate & Tax Planning
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Can You Protect a Beneficiary from a Judgment or Lien? Inheritances are not always straightforward. This is especially the case, when the beneficiary is encumbered by financial problems. A parent who wants to leave children a home or the proceeds from the sale of the home, needs to think long... Continue reading
Posted Mar 19, 2018 at Oklahoma City Estate & Tax Planning
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New Rules in Place from Financial Watchdog to Protect Seniors Two new rules have been put into place to combat the financial abuse and fraud against the elderly and others that has become so pervasive. As it continues its efforts to protect Americans from financial abuse, FINRA (Financial Industry Regulatory... Continue reading
Posted Mar 15, 2018 at Oklahoma City Estate & Tax Planning
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Plan on Globe-Trotting During Retirement? Check Your Numbers Again It’s a popular vision for retirement—all the time in the world, and the freedom to travel everywhere you’ve ever dreamed of. But don’t skip the reality check. Retirement is the time to travel, when you aren’t restricted by a one or... Continue reading
Posted Mar 14, 2018 at Oklahoma City Estate & Tax Planning
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Legislation that Would Protect Right to Visit Elderly Parents Championed by Celebrity Offspring The stories of being kept away from their parents during their final years or even final hours are heartbreaking. Three adult children with instantly recognizable last names–Kasem, Rooney and Campbell—are working to get laws passed to ensure... Continue reading
Posted Mar 13, 2018 at Oklahoma City Estate & Tax Planning
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Police Officer and Professional Guardian Arrested for Elder Abuse Following a joint investigation by Nevada’s attorney general and the Clark County district attorney, a guardian, a Las Vegas police lieutenant and two other people have been indicted on multiple charges, including elder abuse. While the headlines focus on the Las... Continue reading
Posted Mar 12, 2018 at Oklahoma City Estate & Tax Planning
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Coin Seller Allegedly Scams Elderly Woman out of $1.3 Million According to a Houston woman, she was tricked into spending a fortune on gold and silver coins that were priced way higher than their real market value and the seller did so by pretending to be a friend, taking advantage... Continue reading
Posted Mar 9, 2018 at Oklahoma City Estate & Tax Planning
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Everyone’s Favorite Topic: Funeral Planning Some people don’t care what happens after they die, but some people would rather their spouses not do anything too creative. You know who you are! If you disagree with your spouse about party planning, decorating or vacation decisions, you might want to take a... Continue reading
Posted Mar 9, 2018 at Oklahoma City Estate & Tax Planning
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There’s a Little Surprise in the New Tax Law: A Gift Tax Trap With the increases in the estate tax exclusion, far fewer Americans will need to pay the federal estate tax. However, there’s something else to be aware of. As of January 1, 2018, when the new tax law... Continue reading
Posted Mar 8, 2018 at Oklahoma City Estate & Tax Planning