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Paul O. Dillon Attorney at Law
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“One of the most important decisions you will ever make is choosing a fiduciary.” Continue reading
Posted Mar 20, 2022 at Paul O. Dillon, Attorney at Law
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“If you don’t have a spouse and children, you might not think you need to do any estate planning—but that’s not the case.” Continue reading
Posted Mar 20, 2022 at Paul O. Dillon, Attorney at Law
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“To be tax efficient, which types of assets should you live off of in retirement, and which should you plan on passing down? There’s a bit of art to the equation, and how you plan can make a big difference to your beneficiaries.” Continue reading
Posted Mar 20, 2022 at Paul O. Dillon, Attorney at Law
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“At some point in your life, you may find yourself an administrator, a beneficiary or a creditor of a probate estate. You may even want this information for planning your own estate.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“People tend to think of ‘529’ education-savings plans as an excellent way to save and invest tax-free for college or schooling costs, and they are.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“While discussing estate planning with my parents, they told me that an attorney prepared a deed for them but told them not to record it yet.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“Many people already had pets before COVID-19, but a recent University of Michigan National Poll on Healthy Aging found as many as 10% of those individuals between ages 50 to 80 acquired a new pet between March 2020 and January 2021.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“Right now, gifts to trusts can take advantage of high tax exemptions and remove future appreciation of assets from taxable estates. One example available to spouses is making a gift to a trust that allows for a qualified terminable interest property (QTIP) election.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“The documents may still be valid but if they are stale or outdated, you may spend significant money trying to use them down the road.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“The death of a loved one results in an emotional grief that, when combined with large sums of money on the line, can cause the beneficiaries of the will or trust or the heirs of the deceased to challenge the validity, interpretation, or administration of the will or trust.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“Over the years I get all kinds of questions from people. And boy, have I heard some doozies. But one common one I get is called the ‘lazy (or poor) man's (or woman's’) estate planning.’ This type of estate planning has some very negative tax consequences.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“Americans have been living through a ‘golden age’ of estate planning, but it’s coming to an end, says one consultant to ultra-high-net-worth families and family offices.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“Ensuring that your wishes on your medical care are followed, is up to you. Take action now while you’re well, or you could later lose a say in the matter during a crucial time.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“It’s always smart to maximize your Social Security benefits, and if you are divorced, one way to do that might be to take them based on your ex’s earnings record. Here are some of the rules on how that works.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“For most of us, the first time we ever thought about probating a will is when someone in our family has died. So, what does it mean to probate a will?” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“Expert tips on why starting your estate plan early, choosing beneficiaries, and thinking about how you want to transfer your wealth to the next generation are critical for your financial future.” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
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“I am one of three daughters who will inherit our home when our parents pass away. They have a mortgage on the home and some credit card debt. Would it be wise for us to purchase their home before their death, so their mortgage debt is paid off?” Continue reading
Posted Mar 19, 2022 at Paul O. Dillon, Attorney at Law
“Most people should have a will, but it's rarely the most significant estate planning document that an individual will hold.” Continue reading
Posted Jan 11, 2022 at Paul O. Dillon, Attorney at Law
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“A ruling that Michael Jackson’s image and likeness at the time of his death were worth about $157 million less than the IRS estimated warns the agency not to look too far down the road, when assessing the value of a celebrity’s estate.” Continue reading
Posted Jan 8, 2022 at Paul O. Dillon, Attorney at Law
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“Death, taxes and our fingers are a few things we can count on. As for the former, taxes will be owed, and death is certain.” Continue reading
Posted Jan 8, 2022 at Paul O. Dillon, Attorney at Law
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“Is it better to help your children when you’re still alive? Or wait until after you die?” Continue reading
Posted Jan 8, 2022 at Paul O. Dillon, Attorney at Law
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“These spousal trusts are garnering attention as estate and gift tax exemptions are poised for overhaul.” Continue reading
Posted Jan 8, 2022 at Paul O. Dillon, Attorney at Law
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“If the deceased has a will, it usually names a close relative, friend, accountant, attorney or financial institution to act as executor of the will.” Continue reading
Posted Jan 8, 2022 at Paul O. Dillon, Attorney at Law
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“Ensuring that your wishes on your medical care are followed is up to you. Take action now while you’re well, or you could lose a say in the matter during a crucial time later.” Continue reading
Posted Jan 8, 2022 at Paul O. Dillon, Attorney at Law
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“Although the Roth IRA is often touted for the unique combination of benefits it offers to retirement savers, some of its perks often go overlooked. Here are four that you should know about.” Continue reading
Posted Jan 8, 2022 at Paul O. Dillon, Attorney at Law