Myths about Trusts
Several myths surround trusts that discourage people from learning about them. Lets look at some of them. Trusts are for the very wealthy: Untrue: Trusts can be for anyone with assets or beneficiaries that need to be protected. There is no minimum estate value that is needed to create a Trust. Robert Massi, an […] ..
January 23, 2015
Ancillary Probates in Oklahoma The spouses children, heirs or legatees of an individual who dies owning property in several states may be faced with having to have probate actions in each of those states. A domiciliary probate (home state probate) is conducted in the state where the decedent resided at the time of death. Typically, […] ..
In-Case-of-Emergency Card, Don’t go to college without one!
Make sure to have Emergency Plans in Place. Heading off to college is an exciting time. If you are 18 there are laws that are designed to protect your privacy even from your parents. Most young adults value their privacy. However, one law called the Health Insurance Portability and Accountability Act or “HIPAA” may prevent […] ..
Banks are often the last line of defense to prevent scams. Inquire before you wire.
Education is not Discrimination, Banks should do more to Educate their Depositors about the various Scams Con-artists use various schemes to part bank customers with their money. These include: Lottery and Sweepstakes Scams Grandpa I’m in Jail Fraud Internet purchaser scam Secret shopper Scam Some confidence games trick individuals, often the elderly, to send money. […] ..
June 19, 2014
Powers of Attorney, Benefits and Dangers
Executing a Power of Attorney can solve or create problems. It is important to know how they work and how dangerous they can be. Most Estate Plans include a Power of Attorney. They can be very useful to avoid a court appointed guardianship. However, the person entrusted must be chosen carefully. A Power-of-Attorney grants […] ..
June 5, 2014
Avoid Lottery Scams, No matter how convincing
What would you do if you received an official looking that informed you that you won $8.75 million dollars? What if the letter had a copy of a cashier’s check written to you? Don’t be fooled. The lottery scam begins with a bold announcement. Victims are contacted by telephone, email or mail. (A sample of […] ..
Stretching your IRA to make it a a Lasting Legacy
This Article discusses the Stretch IRA Trust One of the goals of most Estate Plans is to maximize the value to those who inherit. IRAs provide one example why experienced advice is necessary. By following the IRS trust rules heirs can receive tremendous benefits from the tax deferred benefits of an IRA or 401k. A […] ..
Every Stakeholder’s Vision is Important in a Succession Plan
Understanding everyone’s vision is important for the development of a succession plan. In order for any enterprise to succeed all parties must be pulling in the same direction. Having an agenda for a succession plan is vital. However, clear and honest communication can identify problems as well as opportunities. Family members are often surprised at […] ..
May 15, 2014
What Every Creditor Should Know About Filing Proofs of Claim in Bankruptcy Court
Bankruptcy is a legal proceeding designed to relieve debtors with relief from their creditors. A debtor is required to list all his assets, income and creditors. Most bankruptcies involve cases under Chapter 7 or Chapter 13 of the Bankruptcy Code. Unless a proof of claim is timely and properly filed an unsecured creditor will likely […] ..
May 14, 2014
A Law Firm with a Home Enviornment
My office is a converted pre-statehood home. Clients feel at ease meeting and planning in our quiet and comfortable office. Most meetings occur in the dining room that has been converted into a conference room. This is conducive to meetings that often involve family issues and planning. The relaxed atmosphere cannot be found in busy […] ..
May 8, 2014
The Family Trust
A Powerful and Affordable Estate Planning Tool When most people think of Estate Planning they think of a Will. A key component in many Estate Plans is a Revocable Living Family Trust. A Trust is similar to Will because it designates who will receive property. However, unlike a Will it can designate when someone receives […] ..
April 14, 2014
Joint Tenancy as Estate Planning Tool? Better Think Twice.
Joint Tenancy is one of many ways two or more people can hold title to property. Most married couples hold title to their homes as Joint Tenants. It is one of the simplest ways to hold property. Here is how it works most of the time: John and Mary are a married couple and purchase […] ..