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BUSINESS, ESTATE PLANNING, ASSET PROTECTION

Practice Areas

Our law practice is focused on business law, business planning, estate planning, and asset protection
for both personal and business assets. These areas cover a broad range of planning and legal services
that help alleviate some of the issues that keep individuals and business owners up at night.

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ESTATES AND BUSINESS BLOG

Latest Updates

OCTOBER 13, 2019

Is now the time to remodel your old trust?

There are several reasons why you should update your existing trust or perhaps your entire estate plan.
While estate planning documents do not necessarily have a shelf life, they may not fulfill your goals
when your circumstances change. Of course, having estate planning documents that are up-to-date is
critical, but how do you know when you should make changes?

It is important to note that just because you have a trust in place does not mean you are bound to keep
it as is; this is even true if the trust was inherited from someone else. Indeed, there is more than one
way to make necessary changes: sometimes you can establish a new trust or simply revise the terms of
an existing trust. Finally, making changes to an existing trust – and other estate planning documents –
can help you save money and costs, and it may allow you to make better investments decisions.

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OCTOBER 6, 2019
Wills, Trusts & Dying Intestate: How They Differ

Most people understand that having some sort of an Estate Plan is a good thing. However, many of us
don’t take the steps to have an estate plan prepared because we don’t understand the nuances
between wills and trusts – and dying without either.

Here’s what will generally happen if you die, intestate (without a will or trust), with a will, and with a
trust. For this example, we’re assuming you have children, but no spouse:

1. Intestate. If you should die intestate, your estate will go through probate and all the world will know
what you owned, what you owed, and who got what. Your mortgage company, car loan company, and
credit card companies will all seek payment on balances you owed at the time of your death.

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SEPTEMBER 29, 2019

The Silent Threat to Your Estate Plan

It is common knowledge that everyone needs to have an estate plan in place. Commonly, the focus is
on assets, taxes, and any changes to legislation that may affect the security of your loved ones in the
event of your incapacity or death. What many often forget, however, is that changes in family dynamics
and circumstances can threaten even the most well thought out estate plan. This silent threat can
easily keep your estate plan from actually working when it is truly needed. Below are several situations
where updating an existing estate plan or creating a plan for the first time is necessary to protect your
loved ones.

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SEPTEMBER 22, 2019

Giving Thanks With Your Estate Plan

Estate planning covers more than just financial matters. Indeed, many use their estate plan to pass
along their values as well as their wealth. One way to do this is to give thanks with your estate plan, by
designating charitable giving or specific gifts that will help ensure your legacy. It is important, however,
to balance your income and the needs of your beneficiaries with the available tax incentives.

While the general purpose of estate planning is to ensure you and your family are taken care of when
most needed, you do not need to contain your estate planning to financial issues. Indeed, many
individuals use estate planning to pass along family history and traditions through their giving. An estate
plan may specify how a beneficiary can use their inheritance such as for studying abroad, embarking on
a particular trip, or other values that are important to the giver. In addition, you can choose to give to a
qualified charitable organization in your will so that the gift is distributed upon your death or
incapacity. Giving to charity during your life or after you have gone can help significantly reduce federal
estate and gift taxes and allows you to support charitable causes that are meaningful to you.

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SEPTEMBER 15, 2019
Murphy’s Law and Estate Planning

As the old adage goes “anything that can go wrong, will go wrong.” Referred to as Murphy’s law, this
well-known saying has no mercy. Sadly, estate planning is no exception to its wrath. There is hope!
Below are five-estate planning mistakes and how to fix them:

Incorrect guardian for your children: A will is a way for you to control what happens to your estate and
your minor or disabled children from the grave. If you fail to put together a will, the state will decide
who cares for them at a court hearing. If you do have a will, be sure to review it regularly and confirm
your original guardian is still a great choice for your children. If he or she is not, then amend your will
and choose another guardian. Because all family law judges are required to make decisions in the “best
interest of the child”, it’s a good idea to write a letter of explanation to help the judge understand the
decision you’ve made.

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SEPTEMBER 8, 2019
Your Fall “Legal Affairs” Checklist

There are several reasons to review and update your legal matters, including your estate plan.
Understanding how your wishes are affected by applicable law will help make you make a more
informed decision and protect you and your loved ones. Below is a checklist to ensure your planning
meets your needs and is up-to-date:

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Copyright © 2017-2019 Tawnya Gilreath All Rights Reserved. Disclaimer

The information and materials on this website (i) are general in nature, (ii) are provided for general informational purposes only, (iii) are not
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