Author Archives: Parks & Jones

The Internet is changing how people mourn. Is it possible that in the future we will be able to plan our own digital funerals? If you are a frequent user of Facebook or Twitter, then you have undoubtedly noticed that whenever a well-liked celebrity passes away the social media sites are flooded with an outpouring […]

When someone passes away the money that he or she has invested in Social Security is not necessarily wasted. Dependents might be able to claim it through survivor's benefits. Social Security is essentially a forced retirement plan. We put money into the program and receive it back when we retire in the form of monthly […]

It is no secret that many millennials are beginning their careers with large amounts of debt. Many of them are making the mistake of waiting to save for retirement until their debts are paid off. Before they even start their professional lives many in the millennial generation are saddled with student loan and credit card […]

The number of Americans living to see their 100th birthday is on the rise. It is not easy to pay for that many years of retirement.  According to the Center for Disease Control and Prevention, the number of Americans who lived to be 100 years old increased by 44% between 2000 and 2014. Nevertheless, the […]

When you don’t know where else to turn, look to the facts. Cold, hard, unflinching facts and statistics. As long as you understand the details behind the statistics and agree with the methods used, they can give you great insight into a situation. So today, we’re delving into some estate planning statistics that reveal how Americans […]

If your spouse passed away in the last three years, the IRS is offering a potential estate tax break for your estate. However, you need to act quickly if you want to take advantage of it. One of the newer and better provisions in tax law is that you can take advantage of any portion […]

Probate: it’s costly, lengthy, taxing, and, thankfully, avoidable. Although no one likes to think about their death, it’s important that you consider what will someday happen to your assets before that fateful day occurs. The probate procedure, in which debts are paid, paperwork is filed, and assets are distributed to beneficiaries, is an important part of […]

Are you old or young? Wealthy or poor? Do you know what? It doesn’t matter! Everyone, no matter what their age or financial status, needs a will. And yet despite this fact, more than half of Americans don’t have a will at all. If you’re one of those people who have neglected to create a will, […]

When a Grantor passes away, the Trustee of the estate must step into action. There are numerous tasks to complete, including collecting assets, paying taxes and bills, filing accountings, managing money for beneficiaries, and more. One of the very first things the Trustee must do is notify the beneficiaries, describing the situation (the Grantor’s death, the state […]

Typically, when you sell business or investment real property, you’re required to pay capital gains tax on the sale. Taxes are a fact of life, but wouldn’t you prefer to defer paying your taxes if you could? 1031 exchanges allow you to do just that. So what is a 1031 exchange? Also known as a tax-deferred […]