Author Archives: Parks & Jones

If you’re reading this article, I think it’s safe to assume that you either (1) have an estate plan already or (2) are aiming to create one soon. So first of all, good work! You’re ahead of the pack and years from now, you’ll be so glad  you took the time to prepare for your […]

Just a few months ago, in June 2014, the Supreme Court ruled inherited Individual Retirement Accounts (IRAs) are not protected from the beneficiary’s creditors, because there are key differences between an inherited IRA and an IRA that you set up and fund yourself. The verdict of Clark v. Rameker will dramatically affect the way many […]

When was your financial power of attorney last updated? As with all aspects of your estate plan, it’s important you keep track of your financial power of attorney and update it regularly so that it remains current, in tune with your desires for your future. Don’t push back this chore—it could have a far greater […]

Whether you are old or young, rich or poor, a parent or a businessperson (or both!), you should create an estate plan. Estate planning is valuable no matter who you are, so don’t use your age or the size of your bank account as an excuse. Just think of all the important decisions your estate […]

Tax season is over, but there is no time like the present to begin considering a tax plan for your future. Tax Savings In a Retirement Plan Trust Over the past several years, our firm has done extensive research to discover the best ways to help our clients eliminate or minimize tax savings for beneficiaries […]

We live in a large, great country with fifty diverse states. You might grow up in one state, call another state home, and open your LLC in yet another state. Many people assume they must open their limited liability company (LLC) in their home state, and this misunderstanding causes them to miss out on benefits […]

As you prepare your estate plan, you might consider leaving a portion of your savings to a beloved charity (or two, or three . . . ). Wherever your heart lies—animal rights, environmental preservation, educational outreach, medical research and services, the reduction of poverty, etc.—you are sure to find a deserving and honorable charity. So […]

It’s not enough to simply have a will. If you want to ensure your assets are distributed in the way you’ve planned after your death, you must learn how to title your assets properly. Too many people forget to title their assets, forget to update them, or simply assume their family and friends will bestow […]

Are you and your spouse holding real estate in a trust as a married couple? Or you are planning to, someday in the future? There are different ways to go about this, so today we’re going to talk about the method we use here at Parks & Jones and the benefits of our method. This […]