When your beneficiary inherits your tax-deferred retirement plan (whether it’s a 401(k), IRA, 403(b), or SEP) after you pass away, they are required to pay taxes on all the money they receive. These taxes, which could include Income Taxes, Estate Taxes, and IRD Taxes (Income in Respect of a Decedent Taxes), can cost the beneficiary […]

Do you own guns? Whether you have one, two, or a whole collection, it is important that you learn about gun transfer after death. If the gun (or guns) is not transferred properly, your beneficiaries could end up facing state and/or federal prosecution. Assuming you don’t want to leave your loved ones with a burden […]

Eventually every Estate Plan requires administration. What is administration in the context of an estate plan? To put it simply, it is the process that occurs after someone has passed. Many people neglect to prepare for their estate planning administration, making it difficult for their attorneys to take control of the situation. We do our […]

Everyone has an email account, probably a Facebook account, online bill pay and bank accounts, and other online personalities. What happens to those accounts when you become incapacitated, or when you die? Recently, a good friend of mine passed away in Colorado and now a year later I can still see his Facebook page online. […]

Have you ever wondered what happens to your Internet accounts when you die (or become disabled)? Assuming you’ve been very prudent and private with your passwords, no one will be able to login to your online accounts. Your e-mail, social media, e-commerce sites, and all other online accounts protected by an encrypted password will be […]

Did you know that the average cost of one year in a nursing home is $83,000? That’s nearly $7,000 a month! Paying for a nursing home can be very difficult, especially if your long-term care insurance is cost-prohibitive or if you are uninsurable. However, by working with an attorney experienced in elder law, you can […]

It’s an exciting time for our office.  As you know, Cameron G. Jones started working with us in 2010, and now nearly 3 years later he is getting his name on the door!  After 20 years of “R. Clancy Parks, Attorney at Law”, our firm name is now officially, “Parks & Jones, Attorneys at Law”.  […]