Tag Archives: Estate Planning

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 […]

A lot of care and consideration goes into the choosing of a beneficiary and the creation of an estate plan. Unfortunately though, things do not always work out as we’ve planned. So you might wonder, “What happens if my beneficiary dies before me?” Who will receive the assets I planned to give to my beneficiary? […]

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 […]

Thinking about worst case scenarios for your life isn’t a very enjoyable undertaking, and planning for those worst case scenarios is even harder. Suddenly, you’re seriously discussing what would happen if, for example, you died. What would happen to your dog, who you love, who depends on you? What would happen to all of your […]

In our last post, we talked about the IRD taxes that your beneficiaries will have to pay after they inherit your IRA. These taxes cannot be eliminated, but they can be reduced with the “stretch out” plan we recommended. Please read our previous blog post for more details, but basically, the plan works like this: […]

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 […]

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 […]