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Home / Archives for Legal Education

Beneficiary Designations and the SECURE Act: Prior Designations

April 16, 2021 by Michael J. O’Brien, Estate Planning Attorney

Beneficiary designations can be deceptively simple. But their simplicity is sort of like an iceberg. Danger lurks beneath those tranquil waters, both for the client and the attorney. Designations for IRAs and retirement plans can be particularly complicated, especially after the SECURE Act. This article examines how beneficiary designations done prior to the SECURE Act might not have the intended consequences today. Read on to learn more. … [Read more...] about Beneficiary Designations and the SECURE Act: Prior Designations

Filed Under: Estate Planning, Legal Education Tagged With: IRAs, beneficiary designations, retirement plans, SECURE act

Beneficiary Designations and the SECURE Act Basics

April 9, 2021 by Michael J. O’Brien, Estate Planning Attorney

Beneficiary designations can be deceptively simple. But their simplicity is sort of like an iceberg. Danger lurks beneath those tranquil waters, both for the client and the attorney. Designations for IRAs and retirement plans can be particularly complicated, especially after the SECURE Act. This article focuses on the basics of the SECURE Act. Read on to learn more. … [Read more...] about Beneficiary Designations and the SECURE Act Basics

Filed Under: Estate Planning, Legal Education Tagged With: IRAs, beneficiary designations, retirement plans, SECURE act

Beneficiary Designations and the SECURE Act: Eligible Designated Beneficiaries

April 2, 2021 by Michael J. O’Brien, Estate Planning Attorney

Beneficiary designations can be deceptively simple. But their simplicity is sort of like an iceberg. Danger lurks beneath those tranquil waters, both for the client and the attorney. Designations for IRAs and retirement plans can be particularly complicated, especially after the SECURE Act. This article focuses on beneficiaries who don’t fall under the standard 10-year payout of the SECURE Act. Read on to learn more. … [Read more...] about Beneficiary Designations and the SECURE Act: Eligible Designated Beneficiaries

Filed Under: Estate Planning, Legal Education Tagged With: IRAs, beneficiary designations, retirement plans, SECURE act

Joint Tenancy Problems in Estate Planning

March 26, 2021 by Michael J. O’Brien, Estate Planning Attorney

Sometimes people use Joint Tenancy as an easy, simple way to do Estate Planning. However, this can have serious, unexpected drawbacks. Read on to learn more. … [Read more...] about Joint Tenancy Problems in Estate Planning

Filed Under: Estate Planning, Legal Education Tagged With: Estate Planning, joint tneancy

Updating Your Plan: Your Trust or Will

February 3, 2021 by Michael O'Brien

trust

As we approach the end of the year, it’s a good time to think about updating your plan. This includes your entire plan, including your primary vehicle, such as a trust or will. Read on to learn more. … [Read more...] about Updating Your Plan: Your Trust or Will

Filed Under: Legal Education, Estate Planning

Biden Administration Could Reduce Estate Tax Exclusion

February 1, 2021 by Michael J. O’Brien, Estate Planning Attorney

Runoff Elections in Georgia resulted in a Senate controlled by Democrats. Could this impact your Estate Planning? It’s possible. Read on to learn more. … [Read more...] about Biden Administration Could Reduce Estate Tax Exclusion

Filed Under: Estate Planning, Legal Education Tagged With: Estate Planning, applicable exclusion

It’s Better to Give, Especially This Year

January 27, 2021 by Michael O'Brien

public charity

Normally, you must itemize your deductions in order to benefit from them. In 2020, the standard deduction amount is $12,400 for individuals and $24,800 for married couples filing jointly. But this year, you can get a charitable deduction even if you don’t itemize. Read on to learn more. … [Read more...] about It’s Better to Give, Especially This Year

Filed Under: Legal Education, Estate Planning

Updating Your Plan: Powers of Attorney

January 20, 2021 by Michael O'Brien

estate planning

As we approach the end of the year, it’s a good time to think about updating your plan. This includes your entire plan, including Powers of Attorney. Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. It’s important to consider whether you need to update either of these powers. Read on to learn more. … [Read more...] about Updating Your Plan: Powers of Attorney

Filed Under: Legal Education, Estate Planning

Estate Planning: It’s Not Just About the Estate Taxes

January 13, 2021 by Michael J. O’Brien, Estate Planning Attorney

The recent tax law temporarily doubled the estate tax exemption. That doesn’t mean there’s no need for estate planning. Estate plans consider many important aspects, not just estate taxes. This article examines some of the many considerations besides estate taxes. Estate Planning: It’s Not Just About the Estate Taxes … [Read more...] about Estate Planning: It’s Not Just About the Estate Taxes

Filed Under: Estate Planning, Legal Education Tagged With: Estate Planning, Estate Tax, trust, income tax, beneficiary, beneficiary designation

Tax Planning for 2021

January 13, 2021 by Michael O'Brien

tax planning

Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2021 is just starting, it’s not too early to think about planning for whatever it may bring your way. … [Read more...] about Tax Planning for 2021

Filed Under: Legal Education, Estate Planning

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Michael and his team work very closely with you to help build a strategy for you regarding estate planning. They do not overdo it. They work hard to be certain their suggestions/recommendations fit your needs. Michael asks great questions, listens well and delivers on his commitments. I was very appreciative and hugely satisfied.

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