The Latest on Kirk Douglas’ Estate

March 9, 2020
Bill O’Leary, Esq.
Advanced Directives, Asset Protection, Business Planning, Elder Law, Estate Planning, Long-Term Care Planning, Probate and Estate/Trust Administration

Old Hollywood didn’t pay stars well by modern standards, but Kirk had the wisdom to own his most iconic films and pour the profit into property. Soon philanthropy will force tough choices. The death of any giant produces shockwaves. Where Kirk Douglas is concerned, those ripples reveal how much the entertainment landscape changed in his lifetime and how much the numbers have grown.

What Exactly Is the Estate Tax?

March 3, 2020
Bill O’Leary, Esq.
Estate Planning, Probate and Estate/Trust Administration

The estate tax in the United States is a tax on your right to transfer property to other individuals upon your death, according to the IRS. In other words, when you die, the U.S. government might be entitled to a portion of your assets before the remainder can be passed to your heirs. Not all inherited assets are subject to the estate tax. In fact, the U.S. estate tax only affects the wealthiest households.

How Does a Bull Market Affect My Estate Plan?

2019 was a wild year in the market, but in the end the Dow ended up 23 percent year over year. The S&P 500 went up 29 percent over the year, and the Nasdaq climbed 36 percent. In fact, the market is up about 60 percent since Donald Trump was elected President of the United States. Those are some pretty impressive gains.

When Do I Need an Elder Law Attorney?

February 14, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Law, Estate Planning, Guardianship, Long-Term Care Planning, Power of Attorney, Probate and Estate/Trust Administration

Elder law issues can be complex. One wrong word or move can mean the difference between a good result and disaster should you become incapacitated or if other unexpected issues should occur in your senior years. An elder law attorney can help you plan for what will happen, if you should become mentally or physically incapable of taking care of yourself and your own personal business matters.

Life Insurance Is a Good Estate Planning Tool but Needs to Be Done Carefully

January 24, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Law, Estate Planning, Life Insurance, Long-Term Care Planning

Life insurance may play a vital role in an estate plan, because insurance proceeds can be counted on to provide liquidity when it’s needed.

Estate Tax

The Latest on Kirk Douglas’ Estate

What Exactly Is the Estate Tax?

How Does a Bull Market Affect My Estate Plan?

When Do I Need an Elder Law Attorney?

Life Insurance Is a Good Estate Planning Tool but Needs to Be Done Carefully

What Does an Estate Planning Attorney Really Do?

Will We Have to Pay Gift Taxes if We Give Property to a Child?

Why Should I Pair my Business Succession and Estate Planning?

How Does the IRS Know if I Make Gifts To My Grandchildren?