There are two significant ways filing for bankruptcy may impact your estate plan. The first is if you file for bankruptcy, then die while your case is pending. The second is when someone you have named as a beneficiary files for bankruptcy shortly before your death. In this blog post, we...
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After three decades on the air, Maury Povich is retiring. Daytime television will never be the same with nobody regularly revealing “You are (or are not) the father!” However, the popularity of at-home DNA tests from companies like AncestryDNA and 23andMe means people are getting this same kind of...
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Actor Daniel Craig has some very specific plans for the fortune he has amassed playing James Bond. In an interview with Candis Magazine, he said that he finds large inheritances “distasteful,” and doesn’t want to leave a lot of money to his children.
“Isn’t there an old adage...
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There is a time for everything and a season for every activity under the heavens: a time to be born and a time to die, a time to plant and a time to uproot, a time to kill and a time to...
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If you are a long-time reader of this blog, you have probably noticed that we often emphasize gifting as a great way to avoid estate taxes. Federal law includes an annual gift tax exclusion, which allows an individual to pass up to $16,000 per person, to as many individuals as one would...
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Benjamin Franklin once quipped that “…in this world, nothing can be said to be certain, except death and taxes.” He was being witty, but his wisecrack contains some real wisdom. Paying taxes is an often unexpected part of managing a loved one’s...
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Americans are some of the most generous people in the world. According to the Philanthropy Roundtable, “Six out of ten U.S. households donate to charity in a given year, and the typical household’s annual gifts add up to between two and three thousand dollars. This is different from the patterns in...
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Many Brandon, Mississippi area business owners tell the Palmer & Slay team that succession planning isn’t something they can afford to worry about right now. We have talked to lots of small business owners who are so busy building their businesses they don't feel like they can take time out to think...
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When you walk out of Palmer & Slay’s Brandon, MS office after executing your estate plan, you will be carrying a relatively thick stack of papers with you. Our typical clients take home the original signed version of their will, power of attorney documents, and trust documents, as well as copies...
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2021 is a year that many of us will be happy to put behind us, but there are a few things you should be sure to cross off your to-do list before turning the calendar to January. One of them is checking in with your estate planning attorney.
