Articles

tax deductible

How Much Authority Does a Trustee Have Over the Stuff in My Trust?

A trustee is a person or entity responsible for and with the authority for managing and administering your trust according to your instructions and in accordance with state law. They are considered a fiduciary (meaning they are held to a higher stand… Read More
Categories: Trusts
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Blindsided: The Michael Oher Conservatorship Controversy Explained

We are in the home stretch of the NFL season, and things are as exciting as ever. Aside from which team has a stellar rookie quarterback (Go, Texans!), or which team is on fire on the road (Go, Jags! (Keep in mind that McCreary Law Office started in… Read More
Categories: Guardianship
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Will the Corporate Transparency Act Apply to You?

Starting on January 1, 2024, under a new law called the Corporate Transparency Act (CTA), owners of certain business entities must file a report with the federal government including details regarding the ownership of their entity. The CTA was enacte… Read More
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Estate Plan Lessons from DeMuth v. Commissioner: Lifetime Gifts and Taxes

Lifetime gifts are a popular way to reduce estate and inheritance taxes. Currently, only estates worth $12.92 million or more are subject to the federal estate tax. Twelve states and the District of Columbia levy an additional estate or inheritance t… Read More
Categories: Estate Planning
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What Do I Do If I Want to Undo My Revoked Will?

When life circumstances change, you may alter the decisions you have made in your estate planning documents. You might choose to revoke your will at some point. But what if you have a change of heart and want to reinstate it? There are different ways… Read More
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What Happens to My Leased Car If I Die Before the Lease Term Ends?

After a house, a car is often the second-most valuable piece of property a person owns. And although the number has been falling, about 15–20 percent of new vehicles are leased rather than purchased and financed. Leasing is a popular alternative to… Read More
Categories: Estate Planning, Probate
Estate Planning Word Cloud

How Far in Advance Can I Begin My Estate Planning?

You can create your estate plan at any time, but many people choose to begin the process of estate planning sooner rather than later. Why? Because you never know when life-changing medical or financial emergencies can strike that will require someone… Read More
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Sometimes Stuff Is the Most Important Part of Your Estate Plan

Most people usually think about who will receive their retirement and bank accounts, life insurance proceeds, real estate, and other valuable possessions upon their death. However, a person’s personal property (their stuff) can also be a source of… Read More
Illustration of a probate judge standing at podium in front of flags

When Families are Estranged: What is the Impact on Estate Planning?

Unfortunately, rifts sometimes arise between family members that are much more serious than just temporary squabbles. The result may be estrangement, defined as “the state of being alienated or separated in feeling or affection; a state of hostilit… Read More
Categories: Estate Planning, Wills
Two women sitting next to each other hugging while one holds up the keys to their new house.

Beware of Unequal Contributions When Buying a Home

At a time of record home unaffordability, more people are teaming up with friends and relatives to realize the home ownership dream of buying a home. According to the National Association of Realtors (NAR), more than 75 percent of homes on the market… Read More