About Richard Morgan

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So far Richard Morgan has created 40 blog entries.

Possibly The Best Way to Pass Assets On To Your Children or Other Loved Ones: GST Planning – Part Two

In our last newsletter, we introduced the concept of “GST planning,” which is, in essence, estate planning using the generation-skipping transfer (“GST”) tax exemption in conjunction with long-term trusts to provide great benefits for the intended beneficiaries of a gift or inheritance. Last month’s newsletter article discussed the GST planning option, along with its incredible potential benefits and flexibility. We focused on trying to explain what GST planning is and what it can offer. In this issue we’ve focused on things you should keep in mind and consider when you decide to include GST planning in your own estate plan. read more...

Fiduciary Selection: A Critical Part of Any Well-Prepared Estate Plan

by Richard M. Morgan & Loraine M. DiSalvo In the estate planning context, a “fiduciary” is someone who will serve in a role of authority with regard to you, your assets, or your minor children. Fiduciary roles which may be part of an estate plan can include an Executor, a Trustee, a Guardian and/or Conservator, [...]

The Benefits of Proper Estate Planning

To see what happens without proper estate planning, let us consider a common family situation. Assume that you own most or all of the significant family assets in your individual name and you die leaving a spouse and minor children. If you die in Georgia without a valid will, your probate estate assets will be [...]

Concern Over Spoiling Your Children

Virtually every parent at some point wrestles with the perceived trade off of passing the maximum amount of property to his or her children and spoiling the children. Many parents are concerned that giving too much wealth to their children might ruin their work ethic or cause other undesirable issues. To help reduce the potential [...]

Dispute Resolution Case Study

When Ronald Black was diagnosed with terminal cancer, he took the appropriate and responsible steps towards getting his affairs in order. The family printing business was put up for sale and Ronald started taking care of his personal business. He approached his attorney about creating an estate plan that would ensure the appropriate distribution of [...]

2016-12-22T06:24:02-04:00May 5th, 2011|Case Studies, Estate and Trust Disputes|

The Importance of Estate Planning

Although Kristen and Dave Kelman had worked previously with an estate planning attorney, their existing will was a typical boilerplate document and, as Kristen pointed out, it was pre-kids. “We were in the process of adoption so it mentioned future kids but it just didn’t go deep enough,” explained Kristen. “The previous attorney asked a [...]

Blended Families

Although Matthew and Jennifer Bishop had carefully put together wills after the birth of their son, that was nearly six years ago and their lives had become much more complicated. Matthew’s business, which operated in a niche market, now had offices across the state of Georgia. “As the business became more profitable, we had more [...]

Estate Planning: Common Concerns and How to Address Them

Estate planning is the process of addressing a number of important issues that everyone will eventually need to face. This section is intended to summarize the basic concerns people have and to give you an idea of how estate planning techniques can be used to address these concerns. 1. Who will handle my affairs if [...]

Charitable Giving and Social Capital

“Social capital” is essentially money or other assets which will be used for activities which benefit either the government or society. When you pay taxes, you are involuntarily creating social capital, which will be spent as the government decides. With proper estate planning, you can reduce or eliminate wealth transfer taxes such as the estate, [...]