Articles 2016-12-22T06:23:33+00:00

Articles

Georgia 529 Plans Get Even Better For Married Couples

Beginning with the 2016 tax year (i.e., for Georgia income tax returns filed in 2017), the 529 Plan contribution income tax deduction for married couples filing jointly has doubled from a maximum of $2,000 per beneficiary account to a maximum of $4,000 per beneficiary account. When considering Georgia's flat 6% income tax rate, this will increase the maximum 529 Plan contribution tax benefit from the current $120 to $240 per [...]

August 25th, 2016|

Back to the Basics: First Party vs. Third Party Asset Protection

At our firm, most of our clients are hard-working and successful. Having worked hard to accumulate the assets that they have, these clients are often concerned about protecting those assets, so that they benefit themselves and their loved ones while being protected from predatory outsiders or creditors. “Asset protection,” in this context, generally means using a combination of insurance, business entities, asset titling, and, in some cases, trusts, to protect [...]

July 19th, 2016|

When it Comes to Life Insurance, “Permanent” Does Not Mean Unchanging

Life insurance comes in two very basic types: term insurance and permanent insurance. Term policies, the most common kind, usually provide only a death benefit and do not provide any cash or surrender value. Term policies are generally best suited only for a fairly short-term insurance need, such as 10, 20, or 30 years. At the end of the term, the policies are generally allowed to lapse. Permanent policies, on [...]

June 27th, 2016|

How to Fund Your Revocable Living Trust (Updated September 2016)

This newsletter is the final installment of our three part series on Revocable Living Trusts (“RLT”s). The first newsletter in this series was “Should I Use a Will or a Revocable Living Trust? Separating Facts From Fiction,” and the second newsletter in this series was “Do You Need To Fully Fund Your Revocable Living Trust During Your Life? Separating Facts From Fiction.” This newsletter is for those who answered “yes” [...]

April 25th, 2016|

The Top Five Secret (and Abhorrent) Tricks to Winning a Guardianship and Conservatorship

The Georgia Code for Guardianship and Conservatorship became effective in July 2005. Since that date, attorneys who practice in this area have learned many tricks of the trade. I've studied the guardianship code, and I've even taught classes about the basics of guardianships and conservatorships. Yet, the best techniques to guarantee your client's success have very little to do with the code. Rather, these techniques take advantage of gaps in [...]

January 29th, 2016|

Having Those Hard Conversations During the Holidays

The holidays are a time when families gather together in celebration. Traditions are carried out and new ones are made. Stories are shared, memories created and relationships strengthened. However, these occasions may also reveal that time has passed and things have changed - and not for the better. The health, financial situation, and overall well-being of loved ones, particularly those who are aging, may be different than it was this [...]

December 21st, 2015|

In Celebration of National Adoption Awareness Month, We Focus on the Estate Planning Effects of Adoption

November is Adoption Awareness Month. In celebration, this issue of the Passionate Estate Planner will focus on adoption, and the estate planning effects adoptions can have. Two of our attorneys are adoptive parents, and adoption is a loving and beautiful way to build a family. However, while adoption legally creates new family ties, it also legally destroys old ones. The legal ties between family members create a host of rights [...]

November 20th, 2015|

Do You Need To Fully Fund Your Revocable Living Trust During Your Life? Separating Facts From Fiction (Updated September 2016)

This newsletter is the second part of a three part series on Revocable Living Trusts (RLTs). The first newsletter on this topic, which appeared in June 2015, was entitled, “Should I Use a Will or a Revocable Living Trust? Separating Facts From Fiction.” The first newsletter was designed to help explain how to decide whether a Will or a Revocable Living Trust should be the primary estate planning document. This [...]

September 10th, 2015|

Should I Use a Will or a Revocable Living Trust? Separating Facts From Fiction- (Updated September 2016)

You (or someone you know) may have heard that a Revocable Living Trust (often referred to simply as a “Living Trust”) is necessary for everyone. Revocable Living Trusts are often said to provide income tax or estate tax benefits, to ensure that one’s assets won’t be tied up in prolonged and expensive court probate proceedings after one’s death, or to protect one’s assets from one’s own creditors. Many people have [...]

June 30th, 2015|

Privacy by SafeUnsubscribe
Morgan and DiSalvo, P.C. Achieves Highest Metro Tier 1 Ranking from U.S. News & World Report and Best Lawyers