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Do You Pay Taxes on Gifts From Parents?

In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person each year.

06/27/23 • by: Vick Law, P.C.

How Do The Rich Pass Wealth to Their Children?

Estate Planning

If you’re part of the baby boomer generation, you may be in the process of making plans to pass on any assets you have to your children and other beneficiaries.

06/23/23 • by: Vick Law, P.C.

How to Advocate for a Loved One with Parkinson’s

Estate Planning

Arguably, proper medication management is the most critical aspect of a successful hospitalization for someone with Parkinson’s Disease.

06/23/23 • by: Vick Law, P.C.

3 Documents You'll Need to Transfer Title Ownership

Estate Planning

One common question executors may have to deal with is how to transfer a car title after the owner dies.

06/23/23 • by: Vick Law, P.C.

3 Benefits Of Creating A Life Estate

Estate Planning

A life estate is a form of property ownership that splits control and ownership of a property. The person who creates the life estate for their home and assets is known as the life tenant. Though the tenant retains control of the property, they share ownership during their lifetime with the remainderman, a legal term referring to the estate's heir.

06/20/23 • by: Vick Law, P.C.

Preparation is Key for Estate Planning Success

Estate Planning

One major misconception is we simply can tell loved ones what we want to happen for the purposes of health or property distribution and family members can ensure that those wishes are followed.

06/19/23 • by: Vick Law, P.C.

3 Reasons Why an “I Love You Will" May be a Bad Idea

Estate Planning

An ‘I Love You Will’ works great as long as everything goes as planned. However, there are three reasons that kind of will may not love you back.

06/15/23 • by: Vick Law, P.C.

When Is a Special Needs Trust a Good Idea?

Estate Planning

Setting up a trust is one way to transfer wealth to a loved one and create financial stability for them.

06/15/23 • by: Vick Law, P.C.

What Does “Power of Attorney” Mean?

Estate Planning

A power of attorney is a legal document that gives a person the authority to act on another's behalf.

06/13/23 • by: Vick Law, P.C.

4 Parts of a Living Trust You Need to Know

Estate Planning | Trust Administration

A living trust is a legal document which places ownership and control of property into a trust, managed by a trustee for your benefit. Living trusts are often used as part of estate planning and can be helpful in case of incapacity.

06/07/23 • by: Vick Law, P.C.

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Estate Planning Blog

Do You Pay Taxes on Gifts From Parents?

How Do The Rich Pass Wealth to Their Children?

How to Advocate for a Loved One with Parkinson’s

3 Documents You'll Need to Transfer Title Ownership

3 Benefits Of Creating A Life Estate

Preparation is Key for Estate Planning Success

3 Reasons Why an “I Love You Will" May be a Bad Idea

When Is a Special Needs Trust a Good Idea?

What Does “Power of Attorney” Mean?

4 Parts of a Living Trust You Need to Know

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