It’s that time of year again: tax season. No one enjoys doing their taxes, and that is likely why many of us leave this tedious task to the last…possible…moment. As Tax Day approaches, millions of Americans are likely scrambling to track down
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Estate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your death. One commonly known purpose of estate planning is to minimize taxes and costs, including taxes imposed on
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Estate Planning Options Continued: In the previous post, we discussed the importance of incorporating legacy protection into your estate planning for the benefit of your heirs, and we began looking at common strategies for doing so. Inspired by Carnegie, one of our
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In this post, we will address the critical yet often-misunderstood topic of Social Security survivor benefits. Survivors Benefits According to the Social Security Administration, a surviving spouse may be eligible to receive the deceased spouse’s full retirement benefits at full retirement
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We’re looking at the unique planning requirements of families who have loved ones with special needs. Understanding the pitfalls associated with special needs planning is a must for all who assist families with children, grandchildren or other loved ones (such as parents)
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One of the greatest concerns for the elderly we serve and their families is that of long term care. Two-thirds of seniors will need care at some point in their life and many have not planned for this likelihood. It is an
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The benefits of a highly detailed, comprehensive power of attorney are numerous. Unfortunately, many powers of attorney are more general in nature and can actually cause more problems than they solve, especially for our senior population. We’re highlighting the benefits of a
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People often wonder about the value of using irrevocable trusts in Medicaid planning. Certainly gifting of assets can be done outright, not involving an irrevocable trust. Outright gifts have the advantages of being simple to do with minimal costs involved, including the
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Often in estate planning, attorneys present the idea of guardianship and/or conservatorship as a bad thing – something to be avoided. In a perfect world, we could move through our lives from cradle to grave without such things as guardianships and conservatorships.
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We plan to go on vacation. We plan to have dinner with friends. But when it comes to planning for how we will be taken care of as we advance in age, many of us prefer not to think about it, believing
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Divorce can be complicated, frustrating, disappointing, expensive, along with a whole range of other emotions, as anyone who has endured this type of proceeding can attest. As difficult as the issues can be in a divorce proceeding, can you imagine what happens
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No one likes to think about the possibility of their own disability or the disability of a loved one. However, as we’ll see below, the statistics are clear that we should all plan for at least a temporary disability. Disability planning is
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We’re examining the unique planning requirements of families with children, grandchildren or other family members (such as parents) with special needs. There are numerous misconceptions in this area that can result in costly mistakes when planning for special needs beneficiaries. Understanding the
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Small business owners are a critical segment of our economy, and they are a foundation for future growth. As the baby boomer generation grows older, it is estimated that close to 60‐80% of small businesses will transfer ownership over the next ten
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At McChain, Miller, Nissman, we’re happy to introduce our new Elder Law attorney, Mark Clark. He comes from a long background of both law and clergy work. Below is some information from ElderCounsel about why you may need an elder lawyer. Keep
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We’ve gone through Arkansas firearms laws, concealed carry laws, and now today we’re writing to you about Arkansas restrictions on guns. Below you’ll find important information if you’re a gun owner in the state of Arkansas. Guns in a vehicle Arkansas prohibits
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Last post we wrote about Arkansas law for firearms. Today’s post focuses on Arkansas concealed carry and where firearms are and are not prohibited. At McChain, Miller, Nissman, we take this into consideration when creating your Gun Trust. Give us a call
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When owning firearms in any state, it’s important to know firearms laws and regulations for that particular state. We’ve got the information for Arkansas below. Arkansas does NOT: Conduct its own background checks for firearm sales, but instead relies on the FBI;
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Most Americans do not know, or refuse to accept, the facts surrounding their potential need for long-term care and the costs associated with it. This was reconfirmed recently in a telephone survey of 1,735 Americans over the age of 40, funded by
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You’ve seen us mention the National Firearms Act, or NFA, more than a few times in our past several posts. Today we’re going to explain a little more about the NFA and the importance it plays in your firearms ownership. The NFA handles
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At McChain, Miller, Nissman, we are determined to help our clients make the absolute best plan we can to protect them and give them peace of mind. So, today, we’re sharing common mistakes to avoid when creating a Gun Trust so you
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In our last post, we wrote to you about what a Gun Trust is. Now we’re going to take a deeper dive into Gun Trusts and the roles of each person involved in the trust. Gun Trusts should be used to own
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If you follow us on Facebook, then you know we’ve been talking a lot about the importance of getting a Gun Trust. But, we haven’t been clear on WHAT a Gun Trust is … until now. A Gun Trust is a trust
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Considering the myriad of trusts available, creating an estate plan that works can seem daunting. However, that’s what we, as estate planning attorneys, do every day. We know the laws and will design a plan which addresses your specific situation. Here’s a look at the basics
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While it’s not unusual for an original last will and testament to be misplaced, it is when your daughter happens to be the Register of Wills for Baltimore City. What is a Register of Wills? In Maryland, the Register of Wills is
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