McDonald Law Firm, LLC

Many people believe that because they took the time to create a trust, their estate will automatically avoid probate, and they will not have to take any additional steps. Unfortunately, this assumption creates a false sense of security. Click below to learn more: https://lnkd.in/egANrNxG #probate #probateattorney #estateplanning #estateplanningattorney

Every day we make hundreds of decisions for ourselves—from what to eat for breakfast to where to vacation. However, what happens if you cannot make decisions for yourself? Who do you want making day-to-day decisions on your behalf and serving as your conservator? https://lnkd.in/e4_MvtXN #estateplanning #estateplanningattorney #conservator

If you have overheard any estate planning discussions, you have likely heard the words “guardian” or “trustee.” In estate planning, deciding who will ultimately be tasked with caring for your minor child or managing funds for their benefit is an important decision that requires consideration of many factors. Click below to learn more. https://lnkd.in/gfws_4yA #guardianship #estateplanning #estateplanningattorney

We know it is difficult, even horrific, to imagine someone else raising your children. However, you must consider who you would choose to fill this important role in the event both parents die or are otherwise unable to care for their children before the children become adults. While the likelihood of you and the children’s other parent both passing away or becoming unable to parent your children is slim, the consequences of not naming guardianship of a child can be severe, and are well worth contemplating and addressing. https://lnkd.in/eAWkRcCK #guardianship #estateplanning #estateplanningattorney

Having somebody else pay for your estate plan can help with cost-related concerns. In most cases, it is perfectly fine for another person to do so. But as great as the gift of estate planning is, attorneys have certain ethical and professional obligations to their client—in this case, the person creating an estate plan—regardless of who is paying for it. Click below to read more: https://lnkd.in/e-AsPxBP #estateplanning #estateplanningattorney

You may think that if you die while you are married, everything you own will automatically go to your spouse and children. While this is partially true, it's a very risky move. Click to find out why. https://lnkd.in/ejVqd9Yv

While owning joint property may seem like an attractive option for succession planning, it also has the potential to cause disastrous unintended conskquences and complications. Consider the following risks before adding someone as a joint owner to an account or piece of property. https://lnkd.in/ebpiHDQj #estateplanning #estateplanningattorney #estateplan

Americans own a lot of stuff. Taking stock of your tangible and intangible possessions when creating an estate plan can be a tall order. Some assets may be overlooked and end up in what is called the residuary estate. A residuary estate can be created intentionally or unintentionally and may include valuable assets. Click here to learn more: https://lnkd.in/gZWyeCT7 #estateplan #estateplanning #estateplanningattorney

Special needs plans that utilize ABLE accounts can enhance quality of life for people with disabilities, offering financial protection while preserving access to public benefits for some individuals. Click to learn more: https://lnkd.in/exHrRz6W

If an individual with a disability is expected to receive a structured settlement, planning to use the settlement money to fund something called a special needs trust may be a particularly valuable decision. Click below to learn more: https://lnkd.in/eBBPvPnr #specialneedsplanning #specialneedstrust #specialneedsplanningattorney