Author Archives mgarner

So What Do I Do Now?

mgarner  -  Aug 10, 2016  -  , ,  -  Comments Off on So What Do I Do Now?
When there has been a death, someone finds themselves in charge, it can be the spouse of the deceased, a child, a parent, a business partner, but someone – knowingly or not - is in charge.

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Keep What You Have

mgarner  -  Jul 07, 2016  -  , , , , , , , , , , ,  -  Comments Off on Keep What You Have
The first step in talking about asset protection is to define what you want to be protected against. Most people think of lawsuits or creditors, but the risks are far broader than just those. We face risks from fire and flood, to tax liability, to business risks, to

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Do I Need a Company?

mgarner  -  Jan 29, 2016  -  , , , , , , , , , , ,  -  Comments Off on Do I Need a Company?
Over the last six months we have had a tremendous number of clients starting businesses or wanting to make changes to an existing business. One of the first questions asked is, “Do I need to incorporate?” The answer is often complex and reliant on many different factors such as business

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Estate Planning Beyond the Documents

mgarner  -  Sep 21, 2015  -  , , , , ,  -  Comments Off on Estate Planning Beyond the Documents
For years the goals set for estate planning has been primarily the creation of legal documents or in some cases implementation of tax strategies. While those are critically important financially and to avoid probate complications, there are other planning items that are often overlooked. The largest of the consistently overlooked

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Your’s, Mine and Ours Trusts

mgarner  -  Sep 21, 2015  -  , , , , ,  -  Comments Off on Your’s, Mine and Ours Trusts
Most everyone has heard the dismal statistics on the divorce rate. Depending on which study you consult, between 40% and 50% of married couples divorce. The rate of divorce for second marriages is even higher. What few people consider is the impact those statistics can have on their estate plans.

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Is Your Retirement Plan Protected For You and Your Heirs?

mgarner  -  Oct 07, 2014  -  Comments Off on Is Your Retirement Plan Protected For You and Your Heirs?
Is Your Retirement Plan Protected For You and Your Heirs? Many people take advantage of the wide range of tax advantaged accounts to plan for retirement. Among the advantages of retirement accounts are enhanced protections against seizure by creditors or in bankruptcy. However that protection varies based on the type

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Long Term Care Choices

mgarner  -  Jul 29, 2014  -  Comments Off on Long Term Care Choices
One of many issues I encounter when creating estate plans with my clients is health care treatment. When I prepare an advance health care directive or trust instructions, clients discuss their preferences for lifestyle, care choices and location in the event of a prolonged illness. This information is then placed

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Unintended Tax Consequences

mgarner  -  Jul 29, 2014  -  Comments Off on Unintended Tax Consequences
Over the last few months a new issue has arisen concerning older trusts. We are starting to see significant capital gains trapped in the estate plans where the first spouse has died. In the 1990’s and early 2000’s it was very common for even small estates to have tax planning

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Estate Planning Necessity – Funding

mgarner  -  Mar 20, 2014  -  , , , , ,  -  Comments Off on Estate Planning Necessity – Funding
Funding is the word, attorneys, trust companies and financial professionals use to describe the titling, vesting, ownership and beneficiary designation of property, generally in relationship with estate planning.  Funding is critical to any estate plan’s success because the proper ownership or beneficiary designation of an asset directs not only to

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Why Do I Need a Buy/Sell Agreement?

mgarner  -  Mar 20, 2014  -  , , , , ,  -  Comments Off on Why Do I Need a Buy/Sell Agreement?
What is the benefit of a Buy/Sell Agreement and are they worth the expense?  The benefits are many as a properly drawn Buy/Sell Agreement can: Set an agreed value for a business for purposes of inter-owner transfers; Prevent strangers from becoming part of the business; Provide continuity when an owner

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