Blog

We understand that it feels hard to get around to estate planning; it sounds about as fun as getting a root canal. However, we also understand that we all want to make sure that our loved ones are protected and receive our hard-earned assets -regardless of whether we have $10,000 or $10 million.

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 gifts, estates, generation-skipping transfer, and probate court costs.

You don't need to have a summer house on Lake Lanier or a private art collection big enough to rival the High Museum of Art to consider yourself the owner of an estate. In fact, virtually anyone who owns anything has an “estate” in the eyes of the law.

You May Not Think You Need a Will, But You Really Do. Most Americans do not have a simple will as part of their estate plan.

We at the Thompson Mungo Firm understand that no one wants to discuss death and dying. And yet, it's a critical time in everyone's life and one for which we know we need to prepare.

While the term fiduciary is a legal term with a rich history, it very generally means someone who is legally obligated to act in another person?s best interests. Trustees, executors, and agents are all examples of fiduciaries.

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 gifts, estates, generation skipping transfer and probate court costs.

With extreme wealth accumulated, one would assume that celebrities would take steps to protect their estates. But think again: Some of the world?s richest and most famous people enter the pearly gates with no estate plan in place, while others have made estate planning mistakes that tied their fortunes and heirs up for years in court.

We understand that it feels hard to get around to estate planning; it sounds about as fun as getting a root canal. However, we also understand that we all want to make sure that our loved ones are protected and receive our hard-earned assets ?