Blog

If you find yourself with extra time on your hands, now is the perfect time to start or review your estate plan. We are happy to continue to assist our clients with task-even during the current crisis. Under Governor Laura Kelly’s executive order 20-20, notaries and witnesses can temporarily act via audio-video communication technology. This [..] The post Estate Planning during the COVID 19 pandemic appeared first on The Fleming Law Firm.

Creating a business is an exciting endeavor.  You, either on your own or with other partners, create an idea, come up with a company name and decide to register the company as a limited liability company within your state.  These are all important steps in forming a new business, but perhaps one of the most [..] The post The importance of an operating agreement appeared first on The Fleming Law Firm.

If you have a tax-deferred individual retirement account (IRA) and you are age 70 1/2 or older, the IRS requires you to withdraw a certain amount from your IRA each year. This is called a required minimum distribution, or RMD, and it increases your total taxable income. However, if the IRA distribution goes directly to [..] The post Qualified Charitable Distributions from an IRA appeared first on The Fleming Law Firm.

An executor is a fiduciary, who upon your passing, is in charge of handling your estate. This role can involve a great deal of responsibility, including finding and accounting for your assets and liabilities, representing your estate to the Court (with the assistance of legal counsel), filing final tax returns and assist in contacting beneficiaries [..] The post Executor – The importance of choosing the right person appeared first on The Fleming Law Firm.

The start of a new year is a great time to pull out your estate plan or begin talking about your estate plan. Things to review include the following: 1. Would my estate have estate tax issues if something happened to me or my spouse today? 2. Do the people or corporate fiduciaries you and/or [..] The post Estate Plan Review appeared first on The Fleming Law Firm.

Keeping things simple for loved ones is the number one request I hear from my estate planning clients. This is part one of a short series designed to highlight some easy estate planning tips that can help keep things simple for families at the time of a loved one’s death. What is Probate? In a [..] The post Simple Estate Planning Tips: Pay on Death Accounts (POD) appeared first on The Fleming Law Firm.

When a loved one dies, not only does the family have to deal with the emotion of losing their loved one, the family must also deal with the overwhelming responsibility of closing out the person’s financial life. The following is a list of things that the family and loved ones must deal with after a [..] The post What to Do When a Loved One Dies appeared first on The Fleming Law Firm.

An ounce of prevention truly is worth a pound of cure. Entrepreneurs and seasoned businesses alike may benefit from business consultation. Business consultation is often a step in the business formation process. A budding entrepreneur will benefit from consultation to help the business owner discover what level of risk the company can bear, and what [..] The post Business Consultation appeared first on The Fleming Law Firm.

An estate planning concept that is applied to extend the life of an Individual Retirement Account is referred to as a “stretch” IRA. The benefits of a “stretch” IRA are that it extends the tax deferred growth of a persons IRA and provides for 2nd, 3rd or 4th generations to benefit from this asset. Contact [..] The post Stretch IRA appeared first on The Fleming Law Firm.