McNair Dallas Law Blog
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Serving Clients Throughout the Dallas-Fort Worth Metroplex For 40+ Years. John McNair. Attorney at Law. McNair Dallas Law are a full-service estate planning and elder law office working to provide Peace of Mind to their clients and their families. The McNair Dallas Law Elder Law and Estate Planning Blog provides useful insights about issues important to older adults and their families..
McNair Dallas Law Blog
2d ago
Planning a trip can be exciting, but before you jet off, it’s essential to ensure that your estate plan is up-to-date. Life is unpredictable, and having a current estate plan provides peace of mind, knowing that your wishes will be honored if anything unexpected happens. Here’s a step-by-step guide to help you ensure your estate plan is current before traveling.
Review Your Will Before You Depart
Your will is the cornerstone of your estate plan. It dictates how your assets will be distributed and who will take care of your dependents. Often we meet people who haven’t updated their wills for ..read more
McNair Dallas Law Blog
1w ago
The Press-Enterprise’s recent article entitled “Legal documents for young adults” describes some of the important legal and estate planning documents your “kid” (who’s now a young adult) should have.
They’ll always be your babies, but once your child turns 18, he or she is legally an adult.
Be certain that you’ve got the legal documents in place so you can be there for them in case of an emergency.
HIPAA Waiver. This form allows medical personnel to provide information to the parties named in the document. Without it, parents would be prohibited from accessing their 19-year-old’s health inform ..read more
McNair Dallas Law Blog
1w ago
In the ever-evolving landscape of wealth management, affluent parents often choose to support their children and grandchildren financially during their lifetimes. While the desire to make a positive impact is evident, navigating the tax implications of such generosity can be complex. Fortunately, several strategies exist to facilitate tax-efficient giving, while maximizing the benefits for donors and recipients. Based on Kiplinger’s article, “Three Ways to Give to Your Kids Tax-Free While You’re Still Alive,” we explore three strategies that can maximize tax-free giving to consider in your est ..read more
McNair Dallas Law Blog
2w ago
When your child leaves home, it’s important to understand that legally you do not hold the same rights in your relationship that you did for the first 18 years of your young adult’s life.
Wealth Advisor’s article entitled “Estate Planning Documents Every College Student Should Have in Place” says that it’s crucial to have these discussions as soon as possible with your recent graduate about the plans they should put into place before going out on their own or heading to college. An experienced estate planning attorney can give counsel on the issues concerning your child’s medical care and fina ..read more
McNair Dallas Law Blog
2w ago
Families are gathering this month to celebrate as the next generation of leaders graduate from high school and college. As these young people march forward into the next stage of their lives, they should do so with the protection of three essential legal documents reports Jennifer Luzzatto her article “Three Legal Documents You Need When Your Child Turns 18” in Forbes.
“Once your child turns 18, you no longer have the legal right to inquire about their medical, educational or financial status.” Luzzatto states. For example, a 18-year-old could be injured playing sports or in ..read more
McNair Dallas Law Blog
2w ago
Recent anecdotal trends show a new, positive shift among millennials and Gen-Z individuals. According to a recent article from Forbes, “Why Gen-Z Is Suddenly Creating Wills And Trusts—And You Should Too,” within recent months, more and more millennials and Gen-Zers who are being told to create an estate plan are actually going ahead and doing so.
The article says Gen-Zers and millennials have become the “quiet leaders” of estate planning. Several things are driving this shift:
Digital Assets. Younger people, even those of modest means, have significant digital assets, including cryptocurrencie ..read more
McNair Dallas Law Blog
3w ago
Families that include individuals with special needs require specialized planning to secure their loved ones’ security in the future, both in legal and financial terms. There’s often little expectation of the child becoming a fully independent adult, so careful planning is needed, as advised in the recent article “Financial Planning for Families with Disabilities” from Wealth Management.
Many families neglect planning for their retirement, focusing all their resources on developing a plan for their disabled child. However, both retirement and their child’s future need to be secured, which is w ..read more
McNair Dallas Law Blog
3w ago
Do you usually celebrate Mother’s Day by sending a card or a bouquet of flowers? In his article for Marketwatch, Andrew Keshner writes This Mother’s Day, moms need a lot more than flowers. Keshner cites a recent survey by MassMutual which found that only 59% of mothers say they are optimistic about their finances verses 74% of fathers.
This disparity highlights the disproportionate impact the pandemic has had on women, with working mothers more likely to face job loss while being less likely to get a raise, all while shouldering most of the remote learning, elder care, and in-home r ..read more
McNair Dallas Law Blog
1M ago
WAGM’s article entitled “A Closer Look at Elder Law” takes a look at some of the finer points of how a Certified Elder Law Attorney can help families and individuals planning for later life.
Elder law focuses on issues that often concern mature adults, but it’s not just for older people. Elder law attorneys frequently also work with families to ensure all members, especially those who have medical or other special needs, are protected.
This area of the law often also centers upon long-term care planning, and this should be started before someone is in a crisis and needs an immediate ..read more
McNair Dallas Law Blog
1M ago
Many people know that May is National Older Americans Month, but did you know it is also National Elder Law Month?
Every year since 1963, the month of May has been dedicated to recognizing the lives and achievements of older adults. The National Academy of Elder Law Attorneys (NAELA) supports this annual proclamation by increasing awareness of their work for and on behalf of seniors.
The National Elder Law Foundation (NELF) is the national organization that certifies practioners of elder and special needs law. This designation is recognized by the American Bar Association. To ..read more