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Lancaster Law Firm
Tax Planning Tips 2023
Tax planning is an important aspect of your overall financial planning, as it helps you make the most of your money by minimizing the amount of taxes you pay.  Begin by reviewing your tax bracket. It’s important to understand which tax bracket you fall into, as this will determine what tax rate you will pay...
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Estate Planning Strategies for High Net-Worth Families
Individuals with high net worth have several unique considerations to address when it comes to ensuring their estate is handled properly. If you own a high net-worth estate (worth more than $1 million in liquid assets), it’s important to have a coordinated estate plan that protects you and your loved ones and enables the ease...
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The Baby Boomer generation is the fastest-growing age group in the US. Upon entering their senior years, this group faces a unique variety of concerning issues that, in some situations, may require legal counsel. Hiring an attorney in the state of Mississippi who specializes in elder law can protect you or your loved ones from...
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Due to changing IRS rates year-to-year, it’s wise for those planning to maximize the value of their estate for the benefit of their loved ones to stay informed about what those changes are and seek professional guidance to ensure they’re aware of their options going forward. The IRS recently raised the Federal 2023 Estate Tax...
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When considering estate planning, it’s critical to consider the tax implications of the decisions that you’re making. Building awareness about how taxes could affect you and your heirs is crucial in ensuring you’re making solid financial decisions that maximize the value of your estate. Mississippi is a tax-friendly state for many people. In the big...
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Estate Planning During Recession
Many people prefer to pinch their pennies during a financial downturn, and we understand why many consider estate planning a luxury. It’s reasonable to want to avoid the upfront costs of creating or making significant updates to their estate plan in preparation for a recession. However, for Mississippi residents and business owners, a valid and...
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Business Estate Planning
An estate plan is an essential tool for anybody looking to protect and control their hard-earned wealth and assets. This is especially true for business owners. Whether you’re running a legacy business to pass down to your loved ones or simply want to ensure your wishes are protected in your absence, building an estate plan...
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Do I need a living trust in Mississippi
While creating a will is an important and well-known part of estate planning, to make sure your assets and loved ones are truly protected when it comes to Mississippi estate law, looking into a living trust might be the appropriate next step. It streamlines the process of managing your assets while avoiding the lengthy probate...
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Mississippi Estate Planning Lawyer
If you have a gun collection, your estate plan may be missing the mark if it fails to include a specially drafted gun trust. The typical estate plan provides for tax saving strategies, probate avoidance and beneficiary designation of various assets. However, some assets pose additional issues that must be carefully addressed to avoid unintended...
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Mississippi Estate Planning Lawyer
A registered agent is someone that you as a business owner designate to accept legal papers if your company is sued or named in any type of administrative agency case. If your business is legally established within a state in which you don’t maintain a physical presence, you are often required to appoint a registered...
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