- Guardianship"Estate Planning is for Everyone" "What is Estate Planning," "The Three Gremlins of Estate Planning," "What is a Disability," "Delays are Inherent in Disability," "Disability Can Be Costly," "Guardianship Proceedings Are Open to the Public," "Planning for Disability," "Is Probate Really for the Lawyers?," "What is Probate," "Wills Guarantee Probate," "Probate: It Keeps Going, and Going, and Going," "Two Things You Can't Cheat: Death and Taxes," and "Why Durable Special Powers of Attorney are Necessary," "Financing Long-term Care," "Life and Disability Insurance for Seniors," "The Use of Insurance In Preparation of Retirement," and "How to Create a Life Insurance Private Pension with Split-Dollar."
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- Business DisputesAs a recognized authority on estate and wealth strategies, estate planning lawyer Guy Jackson has appeared on television and radio programs. He is frequently called upon by his peers to speak at state and national continuing education programs on estate planning topics. Mr. Jackson has also served as an Adjunct Professor of Business Law at Oklahoma Christian University for both undergraduate and MBA students, and as an Adjunct Professor for the Estate Planning Institute at Michigan State University.
- Limited Liability CompaniesHigh net-worth individuals often face an increased risk of exposure to litigation, especially in our increasingly litigious society. Mr. Jackson can advise you on advanced asset protection planning and wealth preservation strategies including the use of Family Limited Partnerships (FLPs), Limited Liability Companies (LLCs), business protection involving the use of corporate entities, and Delaware Asset Protection Trusts. Mr. Jackson can also advise you on the use of multi-generational Dynasty Trusts and irrevocable trusts.
- Estate PlanningThe Jackson Law Firm in Edmond, Oklahoma provides comprehensive, tax-sensitive estate planning and wealth preservation strategies for high net-worth individuals. Most of our clients have estates of $15 million or greater, or present unique and specialized planning issues. We do thoughtfully consider representation in smaller estates. The vast majority of our clients come from referrals from other estate planning lawyers and other estate planning or financial professionals who know of our reputation for finding creative solutions to complex problems. For a comprehensive discussion of our law firm's areas of expertise, please see our Practice Areas.
- WillsWe recognize that every client's situation is unique and we prepare every client's estate planning documents accordingly. A properly executed estate plan takes into consideration various contingencies, including your subsequent incapacity or disability. Revocable (Living) Trusts are frequently used to avoid probate administration, and the firm also utilizes Pour-Over Wills, Durable Special Powers of Attorney, Health Care Powers of Attorney, Living Wills and other advance directives. Mr. Jackson's expertise includes...
- TrustsStrategies leveraging the annual gift tax exemption include the use of irrevocable trusts known as “Crummey Trusts” after the name of the definitive case in this area. Since each taxpayer can give up to $13,000 per year to a beneficiary, collectively a married couple could gift $26,000 to a beneficiary each year, free of gift tax, and also thereby removing $26,000 from their estate for estate tax purposes. With Crummey Trusts, each parent establishes an irrevocable trust naming their spouse as trustee, then uses the annual gift tax exclusion amount to make contributions into the trust free of any gift tax. The Crummey Trust is a good option for clients who are not ready to give up control of their assets; with a Crummey Trust, parents can shelter $26,000 per child while serving as trustees of the trusts, thereby retaining complete control over the assets of the trust during their lifetime. Gifts can be leveraged even further by using the funds gifted to the trust to purchase life insurance.
- Power of Attorney
- Probate
- Bankruptcy
- Tax LawPrior to the enactment of the 2001 Tax Act, many estate planning lawyers encouraged clients to make taxable gifts, because the gift tax was more cost-effective than estate tax. Although estate and gift tax shared identical rate structures, gift tax was imposed on the amount exclusive of the tax payable, whereas estate tax was imposed on a full amount including the tax. The end result, provided the donor survived three years from the date of the gift, was that gift tax was effectively one-third cheaper than estate tax. Taxable gifting was therefore an attractive tax planning strategy prior to the estate tax repeal.