Estate Planning Attorneys in Davenport, Iowa
Duffy Law Office
Davenport, Iowa 52807
Law Firm Overview
Our firm is dedicated to providing you with quality estate planning resources, so you can become familiar with all of the existing options. When you visit or call our office, we want you to feel comfortable discussing such an important issue concerning both you and your family.
Duffy Law Office - Providing services in the following areas of law:
Articles Published by Duffy Law Office
Don't Be Fooled by Estate Tax Changes
With the recent changes to the estate tax, many people have become confused about estate planning. Unfortunately, a lot of the confusion is because people have misinterpreted the changes to the tax. It has some people thinking that the increase in the estate tax exclusion limit means that they do not need to plan for their estate at all. Nothing could be further than truth.Read Article
Your Trustee Questions Answered
Trusts are an integral part of estate planning and trusts only work when trustees carry out trust instructions. To that end, we’re answering your trustee questions here. If you have additional questions or need help choosing a trustee, ask your estate planning attorney.Read Article
Making Long Term Care Decisions for a Loved One with Dementia- June
A loved one with dementia has special needs that should be taken into consideration, especially when choosing a long term care facility. It’s important to take extra care so that your loved one is able to live a comfortable and safe life. There are steps that you can take to make sure that you’re choosing the best possible facility for your loved one. We discuss those steps below.Read Article
Identify and Plan for Your Digital Assets
Think about your online life. Many of us bank online, communicate online, conduct business online, socialize online, and market our businesses online. Keep a notebook next to your computer for one month. Each time you access an account or digital asset site, jot down the account number, web address, password, user ID, and PIN. Then, organize the list so your loved ones will be able to handle your digital assets if you become incapacitated or die.Read Article
Your Probate Questions Answered
If you’re like most people, you’ve heard the term, “probate, «but aren’t really sure what it means other than it happens when someone dies and lawyers are involved. To bring some clarity to the subject of probate, we’re answering common probate questions below:Read Article
You Need a Custom Estate Plan
Many people assume that an estate plan is a relatively easy tool that can be completed in a matter of minutes by downloading documents from the internet. This is why many people attempt to do their own planning. It’s important to understand how beneficial a custom plan can be for you and your life and how worthless a generic is.Read Article
Why Might a Will Be Contested?
When creating a will, it’s important to take extra care to ensure that you have a legal and valid will. This can allow your wishes to be respected and can help to keep a will contest, or challenge of a will, at bay. Are you wondering what may warrant a will contest? Take a look below, to learn more.Read Article
Why is Probate Necessary?
If you’re like many people, you may have the desire to avoid the probate process. Because it can be a public, lengthy, and expensive process, many people plan their estate in hopes to avoid it. There are reasons why probate is necessary in some cases. Take a look at the reasons below to see how probate can be helpful. If you have any questions, or if you’d like to discuss the probate process, contact an estate planning – probate attorney.Read Article
What is a Pour?
A pour-over-will is the will that is used in trust based estate planning. It has three important functions. The pour-over function funnels any assets not funded into your revocable living trust at your death, into the trust, through the probate process. In addition, you appoint your personal representative (i.e. executor) and guardians for your minor children in your pour-over-will.Read Article
What are Unintended Heirs?
Unintended heirs are those people who end up with your money, without you intending to give it to them. Often the government, your surviving spouse’s new significant other, or an estranged relative are unintended heirs. Unfortunately, children are unintentionally disinherited with poor estate planning and inappropriate asset ownership. Instead the assets go to unintended heirs. Every adult needs a comprehensive up-to-date estate plan that is customized for his or her individual situation.Read Article
The Will Fact Sheet
Everyone, who has attained the age of 18, needs his or her own will. There is often some confusion about what a will can and cannot do so we created this will fact sheet to guide our clients. We hope you find it helpful.Read Article
The Importance of EP
If you have not yet handled your estate planning affairs, you will want to carefully consider your needs to determine your individual estate planning goals. It's important to have planning in place so that you're always prepared. If you don't have an estate plan, you may have to deal with serious consequences.Read Article
The Importance of Asking Questions
Taking the time to develop your estate plan can be an overwhelming and confusing process. When you’re new to planning, you will likely have a lot of questions and concerns. It’s important to have an open line of communication with your attorney so that you’re able to better understand your planning and get the help that you need.Read Article
Problems that Can Go Wrong with Your Estate Plan
If you want to have the best estate plan possible, you need to be aware of potential pitfalls and plan so that you avoid potential problems. Your wishes may also not be respected if there are errors. Take a look at the following information, to learn more. If you have any questions, or if you’d like begin creating your estate plan, contact an estate planning attorney.Read Article
Lessons Learned Through Famous Court Cases
In 2006, Anna Nicole Smith made headlines when she appealed a 9th Circuit Court of Appeals decision all the way to the U.S. Supreme Court. The famous model and later reality television star made headlines when she married billionaire J. Howard Marshall. Marshall, 62 years older than Smith, was her second husband. Many speculated that she wed Marshall solely for his sizeable estate and wealth.Read Article
Follow These Steps through the Estate Planning Process
It may seem confusing and scary having to plan your own estate planning affairs. Know that by creating a plan you will be taking the first steps in preparing yourself for the future. If you’re just getting started with your planning, take a look at the following steps; this will help to guide you throughout the process. If you have any questions, or if you’d like to begin your estate planning, contact an estate planning attorney.Read Article
Credit Card Debt Could Destroy Your Retirement
When most people think of the elderly, they envision someone that is very thrifty with their money, and in some cases they’d be right. Some of the elderly people of today lived through events like the Great Depression. Due to their experiences, these people learned to put away for a rainy day, and only purchase items that were necessary.Read Article
Life Insurance During Retirement
For many people life insurance is an important safety net for their loved ones. With a life insurance policy you know that your family will be financially secure even if something was to happen and you could no longer provide for them. When you have a young family, there is no doubt that life insurance is very important, but is it as important once you are retired?Read Article
Do You Have a Strong Incapacity Plan in Place?
Have you heard of incapacity planning, guardianships, or conservatorship? Have you heard of a living willpowers of attorney, and trust planning. If you’re like most folks, you’ve heard the terms somewhere but don’t have a full grasp of how it all fits together; that’s totally normal. But, incapacity planning is much more important than you think. Just ask anyone who’s ever had to use a disability plan, which worked or didn’t work.Read Article
Discuss End of Life Decisions and Create a Living Will
If you’re planning for the future, you will have many planning needs, including a living will in your comprehensive estate plan. This will allow you to legally spell out your end of life treatment decisions. Without a plan in place, others will be left to guess and make difficult choices. Take a look at the following information, to learn more about this planning need.Read Article
Can You Disinherit Your Spouse?
Sometimes, probate lawyers become involved in cases where their clients ask for their assistance in drafting wills that will give their spouses very little of their estates or nothing at all. Probate lawyers may also become involved in cases representing spouses who receive nothing through disinheritance.Read Article
As a Single Parent, Do I Need Trust Planning?
If your children are minors and/or you want to protect the assets that go to your children from creditors and divorcing spouses, you need trust planning. As a single parent, there is no back up if you become incapacitated or die. A strong, comprehensive, and up-to-date trust-based estate plan needs to be in place to protect your children.Read Article
Are You Ready to Serve as a Guardian for Minor Children?
If you’ve been named as a guardian for minor children in a loved one’s will, your hands will be full if you are called upon to act. It’s important to fully understand your duties before agreeing to serve as a guardian. This will allow you to be better prepared and can make it possible for you to decide if you’re the right fit.Read Article
Annuities as Part of Your Retirement Plan
One way that you can invest in your retirement is through annuities, though this retirement tool may not be right for everyone. If you are still young and would like to save more for retirement than what you can contribute to your retirement plan each year, an annuity may be a good option.Read Article
Are You Having Trouble Choosing a Guardian?
Many parents with young children have difficulty deciding on a guardian. In many of these cases the parents have many possible guardians to choose from or they don’t have someone who is a complete fit. This is completely normal. If you’re having trouble deciding on a guardian, take a look at some of the tips below. Your estate planning attorney can help you decide on a guardian for your children.Read Article
5 Benefits to Creating a Will
A will is an important estate planning document that many people never take the time to create. A will can help you achieve many of your estate planning goals. It can also be used to determine how many of your affairs will be handled after your death. Take a look at the following 5 benefits to creating a will. If you have any questions, or if you’d like to create a will, meet with an estate planning attorney.Read Article
32.9 Billion Reasons to Engage in Estate Planning
The Wall Street Journal reported, “[a]ccording to the National Association of Unclaimed Property Administrators, state treasurers currently hold $32.9 billion in unclaimed bank accounts and other assets. (You can search for unclaimed assets at MissingMoney.com.)” For the most part, this is money heirs didn’t know about because their loved ones either didn’t do estate planning or didn’t stay organized and it was missed.Read Article
10 Benefits of a Revocable Living Trust
If you’re planning or updating your estate plan, you may want to consider creating a revocable living trust. Trusts are a highly beneficial estate planning tool. Take a look at the following information, to better understand 10 benefits of a revocable living trust. If you have any questions, or if you’d like to create a trust, contact an estate planning attorney.Read Article
Estate Tax Changes for 2011
In estate planning circles the estate tax is always a core issue, but it was an especially hot topic in 2010. A provision contained in the Economic Growth and Tax Relief Reconciliation Act of 2001 (commonly referred to as the “Bush tax cuts”) called for a repeal of the estate tax for the 2010 calendar year. It was set to return in 2011 with an exclusion of just $1 million and a top rate of a whopping 55% (it was 45% in '09).Read Article
Arrange for the Family Business as Part of Estate Planning.
Some of the concerns related to the changing economy and an agricultural relationship between the generations of farmers, in an industry that pushes small businesses to failure. A simple understanding of how to leave your small business or farm to the right persons or family members in planning your estate ahead of time can be vexing, especially when such an action is necessary.Read Article
Don’t Forget to Plan for Retirement
A lot of people these days are not seeing consistent growth in their retirement savings, if they have a retirement account at all. The reason why retirement accounts fail to grow often has nothing to do with the market, and everything to do with the everyday cost of living.Read Article