Welcome. I am Lynda H. McMaken and work in the areas of Estate Planning and Business Law.
- Last Will and Testament
- Trusts: Family, Marital, Pet, Special Needs, Specific, Limited and Broad; Irrevocable, Revocable and Testamentary
- Powers of Attorney: Durable, Health Care, Financial, Specific Use, Limited Use
- Health Care Directives: Advanced, Specific, Broad in Scope
- Formation of Corporations, both C and S, Professional Corporations, Closely Held Corporations; Limited Liability Company Formation and Professional Limited Liability Formation; Corporate formalities, Business law
Estate Planning, at its simplest, is a Will that leaves your estate to your spouse and then to your children. I can also help if you have a variety of assets, a variety of beneficiaries, (some of whom with more need than others), more than one marriage, children from different marriages, your spouse with children from a prior marriage or two, a home to keep in the family, closely held stock to transfer, conditions to be met for certain assets, situations to address for certain beneficiaries and layers and levels of complexity as to how funds are distributed.
I understand what the law requires for these documents, a Last Will and Testament, Trust (of whichever kind is needed) and Power of Attorney. I also know how the Court will most probably decide a case if the documents are challenged. I understand the use of the documents from the Grantor/Testator point of view, the impact on the beneficiary and the duty/responsibility of Trustee and Executor.
I understand taxes. Taxation of the estate. Taxation of a Trust. Capital gains inside a trust. Capital gains at death. How real estate is taxed. How a beneficiary is taxed and the differences between the tax situation of someone with wealth and someone on SSDI. I understand impaired beneficiaries. impaired fiduciaries. How to create and use a Foundation. How a foundation is different from a public charity. Reasons to use and reasons to avoid each in your estate planning. I know business. How a business is part of estate planning. How an L.L.C. can be used and what the dangers are with that use. I understand people. How needs change. The responsibilities of a Trustee and how they fail.
Over the years I have added and refined the language in my documents to address the concerns and problems I have seen. My documents preempt many issues. I see my clients and their families as dynamic and strong, yet vulnerable, and have knowledge of the ways your estate can serve your needs and those you love and those who rely on you.
Estate Planning requires a conversation.