Blog Articles

Book An Initial Call Now

Top 5 Estate Planning Nightmares You Can Avoid with a Will

February 21, 2024
In the realm of estate planning, a common adage rings true: “Failing to plan is planning to fail.” As an experienced estate planning attorney, I’ve witnessed firsthand the turmoil and heartache that can ensue when individuals neglect the crucial step of…
Read More

Corporate Transparency Act: New Business Reporting

February 20, 2024
A new federal law, the Corporate Transparency Act (CTA), effective Jan. 1, 2024, impacts almost all limited liability companies (LLCs) and small corporations in the United States. Businesses now have new reporting requirements annually, and these changes may lead to new challenges for small and family business owners. This article provides an overview of the new reporting requirements…
Read More

What Happens to Your Digital Assets when You Die?

February 19, 2024
However, believe it or not, if you don’t have a ‘digital estate plan,’ your online footprint–email, social media, cloud storage, etc.–could live on forever.
Read More

Can Grandparents Give Money to Grandchildren for College?

February 18, 2024
As the cost of college tuition skyrockets, parents and grandparents can take advantage of tax-efficient 529 plans and higher limits on gift and estate taxes.
Read More

Don't Gamble with Your Future: Why Choosing the Right Estate

February 16, 2024
Estate planning: two words that encapsulate the entirety of your life’s work and the legacy you wish to leave behind. It is a profound yet often misunderstood aspect of personal finance and legal preparedness. As an experienced estate planning attorney, I’ve seen firsthand the turmoil and heartache…
Read More

How Does a Living Trust Protect Your Legacy

February 15, 2024
A living trust won't be for everyone. However, it can provide big benefits for some. Many people use a living trust for one big reason: avoiding probate. However, there are other reasons you should seriously consider.
Read More

Understanding the Generation-Skipping Transfer Tax (GSTT)

February 13, 2024
As an estate planning attorney, I frequently encounter questions regarding the Generation-Skipping Transfer Tax (GSTT). This tax, often overlooked, plays a critical role in the strategic planning of estate transfers. In this article, I aim to demystify the GSTT and provide practical tax tips to those navigating this complex area. Understanding the Generation-Skipping Transfer Tax The Generation-Skipping Transfer Tax is a federal tax on transfers of property that skip a generation. This tax was introduced to prevent families from circumventing estate tax by transferring wealth directly to grandchildren or other “skip persons.” The Mechanics of GSTT The GSTT is levied…
Read More

Estate Planning for High Net-Worth Individuals with

February 12, 2024
Residual income, especially prevalent in the entertainment industry, refers to ongoing payments received for work done in the past. This income can stem from royalties in TV shows, movies, music, or books. A notable example is the late Matthew Perry, whose role in Friends brought him substantial residuals, as highlighted in a CNBC article. The Importance of Estate Planning for Residual Income For individuals with significant residual income, estate planning is crucial. It ensures that their assets are distributed according to their wishes and can help mitigate complex legal and financial issues after their passing. Case Study:…
Read More

How to Liquidate Assets after a Loved One's Death

February 11, 2024
The loss of a loved one is a difficult time, often compounded by the necessity of addressing estate settlement and the liquidation of assets. In this guide, we’ll explore the key steps involved in liquidating assets after death, focusing on estate settlement processes and related legal considerations. Understanding the Role of…
Read More

How Do Special Needs Trusts Work?- 2

February 10, 2024
One of the most commonly recognized instruments for protecting assets for a disabled beneficiary is through the use of a Special Needs Trust, also known as a Supplemental Needs Trust.
Read More
Let Us Help You Through This

Reach Out Now

What Sets Us Apart
We understand this process can be difficult. We ease you through it with your best interest in mind.

Legal problems are extremely stressful, especially when your family, your health, or your freedom are at stake. At this point in time, you may not even be sure what kinds of questions you need to ask a lawyer, but that’s entirely normal. Whether your situation involves family law, estate planning, elder law, a criminal charge, or a personal injury, we will start by giving you all the information you need.

The way we see it, you deserve to get this information directly from an expert. That’s why we make it easy for you to get in touch with your lawyer, and we never ask you to sit down with a paralegal or assistant instead.

As our relationship continues, we will keep you updated about the status of your case every step of the way. Your lawyer will reach out regularly to tell you about any new developments, and he will also be happy to answer any questions you have throughout the process.

Join Our eNewsletter

Stay informed and updated by subscribing to our eNewsletter!
Subscribe Now!
Law Offices of Claude S. Smith, III

805 Bigley Avenue
Charleston, WV 25302

Get Directions
Integrity Marketing Solutions - Estate Planning Marketing
Powered by