Tax Time

Tax Time is almost here!

The end of the year is approaching and tax time is just around the corner.

It’s not too late to take action to lower your taxes for this year.

For businesses, end of year purchases, and prepaying some expenses and bills can get a few dollars in extra deductions for this year.

If you haven’t made a deposit to your IRA, now can be a good time to prepare for that.

Now is also a good time to go over your personal and business documents such as insurance, wills & testaments, powers of attorney, and health care paperwork to prepare for end of life events to make sure your survivors are properly taken care of.

mcdonald law firm

End of Life Preparations

Are your Affairs (Preparations)in Order in Case of End of Life?

This time of the year is when many begin to think about getting their affairs into order. For some reason the holidays such as Thanksgiving and Christmas bring on a sense of melancholy for some, excitement and happiness for many.

This is a time for visiting with friends, renewing old acquaintances, gift giving and just a general sense of enjoying life and giving thanks.

Tax time is just around the corner and as people prepare for that, they also begin to think about getting their other affairs in order, such as wills, powers of attorney, paperwork concerning health issues and other end of life documents.

Time off from work gives some of us time to think about these issues and a window of opportunity take care of them.

Many of us know we need to address these items but just keep putting them off.

End of life documents can make is easier for your spouse and survivors to handle lives problems and tragedies.

If you don’t have a last will and testament, power of attorney, and advanced health care plan in case of a terminal illness or death, don’t wait until is too late for these to benefit your survivors.

Arkansas versus A&M

Sec Football: Arkansas Versus A&M at At& T Stadium in Arlington.

As most SEC Football fans now, my favorite college football team, the Razorbacks came out second best against A&M Saturday in Arlington at AT&t Stadium.

The good news is that an Arkansas Alumni was honored at the game. The University of Arkansas honored Jerry Jones, the owner of the Cowboys and AT&T Stadium, at Saturdays game.. The Razorbacks celebrated Jerry’s induction into the Pro Football Hall of Fame as one of their former players and notable alumni by wearing Cowboys-inspired uniforms in ‘Razorback Red.’

Even though the Razorbacks came out second best in overtime, I still enjoyed the game and am looking forward to the next one.

Do I Need A Will

DO I NEED A WILL?

If you wish to designate how your estate is disbursed upon your death, you probably need a will. Your estate is generally considered to be your money, property and other possessions.

The laws vary considerably from state to state and if you die without a will, the state may decide who gets what, without regard to your wishes or your heirs’ needs.

A will is a legal document that sets forth your wishes regarding the distribution of your property upon your death.  Wills are also the best way to transfer guardianship of minors. A will can also be used to inform people about any other special wishes you would like carried out upon your death.

Also, in your will, you can name your executor, the person who you are designating to make sure that your wishes are carried out as outlined in your will.

You need for a will depends upon your specific circumstances. If you are a young person with no minor children and no assets, a will may not be beneficial to you. If you have minor children and extensive assets, a will may be beneficial to you and also your beneficiaries when you pass away.

If you have a small family with very few assets and you want to leave everything to them, creating a will is to meet your needs is fairly simple. If your situation is more complicated you’ll need to plan more carefully. A will can help make sure that what you leave behind passes to the people you intended.

To maximize the likelihood that your wishes are carried out, you want a will that is set forth in writing, and signed by you and your witnesses with your executor named.

As the laws do vary state by state, you may want to use an attorney to prepare your will to make sure it is legally valid and meets all the requirements set forth by the laws of your state.

 

Gary McDonald Attorney at Law

Gary McDonald is a general practitioner who actively began practicing law in 1979.

 

gary-mcdonald-el-dorado-ar

His practice has included a multitude of subject areas which has resulted in a broad range of experience. He can proudly proclaim a good working knowledge of many areas of the law.

Mr. McDonald is no stranger to the courtroom, having successfully tried cases in the District, Circuit, Appeals and Supreme Courts of Arkansas as well as the U.S. District Courts of
Arkansas and the U.S. Court of Appeals for the Eight Circuit.

Mr. McDonald strives to provide high quality services in a timely manner. He works both on an hourly and contingent fee basis as is allowed by state rule. Mr. McDonald’s regular practice includes the areas of Civil, Personal Injury, Criminal Defense, and Planning For Life, Last Illness & Death.

 

 

Education:
Southern State College, Bachelor of Science, 1975;
University of Arkansas, Juris Doctor, 1978;
Southern Methodist University, Master of Laws., 1979.

Admitted:
1979, Arkansas and U.S. District Court, Western District of Arkansas; 1984.

Memberships:
Union County, Arkansas and American Bar Associations.
American Association of Justice (Formerly the American Trial Lawyers Association)

Martindell Hubbell Peer Rating: Excellent

Mr. McDonald does not charge for an initial fifteen minute consultation.
This consultation will be used to determine if his office can be of service and the best way to proceed.

Mr. McDonald’s goal is to provide the highest quality of legal services in a timely manner.
He welcomes the opportunity to discuss how his office may be of service.

Offices Located in Simmons First Bank Plaza
100 West Grove Suite 308 El Dorado AR
PHONE (870) 862-1498 FAX (870) 862-4071
E-Mail: gary@garymcdonald.net