Parham Estate Law

10/18/2026

Estate plans should not be created once and forgotten as families and financial situations change. Michael Parham explains why family changes and tax law changes can be good reasons to review the documents again.

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https://bio.link/michaelparham

10/17/2026

Turning 18 can change a parent's ability to make medical and financial decisions for a child. Before a young adult leaves for college, it can be important to establish health care and financial powers of attorney so trusted people can assist if an emergency occurs. These documents can provide parents and young adults with greater clarity when unexpected situations arise.

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https://bio.link/michaelparham

10/16/2026

Once a child turns 18, parents may no longer have the authority to make medical or financial decisions on the child’s behalf. Healthcare and financial powers of attorney can give trusted people the legal authority to step in when important decisions are needed, making these documents worth considering before a child leaves for college.

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https://bio.link/michaelparham

10/15/2026

The SECURE 2.0 Act pushed the RMD starting age to 73 and eliminated required distributions for Roth 401(k) accounts. Understanding updated federal tax rules helps retirees optimize withdrawals and avoid costly penalties.

The SECURE 2.0 Act made major changes to rules for required minimum distributions (RMDs) — are you up to speed?

10/15/2026

One old pay-on-death designation can change where an entire account goes after someone dies. Michael Parham shares why trying to make things simpler can sometimes create bigger problems for a family.

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https://bio.link/michaelparham

10/14/2026

A pay on death designation can completely change how an account is distributed, even when a will clearly names different beneficiaries. One estate plan intended to leave assets to nieces and nephews, but an old bank designation sent an entire account to someone outside the family. The example shows why beneficiary designations should be reviewed regularly and coordinated with the overall estate plan.

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https://bio.link/michaelparham

10/13/2026

A pay on death designation can completely change where an account goes after someone dies. Even when a will clearly directs assets to family members, a separate beneficiary designation may send the account to someone else. Outdated designations can therefore undermine an estate plan and leave assets going to someone the person never intended to benefit.

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https://bio.link/michaelparham

10/13/2026

A legal power of attorney allows a trusted agent to manage financial or medical decisions if you become incapacitated. Establishing durable powers of attorney early protects your assets and relieves family burden.

https://www.consumerfinance.gov/ask-cfpb/what-is-a-power-of-attorney-poa-en-1149/?

A power of attorney is a legal document that allows someone else to act on your behalf.

10/12/2026

Financial problems can become harder when no one has authority to handle bills, accounts, or tax matters. Michael Parham explains why a financial power of attorney can be one of the most important parts of an estate plan.

Click the bio link to listen to the full episode.
https://bio.link/michaelparham

10/11/2026

A revocable living trust can allow a person to manage their own assets while they are able to do so and establish a plan for what happens if they become unable to manage them or after death. The person who creates the trust often serves as the initial trustee and names a successor trustee who can step in when needed. This structure can provide continuity in managing trust assets during incapacity and after death.

Click the bio link to listen to the full episode.
https://bio.link/michaelparham