Gabb Morrison LLP

My wise German paternal grandfather taught me many life lessons, proverbs and anecdotes, but especially that there are THREE sides to every story: 1) side A, 2) side B, and 3) THE TRUTH.

All this turmoil with Dolly Parton's estate and her nephew is just so sad and you can bet that nothing we are hearing is actually the whole truth and nuthin' but the truth!

Death, greed, money and FAMILY...it's a toxic mix and as estate attorneys we surely try to handle all the contingencies, but you just never know.

I'm a huge Dolly fan and there's a great song of hers called "Family" in the comments if you want to listen. Here are the lyrics:

FAMILY:
When it's family, you forgive them
For they know not what they do
When it's family, you accept them
'Cause you have no choice but to
When it's family, they're a mirror
Of the worst and best in you
And they always put you to the test
And you always try to do your best
And just pray for God to do the rest
When it's family
Some are preachers, some are gay
Some are addicts, drunks and strays
But not a one is turned away
When it's family
Some are lucky, others ain't
Some are fighters, others faint
Winners, losers, sinners, saints
It's all family
And when it's family, you trust them
And your heart's an open door
When it's family, you tolerate
What you'd kill others for
When it's family, you love and hate
And take then give some more
Somehow you justify mistakes
Try to find some better way
To solve the problems day to day
In the family
You take the trouble as it comes
And love 'em more than anyone
Good or bad or indifferent
It's still family
You choose your lovers
You pick your friends
Not the family that you're in
They'll be with you 'til the end
'Cause it's family
When it's family, you forgive them
For they know not what they do
When it's family, they're a mirror
Of the worst and best in you
When it's family, when it's family
Let me be all that I should be
To the family

You have to take the bad with the good sometimes - and especially when it comes to SUCCESSIONS (probates)!

I can't tell you how many times clients think they don't have to pay their parents' (or spouses') DEBTS (like credit cards and other bills) from the Succession but they sure do want all the assets (like the house, cars and accounts). If I had a dollar for every time a client told me "but that's not MY debt" and I'm like "yeah and it wasn't YOUR house either"!

This is why many times we urge clients to OPEN the Succession Under an Independent Administration first to determine what EXACTLY is the good and the bad. And guess what? If the bad outweighs the good then you are under NO OBLIGATION whatsoever to "accept" the succession. In my opinion too many times people RUSH to get the Succession completed without knowing what all the debts and assets are. Once you accept a succession and get placed into possession of the property YOU NOW OWN IT AND HAVE PERSONAL LIABILITY instead of being personally "shielded" from that liability when it still remains in the estate.

Take your time, figuring these things out sometimes takes a few months. That's why most of our Wills have a 90-day survivorship clause to give you time to gather together ALL THE GOOD and ALL THE BAD. Once you close out a Succession and have the Judgment of Possession rendered it's time consuming AND expensive to have to correct it!

Remember that old song from the 80s show "The Facts of Life":
"You take the good, you take the bad, you take them both and there you have the facts of life!"

Clarification of one of the Eligible Designated Beneficiary (EDB) classifications. People get confused by the "no more than 10 years younger" rule. If a BENEFICIARY is OLDER than the deceased OWNER then they are indeed an EDB and DO NOT fall under the 10-year rule - they may pull out over their own single life expectancy table.

Just a reminder because all of the IRS "free passes" on this have expired last year...if you INHERITED an IRA from someone who died in 2020, or after, and they were already taking their RMDs (required minimum distributions) then IN ADDITION to you having to completely deplete that account by December 31st in the 10th year following their death YOU MUST ALSO BE TAKING RMDs annually too! These RMDs do NOT apply to an inherited ROTH IRA.

There is a 25% excise tax penalty on the RMD you failed to take (hey, it used to be 50%). This is what the IRS was waiving from 2020-2025 because the implementation rules kept changing, but now there no more free passes!

NEVER move an INHERITED IRA into your own IRA because it will ALL become immediately income taxable to you! You must always see the decedent's name in the inherited IRA for your benefit. You will set up a NEW INHERITED IRA titled something like this:
JOHN DOE (deceased 05/01/2026) IRA F/B/O SALLY DOE, Beneficiary. Then you should do a direct "Custodian to Custodian" transfer of the funds from the deceased's former IRA account holder to your new INHERITED IRA account holder.

***NOTE: THE 10-YEAR PULL OUT RULE DOES NOT APPLY TO ELIGIBLE DESIGNATED BENEFICIARIES (EDB). EDB are 1) spouses, 2) minor children, 3) disabled beneficiary, 4) chronically ill beneficiary, 5) beneficiary not more than 10 years younger.

Be sure you are working with advisors who know what they are doing here because there really is no room for error when it comes to these Inherited IRAs and the IRS.

Here is a neat little Social Security hack you don't see used very often. Client was 62 years old and lost her job. COBRA only helped pay her health care benefits for 18 months so client was afraid she would not have enough income to pay the HUGE health insurance premiums until she reached age 65 and qualified for MEDICARE. One year passed and she was batting ZERO in job offers (she didn't choose to retire yet, she was laid off) so she decided to go ahead and file for her social security (SS) payments. Well, about 6 months after that (right around when COBRA was ending) one of those previous job applications hit paydirt and offered her a darn good position, complete with a nice salary and great benefits. She was kicking herself for filing for her SS benefits too early and being stuck receiving about HALF of what she would have received had she "delayed" those SS payments until age 70. She was shocked to learn that there was a solution!

She actually could CANCEL her benefits and WITHDRAW her application. This can only be done ONCE and it MUST be done within ONE YEAR of your benefits approval. You must pay back EVERYTHING that Social Security paid out on your (and your family's) behalf (however there are no penalties or interest) but it puts you right back to square one as if you never applied! This client now has the opportunity to either wait until age 70 for her "delayed" SS payment (which really is twice what her check was) or wait until age 67 to receive her "full" amount (which was about 55% more).

Again, this is why when people ask us if "all we do" is estate planning we say do you see why it’s so much more than just drafting a Will!

If you, or someone you know, is in this "one year" window and you think they may want to check this out I have a link in the comments to the Social Security "Withdrawal" application.

For families who have been struggling with Alzheimer’s for years, finding hope can be difficult. But our friend Bonnie Dinkel, a passionate advocate for Alzheimer’s care and research, is giving us a powerful reason to be “Hopeful in My Lifetime.”

Bonnie is urging support for the bipartisan Alzheimer’s Early Detection Act, which would expand Medicare coverage for blood-based testing that can detect biomarkers associated with Alzheimer’s disease.

Why does this matter? Because earlier detection can mean earlier treatment. With new medications now available that may slow the progression of Alzheimer’s for some patients, knowing sooner could make an enormous difference.

Bonnie compares this moment to a turning point in the fight against breast cancer. In 1991, Congress mandated Medicare coverage for mammograms. Today, screening is widely available, cancers are being detected earlier, and the five-year survival rate for localized breast cancer is approximately 99%.

Could we be approaching a similar turning point with Alzheimer’s?

Bonnie believes we can—and she’s asking all of us to help.

Read Bonnie’s story, support her advocacy, and join our Walk to End Alzheimer’s team.

https://act.alz.org/site/TR/Walk2026/LA-Louisiana?pg=personal&px=22623687&fr_id=19657

We’re walking with hope for every family affected by this disease—and with the belief that meaningful change can happen in our lifetime.

HOPEFUL in My Lifetime.

I just learned that 24-hour at home sitter care from a local provider (meaning not California rates!) is now $285,000 a year! Not surprisingly, those rates have gone up as much as gas and groceries! Are you ready? If you are still healthy, maybe now is the time to look into some options to help fund your care because from the looks of this article, it's NOT going to be your kids!
https://www.msn.com/en-us/lifestyle/other/millennials-say-they-ll-refuse-to-care-for-aging-boomer-parents-but-they-ll-be-forced-to-as-their-inheritance-shrinks-to-40-cents-on-the-dollar/ar-AA297jom?ocid=entnewsntp&pc=U531&cvid=6a6ccbfd0e3d4954a484f7098f3f1ecf&ei=18&fbclid=IwY2xjawTZrqZleHRuA2FlbQIxMQBzcnRjBmFwcF9pZBAyMjIwMzkxNzg4MjAwODkyAAEeLxVBWlnkowrETM8UCzx_unfAelhG4eoctrx-MNCVaDXNX5juLgIZ9H070kA_aem_fHjcbdEjDyq_6OB_uXwLfA

Millennials say they’ll refuse to care for aging boomer parents but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar The oldest boomers are starting to turn 80, but the great wealth transfer isn’t materializing as promised.

One of the most-asked questions we get: "Should I add my child's name to my accounts?" After reading this, you decide. Full text of article below:

The Keys to the Castle

“Should I add my child’s name to my account(s)”? The answer is “it depends.” Giving the kids the keys to the castle while you are still alive and competent is a tough decision. This article gives you the pros and cons, so that you can make an informed decision.
It makes sense why you may want to do this: to allow your child instantaneous access to your BANK account(s) without having to go through cumbersome legal channels upon your death or disability. Your child may easily access the proceeds while you are alive, but also upon your death as the account would not be “frozen” as long as there is another “co-owner”.

Sounds great right? Well…maybe. Any co-owner may withdraw all of the funds at any time, without the permission of the other co-owner(s). While most of you will say that you trust your child implicitly and the foregoing is not a concern, can you guarantee that your child will not:

1) Predecease you, and perhaps their heirs would try to claim these assets through your deceased child’s estate?
2) File for divorce, and their spouse tries to claim these as marital assets?
3) File for bankruptcy?
4) Get sued (for any number of reasons)?
5) Become ill and need to qualify for Medicaid (or any other asset-based programs, like school loans/grants, etc.) and now these assets may disqualify them?

Do you still think it’s a good idea? If the above causes you concern, and it should, think about these options:

 Maybe add your child(ren) to only one account that doesn’t keep a very large balance, as you can always transfer funds from another account if needed.

 Create a trust (either revocable or irrevocable) to own your assets and name your child(ren) as co-trustees (who may act independently) instead of co-owners, with none of the above liabilities, but all the access.

Also, be sure you have a comprehensive and up-to-date general financial power of attorney (POA) in place. Many of the brokerage firms now have their very own POA forms which I highly recommend you fill out, in addition to your general POA (because it has already been pre-approved by their legal department). If the time comes when you are unable to handle your affairs, your child has already been named as Agent under your POA, and can access these assets. In this case, just like being a Trustee, your assets are not at risk from your child’s estate, spouse, or creditors.

But remember, a POA ends upon your death, so go to your bank and add your child(ren) as “Payable on Death” (POD) beneficiaries to your accounts. (Most banks and credit unions offer this.) Now, upon your death, your children only need to provide the bank with your death certificate in order to claim the funds in this account.
Caveat: “co-ownership” with your child(ren) should almost never apply to brokerage accounts because that account becomes frozen when any owner dies, then the account must go through their probate/succession. What if your child’s Last Will leaves all their assets to their spouse? You legally just lost half of your account to your child’s spouse! You also lose the benefit of the full step-up in basis upon your death because you only owned half (or less) of that account.

The one asset that should be co-owned with a child (if not owned by your trust) is your safe deposit box. This asset needs to be accessed quickly post-death, especially if this is where your Last Will and Testament, life insurance policies, burial plans and cemetery deeds are stored. Unfortunately, we have had to open quite a few successions that were not necessary except for a safe deposit box where a child was merely a signatory on the box and not a co-owner. Please be sure and verify with your bank now that your child will have post-death access.

Now it’s up to you to decide if it’s time to give your kids a set of keys to the castle!

CREMATION NATION! Here is an article I wrote 3 years ago, truly everything is the same (except prices went up). If the funeral homes' prices listed on their websites (as of today) are accurate, for a direct cremation (using the funeral home's provided box) you have two Covington funeral homes whose prices are drastically different: Bagnell (who we used for my own mom) is $1,495 and Fielding is $3,495. I think this is just a glaring example of doing your homework and shopping around.

It seems like these days many folks who are doing direct cremations are having their "Celebrations of Life" elsewhere, as opposed to inside traditional funeral homes. If you followed me and my "Jackie's Journey" posts, you know that my mother's "Celebration of Life" was at the Tammany Yacht Club in Slidell. It was a fabulous party with ch*****ne and caviar, exactly like my Queen requested. When people live to a ripe old age, WHY NOT? It is indeed a Celebration of a Life Well-Lived and Well-Loved.

While this surely isn't a good trend for funeral homes (just like the HUGE rise in cremations), I think what it may wind up doing in time is increasing the cost of everything, especially direct cremations! Ahh...but that is for another article and another day.

Here is the actual text of the article for easier reading:

Cremation Nation by Ronda M Gabb

In 1979, only 5% of Americans chose to be cremated. That figure rose to over 56% in 2020, and it is projected that by 2035, almost 80% of us will choose cremation over either burial or medical donation. So yes, that definitely makes us a “Cremation Nation!”
There are many factors which attribute to this rise in popularity. Probably first and foremost, is economics. “Direct” cremations, meaning cremation only with no other services, are about one-quarter the cost of a traditional funeral. In our local area, I was surprised that the most inexpensive direct cremation was only $1,395 compared to the most expensive one being more than double that amount at $2,895. Check out PARTING.COM for local prices.

Another reason is demographics. Families move around now more than ever and are sometimes hesitant to “commit” to purchasing plots and crypts with a particular cemetery until permanent retirement roots are laid, and even then we see folks move again to be closer to kids and grandkids as they age. You have to admit, cremains are certainly easier to move than a casket!

The drastic changes in religious doctrines have also had an impact. In the past, many religions frowned upon cremation, where now most religions allow it. The first U.S. crematorium was opened in 1876 by Francis LeMoyne in Lancaster, Pennsylvania, and it was severely criticized by the Catholic church. But in 1963, Pope Paul VI lifted the ban on cremation, and by 1997 Catholics allowed the ashes to be present at the funeral Mass. However, the Catholic religion does not allow the scattering, separating, or co-mingling of the ashes; they must be kept intact and placed in a hallowed place (e.g. not on your mantel).

Burials at sea are interesting and even involve the government! For example, you must be more than three nautical miles from shore and you must report the burial to the EPA within 30 days after the burial. You’re also NOT supposed to dump Fido’s cremains in the sea with his owner (human remains only). For more information visit: epa.gov/ocean-dumping/burial-sea. Interestingly, while the Catholic religion does not allow the ashes to be scattered at sea, a burial at sea is allowed (along with a special prayer) as long as the container, made to keep the ashes intact, is dropped to the bottom of the sea.

I wonder if the religious aspect is why the South (which tends to be more religious) has the lowest cremation rates in the nation. In Mississippi only 27.9% are cremated, followed by 32.6% in Alabama, and 37.1% in Louisiana. The highest cremation states are Nevada at 80%, Oregon at 78.9% and Washington at 76.7%. The lowest is Utah because cremation is frowned upon in the Mormon religion.

Louisiana has some very strict laws regarding cremation. If you have made no prior legal arrangements, and you wish to be cremated, your spouse must agree to the cremation. If you have no spouse, then a majority of your adult children must agree. If you have no spouse or living children, then it goes down to your adult grandchildren, if none, then to your parents, then to your siblings. If there are none of the aforementioned, then your closest adult relatives would have to approve the cremation. So what happens if we can’t get a majority? Then off to Court we go, as we need a Judge’s Order. Who wants that expense and heartache at such a difficult time?

Specifying your desire to be cremated in a notarized Last Will and Testament can avoid these approvals. We always encourage our clients to openly and actively discuss their funeral arrangements with their family and loved ones. We spend a great deal of time with clients to assure that their final wishes will be honored, in light of so many clients wishing to be cremated.

If you don’t have a notarized Last Will, then you can execute a “Declaration of Burial Desires.” This is a legal document where you designate an “authorized agent” to carry out your wishes for cremation, burial, and funeral. You must keep your agent informed of your wishes, including interment or inurnment. To be compliant with our law, this Declaration must be notarized.

Now you know how to join the Cremation Nation!