While a Last Will and Testament remains the most commonly used estate planning tool, a trust is not far behind in terms of popularity. Trusts are frequently included in a comprehensive estate plan for a wide variety of reasons, including the fact that a trust can help your estate avoid probate. Can a trust help avoid challenges to your estate though? The Westport trust attorneys at Nirenstein, Horowitz & Associates, P.C. discuss the possibility of contesting a trust. Trust Basics A trust … [Read more...]
What Is the Medicaid Community Spouse Resource Allowance?
Although we all enjoy a much longer average life expectancy in the United States than our ancestors did a century ago, the natural aging process will catch up to us at some point. Physical and/or mental deterioration may, at some point, lead to the need for long-term care. That, in turn, may lead to the need to qualify for Medicaid to help pay for the high cost of long-term care. One of your concerns about turning to Medicaid for help may be the perceived impact relying on Medicaid will have on … [Read more...]
What Is the Purpose of a QTIP Trust?
To create a successful estate plan, you must first consider your unique needs and goals. For example, if you are part of a blended family, your needs and goals will likely not be the same as they were during your first marriage. Now, you may be trying to provide for your current spouse while simultaneously protecting assets that are meant for your children from a previous marriage. One common estate planning tool that is used to accomplish both of those goals is a specialized type of trust known … [Read more...]
What Everyone Needs to Know about Alzheimer’s Disease
As the population of older Americans continues to grow at a historic rate, issues that impact the elderly are now taking center stage in the American conscious. One of the most worrisome of those issues is the Alzheimer’s crisis. Whether you are nearing your “Golden Years” yourself, or you have a loved one who is, you need to understand Alzheimer’s disease. The Glastonbury elder law attorneys at Nirenstein, Horowitz & Associates, P.C. explain what everyone needs to know about Alzheimer’s … [Read more...]
Tips for the First-Time Trustee
Finding out that someone appointed you to be the Trustee of a trust can be an overwhelming experience – particularly if you have never before served as a Trustee. The creator of trust had enough faith in you to appoint you to the position of Trustee. To help ensure that you live up to those expectations, the Glastonbury trust attorneys at Nirenstein, Horowitz & Associates, P.C. offer some tips for the first-time Trustee. What a Trustee Needs to Know about Trusts Before discussing your role … [Read more...]
What Type of Will Do I Need?
You probably already know that a Last Will and Testament is typically the first estate planning document people execute when creating an estate plan. You also likely have a fairly good idea what a Will is and what purpose it serves within your estate plan. What you may not know, however, is that not all Wills are the same. In fact, there are several different types of Wills from which to choose when creating your estate plan. Knowing which one is right for you is the key to getting your estate … [Read more...]
Opioids and Elder Abuse
You undoubtedly know about the opioid crisis in the United States. You may also know that the population of older adults (age 65 and older) in the U.S. is increasing at a rate never before experienced in this country. What you may not know is that the two are related to each other. A recently published article by the University of Southern California Center on Elder Mistreatment explains the correlation between the growth of the senior population and the opioid crisis in the U.S. The Westport … [Read more...]
What Is the Difference between Estate Planning and Legacy Planning?
Most people are familiar with the concept of estate planning; however, “legacy planning” may be a concept that is new to you. Legacy planning allows you to do more than just pass down your material wealth. It allows you to pass down the intangible characteristics that make you who you are. To help you better understand the concept, the Westport legacy planning attorneys at Nirenstein, Horowitz & Associates, P.C. explain the difference between legacy planning and estate planning. Estate … [Read more...]
How Do I Apply for Medicaid in Connecticut?
Are you a senior who suddenly finds the need to apply for Medicaid? If so, you are not alone. The high cost of long-term care often causes seniors who have never before needed to rely on Medicaid to turn to the program for help. If you find yourself in just such a position, the Glastonbury Medicaid planning attorneys at Nirenstein, Horowitz & Associates, P.C. explain how to apply for Medicaid in Connecticut. Why Would I Need to Qualify for Medicaid as a Senior? First, it helps to … [Read more...]
Clarity is Key to Planning
Clarity is essential in an estate plan. This article examines the case of Tom Petty, what he did right and what he did wrong. It shows that clarity can avoid problems later.Clarity is Key to Planning … [Read more...]
