When you have your finger on the pulse of the elder law issues of the day, one of things that really gets your attention is the rising cost of long-term care. According to the annual MetLife Mature Market Institute survey for 2010, the average cost for a year in a private room in a nursing … [Read More]
Inheritance Planning & Asset Protection
Asset protection is an important consideration when you’re engaged in the process of inheritance planning. In this context we are talking about asset protection as it pertains to the people who will be receiving inheritances from you. Asset protection involves taking steps to make it impossible for claimants to pursue funds that you want to … [Read More]
The Whys Of Probate Avoidance
One of the terms that you will hear mentioned a lot when you begin to look into the subject of estate planning is “probate.” Probate is the legal process that your estate must pass through, and during this interim the validity of the will is determined by the probate or surrogate court. If the will … [Read More]
Trusts, Pour-Over Wills, & Your Estate
One of the reasons why it is important to retain the services of an experienced estate planning attorney when you get serious about planning for the future is because of the fact that the typical layperson would have no reason to have an understanding of all the different vehicles of asset transfer that are available. … [Read More]
Springing Powers Of Attorney
Many people who visit an estate planning attorney to make preparations for the distribution of assets to their loved ones after death also want to develop a comprehensive end-of-life plan. It is not a subject that most individuals are very anxious to think about, but few of us pass away peacefully in our sleep one … [Read More]
A QPRT Can Keep The House In The Family
When you are planning your estate you may find that like many people, your home is the single biggest asset that you have. Home ownership has long been the key to wealth building in the United States, and your house may well have appreciated quite a bit since you first purchased it three or four … [Read More]
A Look At Special Needs Planning
When you are engaged in estate planning you have to consider the optimization of your assets as you plan for their ultimate transfer to your loved ones. This is familiar territory for most people because this type of activity resembles the financial planning that you have engaged in all of your life. However, in addition … [Read More]
The Living Will Explained
If you are one of the many who has never given estate planning a whole lot of thought the term probably conjures images in your mind of the classic estate planning document that you hear people talk about in the old movies: the “last will and testament.” Most people are aware of the fact that … [Read More]
Elder Financial Abuse Is Growing Cause For Concern
Estate planning is one important aspect of the area of elder law, and the fact is that there are many elder law issues emerging at this time due to the explosion of the senior population. The mainstream media has been reporting that there are some 10,000 new applicants for Social Security each day due to … [Read More]
Reducing Estate Tax Exposure
As a result of the passage of the new Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 there are new estate tax parameters in place. The estate tax was repealed for 2010, but in 2009 the exclusion was $3.5 million and the maximum rate of the tax was 45%. In what was … [Read More]
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