There are many different ways to facilitate asset transfers when you are planning your estate. The best way to provide for one person on your list may not be ideal for the next. It is possible to be flexible and create a plan that is tailor-made to suit your specific family dynamic. With this in … [Read More]
Elder Law Alert: Medicaid Should Be On Your Radar
In addition to the out-of-pocket expenses that you have to pay for Medicare-covered health care treatments and visits, there is one void in the coverage that is a very big deal. If you require living assistance as a senior, Medicare will not help with the expenses. This is the most pressing elder law issue that … [Read More]
Your Estate Plan Should Suit Your Specific Needs
A lot of people think that an estate plan is limited in scope. You cut up slices of a pie via the terms of a will, and the rest will take care of itself after you pass away. The idea is that there is a generic way to proceed, and that’s the end of the … [Read More]
Estate Planning for the Millennial Generation
The vast majority of adults in the United States do not have estate plans in place. As you would expect, estate planning for the millennial generation is not widely embraced, but it doesn’t stop there. Caring.com has been conducting surveys on an annual basis to measure the estate planning preparedness of Americans. According to the … [Read More]
Veterans Pension Can Give Wartime Vets a Boost
As elder law attorneys, we have a thorough understanding of government benefits for seniors, and this includes veterans. Most people have heard of the retirement pension that career service members can receive after 20 years of service. The amount that you would receive will increase if you stay in the service for longer periods. This … [Read More]
How Does a Life Estate Work?
When you are planning your estate, there are a number of different methods that you can utilize to facilitate asset transfers after you are gone. One possibility is the life estate, and we will explain the positives and the negatives in this post. Real Property Transfers You can potentially use a life estate to arrange … [Read More]
Consider the Benefits of Aging in Place With a Medicaid Waiver
After the active retirement years start to wane, life for seniors will take on a different complexion. Living assistance may be necessary, and there is a concept called “aging in place” that you should understand when you are looking ahead to the future. Modification of Living Spaces It can be difficult to accept the limitations … [Read More]
Home Values Can Lead to Estate Tax Liability
It is a good feeling to watch your home go up in value, and in some areas, the prices have dramatically increased over the last decade. This is a great development for homeowners and savvy investors, but it can lead to estate tax liability. Federal Estate Tax Your real property is part of your estate … [Read More]
Does an Inheritor Pay Capital Gains Taxes on Appreciated Assets?
We are going to look at the guidelines for capital gains taxes on an inheritor in this post. But before we focus on that subject, we will provide a general overview of taxation as it applies to your estate. State and Federal Income Taxes Since the taxman always wants a piece of the pie, a … [Read More]
Are There Different Types of Wills?
A lot of people are not aware of the fact that numerous documents can be used when you are planning your estate. Variations of trusts abound, and there are also different types of wills, and we will look at them in this post. Simple Will The estate planning document that most people have heard of … [Read More]
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