Many people do not have to think about Medicaid because they get health insurance through their employers, and they know they will qualify for Medicare when they are seniors. This makes sense on the surface, but there is a reason why Medicaid is relevant to just about everyone. In this post, we are going to … [Read More]
Your Estate Plan Should Be Updated Along the Way
A lot of people procrastinate before they put estate plans in place. Going forward, many do not take action to make revisions as things change because a new cycle of procrastination takes hold. This phenomenon applies to known circumstances, and there are people that have outdated estate plans because they are not aware of changes … [Read More]
Alzheimer’s Impact From an Elder Law Perspective
As elder law attorneys, we find that the most pressing matters that we deal with are impacted by Alzheimer’s disease. Though it is a disconcerting prospect, you should be aware of this looming threat when you are making preparations for the future. Deadly and Surprisingly Common Everyone has heard of Alzheimer’s, but a lot of … [Read More]
An Overview of Situational Inheritance Planning
Why should you work with an estate planning lawyer to put a plan in place? This is a broad question, and there are multiple different reasons why professional assistance is invaluable. This being stated, there is one overarching motivation. There is no single approach to the process that is right for everyone. The ideal way … [Read More]
Are Living Trust Distributions Taxable?
People often have questions about how taxes can impact inheritances, and we are going to look at taxation on living trusts in this post. But first, we will provide a general overview that will help you understand some of the benefits that these trusts provide. Simple, Efficient Estate Administration One of the most commonly held … [Read More]
Three Estate Plan Components You May Have Missed
People often think of estate planning as the act of drawing up a will or a trust to state your final wishes. This is definitely at the core of the process, but there are some details that can be overlooked. We will look at three of them in this post. Advance Directives for Health Care … [Read More]
Pandemic Underscores the Need for Advance Directives
Attorneys in our field emphasize the need for incapacity planning, and people generally agree that it is important, but they envision end-of-life scenarios for senior citizens. In reality, this is a shortsighted perspective. COVID Wake-Up Call When the pandemic originally emerged, it took everyone by surprise. Suddenly, people that were getting along just fine were … [Read More]
Aging in Place With the Home and Community-Based Services Waiver
Everyone understands the value of retirement planning, but a lot of people do not see the complete picture. The active retirement years can be full of travel, leisure activities, quality time with your family, and efforts to cross things off your bucket list. This is a great reward for your hard work, but you should … [Read More]
Do You Maintain Control of Assets in a Trust?
There is an inherent challenge from an estate planning perspective with regard to projections for the future. How can you know how much money you will need for the rest of your life? A lot of people do not consider the possibility of using a trust because they assume that you lose control of the … [Read More]
How Do You Leave an Inheritance to Minor Children?
There are multiple asset transfer methods used in the field of estate planning, and sometimes the same one will be appropriate for everyone in the family. This being stated, there are other situations that call for targeted solutions based on the circumstances. Estate planning for minors would fit into this category. You cannot leave a … [Read More]
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