A lot of people that are unprepared from an estate planning perspective know that it is important. Many of them state that they are frozen with inaction because they simply do not know where to begin. This is understandable, and in this post, we will provide some basic facts to consider when you are thinking … [Read More]
Your Estate Plan Should Be Tailored to Suit Your Needs
A lot of people have misconceptions about estate planning. They think that your choices are limited, and everyone involved will be required to adjust. The idea is that you pass along your assets in a will, and everyone is on their own after they receive their inheritances. Many of these folks assume that trusts are … [Read More]
Can a Homeowner Qualify for Medicaid to Pay for Nursing Home Care?
Wealth preservation is key, because significant expenses late in your life could damage your legacy. Unfortunately, there is an unpleasant truth that you should face head-on when you are planning your estate. Long-Term Care The majority of senior citizens will need help with their activities of daily living eventually, and a significant percentage of them … [Read More]
Four Reasons to Steer Clear of DIY Wills
There are websites that sell generic, boilerplate legal documents, including DIY wills. Their marketing material makes it sound like it is easy for anyone to plan their own estate using DIY tools that can be purchased online. Since so many people put estate planning on the back burner, this can sound like a simple solution, … [Read More]
These Celebrity Estate Planning Mistakes Can Be Instructive
Over the years, celebrities have made estate planning mistakes that have yielded negative consequences. These scenarios can be instructive for others, because you see a practical example of the way things can go awry if you don’t take the right steps in advance. Let’s look at three of these situations that provide valuable insight. Former … [Read More]
Top 5 Reasons for Estate Planning Unpreparedness
Two out of three American adults are unprepared from an estate planning perspective, and this is not confined to younger people. Less than half of individuals that are 55 years of age and older have estate plans in place. Why do they ignore an event that is one of the certainties of life? In this … [Read More]
Planning Considerations for Small Business Owners
When you are the owner of a small business, your long-term planning goals will coincide with those of people that are not self-employed. Many of the same steps should be taken, but business owners have some additional considerations, and we will look at two of them here. Asset Protection It is important to protect the … [Read More]
What Are the Medicaid Rules for Healthy Spouse Income?
Medicaid is relevant to senior citizens that will qualify for Medicare because Medicare does not cover long-term custodial care. This is the type of care that you would receive in a nursing home, and there are in-home caregivers that provide custodial care for seniors. Of course, Medicaid is a need-based program. In Connecticut, you cannot … [Read More]
Estate Planning: Keep It Simple
The vast majority of American adults do not have estate plans in place, even though most people that are surveyed feel that inheritance planning is important. Why do they fail to take action if they know that this is a responsibility that should be addressed? There are a variety of different answers to this question, … [Read More]
Is There a Person With Special Needs on Your Inheritance List?
There are different ways that you can facilitate asset transfers to the people on your inheritance list. The right way to proceed will depend on the circumstances. Plus, you don’t have to provide for everyone in the same manner. Targeted solutions can be implemented to address the life situation of each respective person. With this … [Read More]
( By appointment only )