Most people associate Estate Planning with the elderly or very wealthy. This article explores situations in which Estate Planning for the young and healthy is advisable. Read on to learn more. [Read More]
What Are the Responsibilities of a Fiduciary?
A fiduciary is an individual or entity that has a legal responsibility to look after the best interests of an engaged party or parties. There are fiduciaries that play a role in the estate planning process, and we will take a look at the subject in this post. Estate Executor When a will is used … [Read More]
Own a Vacation Property? You Need a Living Trust
If you have the means, an out-of-state vacation home can enhance your life. You and your family and friends can relax, unwind, and have fun together when you have the opportunity, and you are making a good investment that can yield financial dividends. At the same time, there is an estate planning consideration, and we … [Read More]
Does Medicare Cover Long-Term Care?
You qualify for Medicare and Social Security through the accrual of retirement credits. This year, you get one credit for every $1470 that you earn, so everyone that works consistently will get four credits each year. After you have accumulated a total of 40 credits, you will qualify for these programs when you reach the … [Read More]
Can You Use a Transfer on Death Account to Avoid Probate?
You should have a general understanding of the estate administration process when you are engaged in your estate planning efforts. Most people think that they should use a will to facilitate asset transfers, but there are reasons why you may want to go in a different direction. A will is admitted to probate, which is … [Read More]
Estate Plan Revisions May Be Necessary
When you put your initial estate plan in place, it should be viewed as a starting point. You are covering your bases in the present, but things will invariably change as the years pass. Family Evolution An estate plan for a relatively young, single adult is usually going to be simple and straightforward since there … [Read More]
These Simple Actions Will Jumpstart the Estate Planning Process
A lot of people that do not have estate plans in place know that it is a responsibility that they should address, but they do not know how to begin in earnest. As a result, they continue to procrastinate, and their families are at risk. With this in mind, we will share three relatively easy … [Read More]
Will Medicaid Count My Life Insurance?
As elder law attorneys, we have to pass along an inconvenient truth about long-term care costs. All of your life, you do not want to qualify for Medicaid because the program is only available to people with a significant level of financial need. With this in mind, when you hear the term “Medicaid planning,” you … [Read More]
Jim Morrison Estate Planning Mistake Remembered on Anniversary
There are few if any figures from the classic rock era that are more iconic than Doors lead singer Jim Morrison. He was a hard living wild child, and he could never find inner peace. Ultimately, he passed away in Paris, France from an apparent drug overdose. This was on July 3, 1971, so the … [Read More]
Per Capita vs. Per Stirpes Bequests: What’s the Difference?
There are some Latin terms used in the legal field to describe certain processes, and you will see them in wills and trusts. In this post, we will look at the terms per capita and per stirpes as they apply to beneficiary succession. Death of a Beneficiary If a person that you have named as … [Read More]
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