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]
Five Overlooked Benefits Living Trusts Provide
There are a few major benefits that living trusts provide that are widely publicized. One of them is the fact that the administration of a living trust takes place outside of probate. A will would be admitted to probate, and there are some negatives that go along with the process. Probate expenses absorb a portion … [Read More]
Estate Planning for Generation Y
Millennials are part of Generation Y, and at this point, they are between 25 and 40 years of age. Less than 30 percent of people in this age group have estate plans in place according to a survey that was conducted by Caring.com. The unprepared individuals are taking risks, and it is one thing if … [Read More]
Engage an Attorney During the Living Trust Administration Phase
If you look at a simple will next to a revocable living trust, you will see that there is really no comparison. A living trust is more effective on a number of different levels, and we will provide an overview before we focus on the importance of legal counsel. Living Trust Benefits When a will … [Read More]
Has Your Property Appreciated? Estate Taxes May Be a Factor
Housing prices have been the talk of the investment community over recent years. Buyers are having a hard time closing deals because of a supply and demand dilemma. In some areas, people are actually offering significantly more than sellers are asking, so this is bull market. We have an office in Westport. In Fairfield County, … [Read More]
Medicaid Answers: Can a Spouse Keep a Beneficiary’s Income?
The Medicaid program may be the furthest thing from your mind if you have health insurance through your employer or Medicare. However, at some point in your life, you may be very interested in the Medicaid eligibility parameters. We are going to answer a particular question that is asked about Medicaid in this post, but … [Read More]
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