There are many different trusts that can be used when you are devising your estate plan. A layperson would have no reason to understand all the options that exist, and this is why legal counsel is invaluable. We endeavor to explain the various devices that can be utilized, and in this post, we will demystify … [Read More]
Proper Planning Can Prevent a Conservatorship
The process of estate planning should be viewed in a holistic manner. Yes, you want to make sure that your loved ones receive their inheritances when the time comes, but you should also consider end-of-life eventualities. Anticipated Longevity It can be difficult to imagine a time when you will be unable to handle all of … [Read More]
The Tax Man Cometh: Adjust Your Estate Plan Now
The pandemic has forced many people to put some non-essential responsibilities on the back burner. This holding pattern may apply to your periodic estate plan review, but it is now time for action. If you know that a revision is necessary because of a life change, we are here to help, and general reviews are … [Read More]
Does Medicaid Seize Remaining Assets in a Special Needs Trust?
The majority of people in the United States get their health insurance through their employer provided plans. Unfortunately, a high percentage of people with disabilities are not in a position to hold jobs, so this is not an option for them. Everyone needs health insurance, but it is especially important for these folks, so the … [Read More]
What Happens to Assets Outside of My Living Trust?
A living trust is a highly effective estate planning tool that can be the ideal asset transfer vehicle. When you establish a living trust, it is important to fund the trust right away, because it serves no purpose if the assets that comprise your estate have not been conveyed into the trust. All different types … [Read More]
Medicaid Planning 101
It is natural to assume that your health insurance needs will be satisfied for life after you qualify for Medicare coverage. Unfortunately, there is a significant expense that most senior citizens will face that is not covered by the program. Medicare will not pay for a stay in a nursing home, and it doesn’t cover … [Read More]
Securing a Strong Retirement Act Clears First Hurdle
A post that we shared a number of weeks ago highlighted a piece of legislation that was introduced into the House of Representatives. It was being called SECURE Act 2.0 because it is an expansion of changes that have already been implemented via the SECURE Act. The first measure was enacted in December of 2019, … [Read More]
This Veterans Benefit Can Defray Long-Term Care Expenses
When you are planning ahead for your senior years, you should anticipate some significant expenses that are lurking over the horizon. According to the United States Department of Health and Human Services, 52 percent of seniors will need some type of paid long-term care. Over one third of them will reside in nursing homes, and … [Read More]
Three Tips to Jump-Start Your Estate Planning Efforts
A lot of people that know they should put an estate plan in place drag their feet because they have certain unanswered questions in their minds. In this post, we are going to share three tips that will help to demystify the process. Taxation may not be a problem. It is natural to assume that … [Read More]
Elder Care: Evolved Thinking Can Preserve Your Legacy
When you look back on your life, you invariably recognize the fact that you would act differently in some ways if you could consult with your future self. Indeed, it is said that experience is something that you get right after you need it. How can you be prepared for a situation that you have … [Read More]
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