For most people, thinking about estate planning means focusing on what will happen to their money after they pass away. Death and taxes! But that misses one pretty significant consideration: the need for estate planning for long-term care. The last thing any of us...
The beginning of a new year is a good time to take a look at your estate plan to make sure it is up to date. Less than half of people in the US actually have any estate planning documents in place and many of those people may have outdated documents. Documents that...
How to Protect Your Heirs and Your Legacy from Bad Decisions and Outside Influences Estate planning is an important and everlasting gift you can give your family. And setting up a smooth inheritance to protect your heirs isn’t as hard as you might think. –...
In recent years many non-lawyers have started businesses offering Medicaid planning services to seniors as an alternative to Medicaid planning lawyers. While using one of these services may be seem to be cheaper than hiring Medicaid planning lawyers, the overall costs...
The benefits of a highly detailed, comprehensive power of attorney are numerous. Unfortunately, many powers of attorney are more general in nature and can actually cause more problems than they solve, especially for our senior population. This post highlights the...
A once-popular, and almost universally used, estate planning tool for those with estates subject to the estate tax, may now cost families more in taxes, income and estate, than it saves. Changes in the estate tax law have made the “by-pass trust” a less...
What Are Beneficiary Designations or Transfer on Death Designations? Many people use beneficiary designations as an alternative to doing proper estate planning. Why not? It’s quick and easy! It avoids probate! It allows you to rest easy that you have provided...
The cost of long term care continues to rise, even if slightly for 2016 compared to 2015. The median cost of a private nursing home room in the United States has increased slightly to $92,378 a year, up 1.24 percent from 2015, according to Genworth’s 2016 Cost...
What is National Elder Law Month? May is National Elder Law Month. This designation was established by the National Academy of Elder Law Attorneys (NAELA) as a way to acknowledge the profession that supports the senior community with all of their planning needs....
The famed recording artist Prince died leaving an unknown fortune and possibly no will or estate plan to dictate what to do with that fortune. Prince’s sister, Tyka Nelson, told the probate court in the Minnesota county where Prince lived that her brother did...
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