Milestones


Life is full of exciting and important events that shape the future of both ourselves and our loved ones. Make sure you’re prepared for life’s milestones every step of the way with the proper legal guidance and counsel to prevent any burdens or struggles down the road. If you’re curious or worried about your next steps, please contact us with any questions or concerns you may have.

 

Bregman Lantz LLC - Elder Law Estate and Trust Planning - Milestones

Birth of a Child or Grandchild

The birth of a child or grandchild is an exciting moment in life. It also marks a great opportunity to create or update your Will or Trust, and to start exploring estate planning, including college education funds and gifting strategies.

Bregman Lantz LLC - Elder Law Estate and Trust Planning

Starting & Graduating College

If your child is entering or graduating college, you should be exploring your estate planning options, such as whether or not to include them in partnerships or corporations. It’s also a good idea to review your existing trust distribution ages, and to explore a Power of Attorney to grant you access to education records and student loan account information.

Bregman Lantz LLC - Elder Law Estate and Trust Planning

Marriage

Before getting married, it’s usually a good idea to explore the benefits of a prenuptial agreement with your spouse. It also usually means you should make adjustments and changes to your will and trust, grant Power of Attorney and Healthcare POA, and prepare a Living Will (if you haven’t done so already).

Bregman Lantz LLC - Elder Law Estate and Trust Planning

Mid-Life

It’s often advised to review and revise your will, Power of Attorney, and Healthcare Power of Attorney sometime between your 40s and retirement. It’s also a great time to set up Estate Planning and Trust Planning strategies, including gifting, asset protection, estate tax avoidance, and setting up irrevocable life insurance trusts, Grantor trusts, Crummey trusts, Charitable trusts, and/or Special Needs trusts.

Bregman Lantz LLC - Elder Law Estate and Trust Planning

Retirement

Retirement is a freeing time in one’s life. Make sure you’re ready by updating your will, setting up or revising your Estate and Trust plans, and preparing for applying to Medicaid through Life estate deeds, irrevocable trusts, income-only Medicaid trusts, and Medicaid compliant gifting strategies.

Bregman Lantz LLC - Elder Law Estate and Trust Planning

Late-Life

Preparing for admission to either an assisted living facility, nursing home, or long-term care facility helps prevent any unnecessary burdens on your family. Make sure to go over any Emergency Medicaid planning, including checking for Medicaid eligibility, protecting your assets, and going over any changes to your will, Power of Attorney, and especially Healthcare Power of Attorney.

Bregman Lantz LLC - Elder Law Estate and Trust Planning

Passing of a Loved One

It’s a very difficult time in life when your loved one passes away, and it’s often the most difficult time legally. It’s vital, therefore, to make sure you’ve got the legal counsel needed to probate a will or estate, administer an estate and/or trusts, and file a complete inheritance tax return.