The Process of Amending a Widow’s or Widower’s Estate Plan
The loss of a spouse is a difficult experience emotionally, spiritually, and financially. An estate plan and tax planning are usually handled by one spouse, and a widow(er) may find herself in a complicated financial position with more questions than answers. It is a mistake to think that a complete estate plan needs no further […]
The Cost of Long-Term Care
Based on findings from the US Department of Health and Human Services, almost seventy percent of retirees in America will need some type of long-term care (LTC), with average annual costs for such services ranging between $53,768 and $105,850, according to research from Genworth. According to HHS, people who receive Medicaid-financed nursing home care spend […]
Considering Your Parent’s Financial Future
Waiting to discuss finances with your aging parent, who may be in cognitive decline, is a mistake, according to financial experts. Gathering all the information necessary for a thorough financial assessment of their aging needs will take time. When your parents are young and still working, it is the best time to begin asking these […]
Providing End-Of-Life Care
While having open and honest family discussions about your mortality is a sobering experience, it is prudent. Though no one relishes the idea of their demise, with some forethought, you can ensure that your estate plan and healthcare arrangements reflect your wishes. It is crucial to prioritize these discussions with your loved ones and to […]
Elderly Estate Planning
According to a 2021 study by Caring.com and YouGov, the percentage of Americans age fifty-five and older who have created a will has decreased from sixty percent to forty-four percent. In comparison to the pre-pandemic years, younger adults are now sixty-three percent more likely to have a will than before the epidemic. While seniors and […]
State Laws and Protection of Nursing Home Residents
With the 2021 fall flu season upon us, we may see more resurgent cases of COVID-19 on the Nursing homes are taking precaution and implementing CMS protocols for resident visitation. Lessons of isolation due to physical separation from loved ones and family have taken an emotional and physical toll on both residents and their families. […]
Your Estate and Special Needs Planning
Third-party special needs trusts sometimes referred to as supplemental needs trusts are estate planning tools for those parents of children with mental/physical disabilities and the elderly. This type of trust will receive assets from you or another benefactor expressly for that person with a disability. Goals include: leaving funds for your child’s or elderly family […]
Why You Need An Elder Law Attorney
Elder law is a highly specialized area of law focusing on the legal needs of older adults encompassing more significant issues like long-term health care needs, quality of life, and financial well-being. Specific planning may include estate planning and administration, asset protection planning, Medicaid planning and applications, wills and trusts, probate, advance directives, special needs […]
Plan Long-Term Care Before an Emergency Occurs
In America, a lot of parents do not live close to their children. Managing aging parents or in-law medical events can be a serious challenge without proper preparation and understanding of what your parents’ strategy may or may not be, no matter where you live. Do you know what legal documentation your parents have in […]
Will Preparation and Undue Influence
Targeted attacks on vulnerable older people to exert what attorneys deem “undue influence” constitutes elder abuse. It disrupts the older persons’ impulse to provide for loved ones and instead leaves assets to the manipulator. Often, family members do not find out about a change in estate plan until after their loved one has died. Most […]