Estate Planning for the LGBTQIA+ Community
To protect our loved ones and our assets, estate planning is important to any individual regardless of orientation. In the LGBTQIA+ community, estate planning can legally protect against discrimination even if others are reluctant to recognize your relationship and your desire to permit your partner to make decisions for your care should you become unable […]
Estate Planning Considerations for Special Needs Children
Current medical and health care advancements have made it possible for dependents with special needs to live more useful lives than ever before. Many scientists regard the term special needs as a euphemism for disability. Yet, the difference between the two terms is primarily one of acceptance and preference as both terms describe the four […]
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 […]
Retirees are Worried About Spending Money
Senior citizens are using their retirement sparingly, even though the US economy has experienced over 10 years of economic growth. Bloomberg.com is reporting many retirees, and near-retirees are sitting on their wealth in much the same way large corporations are hoarding stockpiles of cash. Even famed investor Warren Buffet and his multinational conglomerate holding company […]
Elder Law & Estate Planning Explained
Elder law and estate planning are similar, but at the same time very different. The Concerns are Similar No matter what age we’re in, life can deliver some hard knocks. Hope for the best, but plan for the worst. We can get into accidents, especially when we’re young and under the impression that we’ll live […]
What It Means To Be a “Fiduciary”
At some point in your life, you may be asked to be a power of attorney for a family member or friend. Your person may be planning for when they might become unable to take care of their affairs. For example, they might become disabled or incapacitated, and they would need a trusted person to […]
Having a Conversation about Finances and Estate Planning with Your Aging Parents
As your parents’ age, it is essential that you have conversations with them about their finances. To broach the topic, you might bring up current events like the coronavirus pandemic, its effect on economic conditions, and how it relates to the security of their financial future. The conversation should come from a calming place of […]
Understanding the Probate Process
Probate is the legal process for authenticating a deceased person’s will, reviewing their assets, paying their outstanding debts and taxes, and distributing what remains to their inheritors. After an asset-holder dies, the court will appoint a valid will’s executor to administer the probate process. In the absence of a will, the court will appoint a […]
The Differences Between Wills and Trusts
Wills and trusts have specific and quite different benefits for estate planning purposes. Each state has specific laws and regulations governing these legal documents. You can have both a will and a trust; however, the information in each should compliment the other. As a standalone, it is not accurate to say one is better than […]