Have you considered your pet or pets when planning your estate? If not, you should, according to The Humane Society of the United States, the nation’s largest animal protection organization. Pets usually have shorter life spans than humans, but people don’t always include their pets in their estate plans. If a pet owner doesn’t make plans […]
In helping clients prepare for their future, estate planning and elder law attorneys use many acronyms. Understanding some of the common medical and legal terms in this field can give you added confidence in your approach to planning for your own future or that of your loved ones. 1. AEP (Accredited Estate Planner) — An […]
What is Estate Planning? While this designation is very recent, the concept of Estate Planning itself is not. “Estate planning is a process involving the counsel of professional advisors who are familiar with your goals and concerns, your assets and how they are owned, and your family structure. It can involve the services of a […]
October is recognized as National Estate Planning Awareness Month. Many people think that estate plans are for someone else, not them. They may rationalize that they are too young or don’t have enough money to reap the tax benefits of a plan. But as the following list makes clear, estate planning is for everyone, regardless […]
A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a “trustee,” holds legal title to the property for another person, called a “beneficiary.” Trusts fall into two basic categories: testamentary and inter vivos. A testamentary trust is one created by your will, and […]
Careful planning in advance can help protect your estate for your spouse or children. If you make a plan before you need long-term care, you may have the luxury of distributing or protecting your assets in advance. This way, when you do need long-term care, you will quickly qualify for Medicaid benefits.
Is a trust necessary in your estate plan? The answer may surprise you.
Things Change The minute a client leaves our office, things start to change. They get a little older each day, assets increase or decrease, health improves or gets worse, they move or change phone numbers or the law changes. The list goes on and on. Estate Plans Need Maintenance Estate plans are just like cars […]
The financial stability to leave our grandchildren an inheritance is something we all aspire to be able to do. We want our loved ones to have something to remember us by and leaving a sum of money is a common choice. Setting up a trust is often overlooked in the planning process. There are tax […]
When drawing up estate Planning documents, including advance directives is a crucial piece. A couple of documents people may choose to create are living wills and a Do-Not-Resuscitate or more commonly known as a “DNR”. Often confused, they serve two very different purposes. A living will is designed to communicate your wishes if you become […]