Category: Estate Planning
“In their trust they leave each other their share upon death and then I would be trustee when my last parent dies. I’m really concerned about this whole deal.” A son has contacted an elder law estate planning attorney now that mom is in a nursing home and he’s unsure about many of the planning […]
“The father of our country crafted a finely detailed and surprisingly personal will to protect his family and his legacy. Follow in his footsteps, by keeping these three principles in mind: communication, clarity and customization.” Estate planning for those you love can dramatically change your family for generations. Did you know that in his last […]
So, what happens to your business after you are gone? You have put a life’s work into developing your vision and building a successful business. What do you need now? An estate plan protects that life’s work, according to Bakersfield.com in “Estate planning tips for small business owners“. It makes sense. You’ve likely spent decades […]
Hiring an attorney can save time and money. Rather than wait until the problems arise, it is probably best to hire an attorney up front when planning for Medicaid coverage, according to The Middletown Press in “Use a lawyer for Medicaid planning“. The following are a few reasons it might be wiser to hire an […]
It is a scary topic and easy to decide to avoid the issue. If you make end-of-life decisions ahead of time, it can really turn out to be a kindness to family and friends who won’t have to make those difficult decisions, according to the Flagstaff Business News in “Easing the End-of-Life Transition with Advance […]
What are the inheritance rights and what are the key issues? All major life events should bring some careful consideration of your estate plan and a second marriage is no exception, especially with the possibility of a pre-nuptial agreement, according to nwi.com in “Estate Planning: Planning for second marriages“. There’s a second opportunity to sign […]
There are pros and cons to trusts and it is wise to know about them. Revocable trust and irrevocable trusts are excellent tools to be used in estate planning and the key is knowing when and how to use them, according to kake.com in “How an Irrevocable Life Insurance Trust (ILIT) Works“. Revocable trusts tend […]
Is it true that wealth lasts for many generations? The real root to accumulating and transferring wealth is through supporting education, helping in the purchase of a home or in getting married, according to Fast Company in “5 lies you’ve been told about generational wealth“. Here are a few commonly held misconceptions about generational wealth: […]
Plan needs to address the owner’s personal life and the future of the business. Everyone needs an estate plan but small business owners need to take an additional step and plan for what they want to see happen to their business, according to grbj.com in “Estate planning for small businesses“. Some of the steps recommended […]
Children may not have to make as many major decisions at a difficult time in their lives. Elder law estate planning can make the lives of adult children easier by setting major goals and tasks in the process, according to the Times Herald-Record in “Three ways for seniors to make things easier for their kids“. […]
