A testamentary trust can be an exceptionally useful tool for many people trying to plan their estates. However, it is not necessarily appropriate for everyone, and you should consider the benefits carefully, with the guidance of an experienced attorney, to see if it works for you. Here are five benefits of a testamentary trust you should consider:
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For many people, a trust is an integral part of their estate plan. An essential part of creating a trust is appointing the right Trustee. The Trustee is responsible for ensuring that the purpose of the trust and its terms are carried out. The Trustee is also responsible for ensuring that the trust assets are managed appropriately. Here are five things you should know about appointing a Trustee:
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According to a recent announcement from the New York State Department of Health, the implementation of a Medicaid homecare “lookback” rule has been delayed until at least March 31, 2024. This delay means that people who might have been ineligible for Medicaid homecare benefits due to the lookback rule may now be able to obtain those benefits. However, anyone intending to apply for Medicaid to cover their homecare costs should begin planning now, to avoid potential legal issues when the rule is finally implemented.
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Anyone who has a loved one with special needs is necessarily concerned about what they can do to ensure their loved one will be cared for if no one is around to assist. Fortunately, there are certain steps you can take to provide for your loved ones through your estate planning, which can help to protect them legally and financially. Here are five things you can do to protect your loved one with special needs:
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A Power of Attorney is generally considered an essential part of any estate plan, because of how important it is to protect your interests while you are still alive. Without one, you may find yourself in a legally tenuous situation that can cause endless grief for both you and your loved ones. Here are five reasons you should make sure to get a Power of Attorney as part of your estate plan:
An increasingly important part of estate planning in the modern world involves a kind of property that does not exist in any physical sense. This type of property, known collectively as “digital assets,” includes a variety of personal assets that may make up a substantial part of a person’s estate. But what exactly are digital assets, and how are you supposed to make an estate plan around them? Continue reading “Planning Your Estate to Account for Digital Assets”
A living trust, also known as an inter vivos trust, is not the most well-known estate planning tool available. For some people, a living trust can be an essential tool for protecting their wealth and minimizing the potential problems that can arise during the probate process. Here are a few questions you should ask yourself to see if a living trust is right for you: Continue reading “When Should You Consider a Living Trust?”
There are plenty of people who have prepared their Last Will and Testament and believe they have done everything they need to do for their loved ones and secure their estate. The more time passes, the more essential it is to revisit your Will and make sure it is kept up to date. Here are just a few reasons why it might be time to update your will: Continue reading “When is it Time to Update Your Will?”
While estate planning is a complex process for anyone, it can become even more complicated if you have a large number of assets to manage within your estate plan. Unfortunately, many high net worth individuals fail to anticipate the complications that such large estates can cause, resulting in legal and financial problems for themselves and their heirs. Here are five common mistakes high net worth individuals make when planning their estates: Continue reading “Common Mistakes in Estate Planning for High Net Worth Individuals”
When most people talk about estate planning, they concern themselves mostly with money or physical assets: their homes, their cars, their bank accounts and family heirlooms. Without realizing it, they may be excluding an entire class of assets. Digital assets will also need to be accounted for and distributed in an estate plan. Here are a few things to keep in mind when accounting for your digital assets in your estate plan:
Elder Law
Elder Law encompasses a broad range of legal matters. It is important for everyone, regardless of age or health, to plan for the future.
Guardianships
The legal system recognizes that some adults, whether due to disease, dementia, mental deterioration, or disability, are unable...
Medicaid / Medicare Fraud
Medicaid is a joint state and Federal program that provides insurance to individuals based upon their income and resources, while Medicare...
Reverse-Mortgage Foreclosures
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