If you have been appointed as the executor of an estate, it may feel like you have been given an overwhelming responsibility. And while it can be difficult, especially if legal problems arise during the Probate of your loved one’s Will, you can make things much easier for yourself if you understand a few basic principles. Here are five things you need to know about being an executor:
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A critical part of planning, beyond creating your last will and testament, is planning for the possibility that you may become legally incapacitated. Planning for incapacity ensures that your loved ones have everything they need to take care of you, if you become unable to handle your personal affairs. But what does it mean to be incapacitated, and why does it matter?
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Ideally, when you probate a Last Will and Testament also known as a “Will”, there are no issues that require litigation. Unfortunately, there is always the chance that something may go wrong, leading to one or more heirs choosing to initiate a Will contest, questioning the validity of the Will or the capacity of the person who executed the Will. Here are five things you need to know about contesting a Will:
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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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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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When people hear “Medicaid planning,” they assume that it is something for people with little or no assets. However, in reality the people who can potentially benefit the most from Medicaid planning are people who may not currently qualify for it due to having significant monthly income, money in the bank or ownership of property. So how do you know if Medicaid planning may be right for you, and what should you do if you want to incorporate it as part of your estate plan?
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:
The appointment of a Guardian plays an important role in ensuring that people who cannot care for themselves, will have someone appointed to manage their personal and financial needs. When is the right time to seek guardianship for your loved one? Here are some of the primary reasons that people will apply for guardianship for someone they care about:
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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”
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
Reverse mortgages are becoming an increasingly popular way for aging homeowners to refinance...
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