There are pointed strategies that can be implemented to provide for each person on your inheritance list in the ideal manner. This is well demonstrated when you look at inheritance planning for people with disabilities. Need-Based Government Benefits Clearly, people with these challenges are going to require expensive medical care throughout their lives. Since many of these folks are not in a position to hold jobs, they cannot get health insurance through employers. Fortunately, Medicaid … [Read more...] about Can Medicaid Seize Assets in a Special Needs Trust?
You don’t have to settle for a couple of different options when it comes to the ways that you can plan your estate. There is some type of solution to serve just about any purpose, and we are going to look at three of them in this post. Pet Planning The idea of including your dog in your estate plan may sound ridiculous for a couple of different reasons. First, people live longer than dogs. Secondly, in most cases, these are family pets that in a real sense belong to multiple different … [Read more...] about Three Targeted Estate Planning Solutions
Currently, each person can give $11.58 million during life or at death. However, that amount will be cut in half by January 1, 2026. It may go down even sooner. Read on to learn why and how you should use it before you lose it. … [Read more...] about Use the Exclusion or Lose It
There are those that think that the executor of a will can independently distribute assets according to the wishes of the testator. They just read the will to the people that are named in the document and go about their business. You may have seen something like this on a television show, but it is not the way it works in reality. The will would be admitted to probate, and the Surrogate’s Court would provide supervision during the administration process. Probate serves a purpose, because … [Read more...] about What Is Probate and Why Do People Avoid It?
It is natural to feel a certain sense of security when you know that you will qualify for Medicare as a source of health insurance when you are 65. There are out-of-pocket expenses that you have to pay yourself, but if you retire with some resources and income, you should be able to manage them. This being stated, there is one complete void in the coverage that is not easy to overcome on your own. Medicare will not pay for a stay in a nursing home, and it does not cover in-home care. About … [Read more...] about Medicaid Spouse Allowances Can Provide Relief
Before the pandemic, Americans were more mobile than ever. When you move, you have to change your address, your voter registration, and all sorts of other things. But, do you need to revise your estate planning documents? Like with many things in law, it depends on your situation. Read on to learn more. … [Read more...] about Will Your Estate Plan Still Work If You Move?
Far too many people are unprepared from an estate planning perspective, and there are many reasons for this phenomenon. One of them is the idea that estate planning is a simple matter that you can take care of yourself at some point in time when you are very old and gray. This notion has been bolstered by the websites that sell boilerplate fill in the blanks legal documents. While it is true that there is no law against a layperson drawing up some type of document on their own, there are some … [Read more...] about Why Do You Need an Estate Planning Attorney?
There are a lot of terms used in the field of estate planning that sound similar, and this can be confusing to the layperson. With this in mind, we will provide some clarity with regard to two of them in this post. Living Will A lot of people think that estate planning is strictly about monetary asset transfers, and it can be if you do not see a larger picture. If you want to be completely prepared, you should also consider the eventualities that you may face toward the end of your life. In … [Read more...] about Living Trust vs. Living Will: Is There a Difference?
There is more to estate planning than disposing of your assets after your death. Planning for your incapacity is just as important. Read on to learn more about how incapacity planning can save you and your loved ones' anxiety. Read on to learn more. … [Read more...] about Planning for Incapacity
There are all sorts of formalities to an estate plan. Does that mean you can’t change anything by yourself? Read on to learn how your estate plan, if done properly, can give you the flexibility to make changes by yourself as to certain assets. Read on to learn more. … [Read more...] about Building Flexibility into Your Plan