The pandemic has been difficult for many of us, including some Estate Planning attorneys. Sometimes it’s difficult to follow all the news. But, there’s little-known pandemic relief for employers struggling from the pandemic. Read on to learn more. … [Read more...] about Pandemic Relief for Employers
Estate Planning
Have You Considered Your Final Arrangements?
You may feel as though estate planning is all about the facilitation of asset transfers. This is certainly at the core of the endeavor, and it is the first step when you are trying to make sure that you fulfill your most basic responsibilities. At the same time, as the years pass and you start to think about your legacy in earnest, you may start to empathize with your loved ones. They will be going through a difficult time immediately after your passing, and you can ease the procedural burden … [Read more...] about Have You Considered Your Final Arrangements?
What Can a Special Needs Trusts Provide for the Beneficiary?
A special needs trust is a legal device that is used to provide an inheritance to a person with a disability. We are going to look at the ways that the trustee can utilize the assets, but before we get there, we will share some fundamental facts to provide context. Need-Based Government Benefits Everyone needs health insurance, but it is absolutely essential for people with disabilities that will need expensive care throughout their lives. Many of these folks cannot work, so they do not get … [Read more...] about What Can a Special Needs Trusts Provide for the Beneficiary?
Using Disclaimers to Achieve Client Goals: Double Disclaimers
Disclaimers can be a good way of getting assets where you want them to go. If the disclaimer is a “qualified disclaimer,” the client isn’t treated as having made a taxable gift. Sometimes a “double disclaimer” is necessary to achieve the desired outcome. Read on to learn more. … [Read more...] about Using Disclaimers to Achieve Client Goals: Double Disclaimers
Five Reasons to Put an Estate Plan in Place
If you are going through life without an estate plan, you may feel as though it is not important because things will naturally fall into place. In reality, planning is a must for a number of different reasons, and we will share five of them in this post. Prevent Intestacy The condition of dying without any estate planning documents is called intestacy. Imagine the situation your loved ones would face if they find out that you died intestate while they are dealing with the emotional part of the … [Read more...] about Five Reasons to Put an Estate Plan in Place
Why Would Someone Use a Life Estate?
There are many tools in the estate planning toolkit, and as a layperson, you may hear bits and pieces about some of them. Incomplete information can lead to mistakes that yield negative consequences later on, so knowledge is power in this regard. With this in mind, we will look at the estate planning device called the life estate in this post. Real Property Transfers You can potentially use a life estate to facilitate the future transfer of your place of residence or any other type of real … [Read more...] about Why Would Someone Use a Life Estate?
“Last Will and Testament” Origin
Why do you have a “Last Will and Testament.” Even Estate Planning attorneys are unlikely to know the etymology of the term. It was the subject of a recent question on “Jeopardy.” Read on to learn more. … [Read more...] about “Last Will and Testament” Origin
SSI and SSDI: What Are the Differences?
Some government programs have similar sounding names, and this can lead to confusion and misunderstandings. With this in mind, let’s look at the differences between Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI). SSDI When you remit payroll tax payments, you eventually get something in return of your contributions. You earn retirement credits that are used to qualify for Social Security and Medicare. In 2021, you get one credit for every $1470 in taxable … [Read more...] about SSI and SSDI: What Are the Differences?
Life Insurance Can Be a Useful Part of Your Estate Plan
Estate planning can be approached in two different ways. You can stay in the present without any particular legacy plan and resolve to leave behind anything that may be left after your passing. The alternative is more intentional and comprehensive. Some people have specific legacy goals, and they want to make sure that they protect the well-being of their loved ones every step of the way. If you fall in the latter category, life insurance can be quite useful, and we will take a look at the … [Read more...] about Life Insurance Can Be a Useful Part of Your Estate Plan
2021 Estate Planning Survey Yields Surprising Results
Passing away is one of the sure things of life, but most people have done nothing to prepare for this inevitable event. How significant is the lack of preparedness? Caring.com endeavors to answer this question each year when they conduct their annual surveys, and the 2021 results have been released. Good News and Bad News Over recent years, fewer and fewer people have estate plans in place, but the COVID-19 pandemic seems to have gotten the attention of younger adults. Without question, … [Read more...] about 2021 Estate Planning Survey Yields Surprising Results
