When you make arrangements for avoiding probate, your family members may be very grateful to you after you pass away. Probate is normally required in order for your assets to transfer to the new owners after your death. The process can be complicated, time consuming, and expensive. It can also create an opportunity for your will to be contested, which can result in a protracted legal battle that undermines the value of an inheritance. There are lots of reasons why taking steps towards … [Read more...] about Top Reasons for Avoiding Probate
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Can a Power of Attorney Help with Medicaid Issues?
If you are worried about what will happen when you become incapacitated, you need to think about having a Medicaid power of attorney. Planning for Medicaid and naming someone as your agent by creating a power of attorney are two of the most important things that you can do. If something happens to you and you cannot speak up for yourself or make your own decisions about your assets being managed or about your healthcare, your power of attorney should be the person who acts as your voice. The … [Read more...] about Can a Power of Attorney Help with Medicaid Issues?
Why You Need a Medicaid Planning Attorney
If you have assets, you need a Medicaid planning attorney. Many people work very hard to buy a house, to save money for retirement, and to put some extra cash in the bank. Unfortunately, all that you have worked for could be gone very quickly if you need to go into a nursing home. To protect your financial achievements and ensure you get to keep assets and pass them down to your loved ones, you need to create a plan to get Medicaid to pay for your nursing home care. How a Medicaid … [Read more...] about Why You Need a Medicaid Planning Attorney
What Is a Family Wealth Trust?
A family wealth trust is a type of trust that would be used to preserve resources that you are passing along to your loved ones. Wealth preservation strategies can be important to high net worth individuals because of the potential impact of the death taxes. We have a federal estate tax in the United States that can be applied on large asset transfers. Unlimited assets can be transferred between spouses free of the death tax, but transfers to anyone else are potentially taxable. The … [Read more...] about What Is a Family Wealth Trust?
Why New Parents Should Talk to an Elder Law Attorney
When you have a baby, you should talk with an estate planning attorney. Many new parents are overwhelmed with the responsibilities of parenting and speaking with a legal professional may be the last thing on their minds. It is also commonly believed that estate planning attorneys only help with issues affecting seniors, and most new parents are young or middle aged and may not realize they need the advice that an estate planning attorney can provide. The reality, however, is getting assistance … [Read more...] about Why New Parents Should Talk to an Elder Law Attorney
