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
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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
Medicaid Planning: Take Action to Protect Your Legacy
When your property is passed on to your loved ones after you are gone, your legacy will live on. We all need monetary assets, but there is also a sentimental component, so these transfers are quite meaningful. As you start to get up there in years and contemplate your legacy, asset protection should be in the forefront of your thinking, because there is a looming threat. Long-Term Care Costs Once you reach the age of 67, your life expectancy is 87 years if you are woman, and it is 85 years … [Read more...] about Medicaid Planning: Take Action to Protect Your Legacy
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
