As elder law attorneys, we focus on some of the challenges that seniors face. One of them is loneliness, because loss goes with the territory when you start to reach an advanced age. Pet ownership can do a lonely senior a world of good. When you bring a dog or cat into your home, you feel a renewed sense of purpose, and this can have sweeping positive effects. If you have a dog, you will take him for walks if it is possible for you, and this will give you a reason to exercise. Fresh area … [Read more...] about How Can I Include My Pet in My Estate Plan?
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Beneficiary Designations and the SECURE Act: Prior Designations
Beneficiary designations can be deceptively simple. But their simplicity is sort of like an iceberg. Danger lurks beneath those tranquil waters, both for the client and the attorney. Designations for IRAs and retirement plans can be particularly complicated, especially after the SECURE Act. This article examines how beneficiary designations done prior to the SECURE Act might not have the intended consequences today. Read on to learn more. … [Read more...] about Beneficiary Designations and the SECURE Act: Prior Designations
Special Needs Planning 101
When you are planning your estate, you should consider the life situation of everyone on your list. The right way to provide for one person may not be appropriate for the next, and this would definitely apply to inheritance planning for people with disabilities. Government Benefit Eligibility Most people in the United States get health insurance through their employers, but many individuals with disabilities cannot work, so this is not an option. Fortunately, there is a safety net in the form … [Read more...] about Special Needs Planning 101
Inheritance Planning With Custodial Accounts
When you have a young child on your inheritance list, you have to find a way to set aside the funds until they can manage their own money. There are a few different approaches that can be taken, and a custodial account is one of the options. UGMA and UTMA Accounts The Uniform Gifts to Minors Act (UGMA) was originally proposed in 1956, and it was revised a decade later. It allowed for the creation of custodial savings accounts for child beneficiaries, and the assets would be held in the … [Read more...] about Inheritance Planning With Custodial Accounts
Starting the New Year Right
As we begin a new year, it’s a good time to start off right. If you don’t already have an estate plan, now’s a great time to make an appointment with an estate planning attorney to get one. Read on to learn more. … [Read more...] about Starting the New Year Right
