Rochester estate planning attorneys provide assistance with the process of choosing a legal guardian for your children. This is one of many important steps that you need to take if you are a parent and you have a child who is depending upon you for care and support. While no parent likes to think about what could happen if they are not able to raise their child to adulthood as a result of incapacity or as a result of an untimely passing, it's imperative that every parent plan ahead for this … [Read more...]
Choice of Trustee Is Key
If you take the time to discuss your estate planning options with an attorney from our firm, you will understand why you may want to utilize a revocable living trust instead of a last will. When a will is used, it must be admitted to probate. This is a time-consuming and costly process, and there are limitations that go along with the utilization of a will.Things are very different with a revocable living trust. As the name suggests, you don’t have to worry about surrendering control of … [Read more...]
A Look at Legacy Planning
As Rochester estate planning lawyers, we help our clients arrange for effective postmortem asset transfers. However, in addition to the inheritance planning part of the equation, there is a larger picture to consider with regard to the lasting imprint you can leave behind.Legacy planning is very appealing to many people once they understand what it is all about. When you consciously shape your legacy, you can do things for others and pass along important knowledge. Let’s look at a few of the … [Read more...]
Naming a Trust as Beneficiary of an IRA
Whom should you name as the beneficiary of your IRA or Qualified Plan? Sometimes, it can be best to name a trust for your intended beneficiary. Read on to see the protections a trust can offer that a direct designation of the individual would not.Naming a Trust as Beneficiary of an IRA … [Read more...]
Report: Rochester Nursing Home Costs Will Rise
As elder law attorneys, we counsel clients that are preparing for the eventualities that they will face when they attain senior citizen status. The United States Department of Health and Human Services tells us that 70 percent of people that are at least 65 years of age will eventually need help with their activities of daily living. A significant percentage of them will spend time in nursing homes.We are all aware of the fact that Medicare is a government health insurance program that is … [Read more...]
