There are some estate planning situations that can be addressed through the purchase of life insurance. In a broader sense, life insurance coverage can serve many different underlying purposes, but we will look at three specific uses in this post. Estate Planning for Young Adults The vast majority of Americans are going through life without any estate planning documents at all, and people that are under the age of 50 are the biggest culprits. Obviously, the overall life expectancy is close to 80 … [Read more...] about Life Insurance Can Provide Planning Solutions
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Two Elder Law Issues Take Front and Center
As an elder law firm, we focus on matters that are of particular interest to senior citizens and their families. This is an area of specialization that has become more and more important, because the population is aging rapidly. There is a statistic that really puts this phenomenon into perspective. The Social Security Administration has been accepting over 10,000 applications daily for a number of years, and this volume is expected to persist into the foreseeable future. Why is there such a … [Read more...] about Two Elder Law Issues Take Front and Center
Estate Planning: Avoid Coronavirus Procrastination
The coronavirus pandemic has brought life as we know to a standstill in many ways, so it is easy to put certain responsibilities on the back burner. Though this is absolutely understandable under the circumstances, an estate plan is a must during these uncertain times. It is important to state your wishes with regard to monetary asset transfers, but that is only part of the equation. A well-constructed estate plan will also addressed medical related issues that can arise at a time when you are … [Read more...] about Estate Planning: Avoid Coronavirus Procrastination
Are All Asset Transfers Subject to Probate?
Probate is a legal process that an estate must pass through under certain circumstances. When a will is used as the asset transfer vehicle, it would be admitted to probate, and the court would supervise the administration process. The same thing is true with someone passes away without any estate planning documents at all. When this happens, the court would appoint a personal representative to act as the administrator. It is possible to proactively implement a probate avoidance strategy, and … [Read more...] about Are All Asset Transfers Subject to Probate?
Planning Technique for People With Special Needs
If you are going to leave an inheritance to someone with a disability, you would do well to discuss the situation with our attorney. We have a great deal of expertise in this area, and we would be more than glad to gain an understanding of your situation and advise you appropriately. Legal counsel is extremely important under these circumstances, because a great deal can be lost if mistakes are made. What are these potential losses? One of them would be a forfeiture of health care … [Read more...] about Planning Technique for People With Special Needs
