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Estate Planning & Elder Law Blog

Friday, June 21, 2019

What Is a Living Will and How Does It Work?


A last will and testament allows you to designate how your assets will be dispersed after you pass away. A living will is put in place before your death and has no bearing on what happens after your death. Moreover, a living will allows you to determine what steps will be taken to care for you if an illness or injury causes you to be in a vegetative or otherwise incapacitated state. While this is something most people don't think about daily, it is essential to have a living will in place in case the unthinkable happens. Here’s what a living will is, and why it should be important to you.
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Monday, June 17, 2019

Estate Planning Protects Against Elder Abuse


Your retirement years, ideally, should be spent free of concern about your financial health or potential threats against your assets. Elder abuse is a particularly difficult problem for seniors who have worked hard and created a relatively comfortable nest egg. Many are vulnerable to fraud and other financial abuse at the hands of those intended to protect the very assets they often pilfer. Estate planning helps to protect seniors against such elder abuse. 

  

 

Seniors Face Many Threats

Senior citizens often face declining health and mobility as they grow older.
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Wednesday, June 12, 2019

How Does Inheritance Work?


Taxes are a part of life. They are also a part of death. And frustratingly, if we’re not careful in life, we can pass them on to our loved ones in death through inheritance taxes!

Inheritance taxes must be paid for all gifts received as part of an inheritance or trust. The amount of tax will be determined by the value of what is collected, whether it is cash, real estate, or any other item of value. Some gifts you receive may be eligible for tax exemptions that will significantly reduce or even eliminate the tax you may have otherwise had to pay.
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Thursday, June 6, 2019

10 Frequently Asked Questions about Setting Up a Will


For most of us, planning for what happens to our possessions after we leave this earth is not a top priority. At least this would be the impression you might take away from the fact that 6 in 10 American adults have never taken the time to create a will or living trust.
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Sunday, June 2, 2019

Estate Planning for Dummies: Everything You Need to Know


Worldwide, every hour, 6,316 people pass away. Death is not something we like to think about, but it is a certainty in all our lives. We don’t get to choose when our time on this world ends.
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Friday, May 31, 2019

Living Trust vs. Will: A Look into the Best Choice for Your Situation


58% of Baby Boomers (ages 53-71,) and 81% of those 72 or older have a living will or trust. They already see how smart it is to begin planning for the fact they will not be around forever.
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Thursday, May 30, 2019

How You Can Use Estate Planning as A Gift


What happens to all your belongings when you die? Where will your finances go? Who will be in charge of carrying out your last wishes, and who will take care of you before you pass away? 

Estate planning IS a gift. Consider, you have already taken the effort and invested significant time to meet with an estate planning expert, so your family doesn’t have to. Why did you make this effort?

The reason you made the effort is because establishing an estate plan has the potential to resolve future conflicts and disorientation that your family may experience upon your departure. Estate Planning is a loving gift that you will give to reduce the emotional stress that is attached to your passing and it will provide direction for how your family will need to move on following your death.  

In this article, we are going help you understand the various components of an estate plan and show you how your thoughtfulness today will benefit your family for many tomorrows to come.
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Wednesday, May 29, 2019

Reasons Why Having a Will is Important


A Last Will & Testament is a valuable document that your family will benefit from when you die or if you become incapacitated at some point. Your will can communicate how you wish your family to be taken care of, your assets to be managed/distributed, and even which charities will benefit from your long years of responsible planning.

Here's the thing about wills, however. Every person and their finances are different, so the value proposition of a good will, and associated estate plan, revolves around different key ideas for everyone. 

Take a look at the reasons you should have a will, below.
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Wednesday, May 29, 2019

How Does a Trust Work?


Trusts are valuable tools if you want to ensure your children or other relatives receive their share of your estate.

Trusts can be independent from a last will and testament but often work hand-in-hand with them.

Often, trusts are used to ensure that children or grandchildren have the funds they need to go to college, or to fund a local charity, provide a down payment on a business or home, or event to provide a safety net for your assets as you age.  And this is not nearly all the ways a trust can be used.  Trusts are incredibly versatile financial tools that will offer long-term benefits to those who receive them.


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Friday, May 24, 2019

Reasons Why Having a Will is Important


A Last Will & Testament is a valuable document that your family will benefit from when you die or if you become incapacitated at some point. Your will can communicate how you wish your family to be taken care of, your assets to be managed/distributed, and even which charities will benefit from your long years of responsible planning.

Here's the thing about wills, however. Every person and their finances are different, so the value proposition of a good will, and associated estate plan, revolves around different key ideas for everyone.

Take a look at the reasons you should have a will, below.


Read more . . .


Thursday, May 23, 2019

Why Estate Planning Should be a Top Priority for You


At some point soon you will want to consider the future of your estate for after you pass away. You will have to decide how it will be divided up, which individuals to include in any plans you have for your assets, and how and if you want to leave a legacy, among many other items. The way you tie all these ideas, thoughts, and wishes together is an Estate Plan.

An estate plan includes things like a will, trusts, living wills, healthcare proxies, powers of attorney, and even detailed instructions for how things should be handled after you pass away, and in some cases while you are still alive.

 

 

The Estate Plan Concept is for Everyone

When the word “estate” gets used some people immediately think of those with a lot of money or palatial property.


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