Has a loved one in your family recently been diagnosed with dementia? You may be trying to sort out what this diagnosis means for you as well as your other family members and there’s a good chance that you have many different questions about how your life will need to change. Much is dependent on… Read More »
Blog Posts Page 2
What You Need to Know About Assigning QTIP Income Interest
The current estate tax exemption is $11.18 million and double that for married couples. There has been an increased emphasis in the estate planning industry on portability planning, particularly for those wealthy couples who have a combined estate that is above the $11.18 million mark but below the combined exemption amount. A portability plan considers… Read More »
Should You Give an Early Inheritance to Your Kids?
Should you give your kids an early inheritance? This is a common question asked of many estate planning advisors and professionals, but it is not one that you should undertake without the careful planning provided by a knowledgeable attorney. Giving your kids an early inheritance might seem like a good way to get things out… Read More »
Who Are Exempted Recipients for Asset Transfers with Medicaid?
If you have just begun to broach the process of Medicaid planning, you likely understand that it is state specific and can be extremely complex. Transferring assets to some people will trigger a period of Medicaid ineligibility, which could set you back by several months or longer due to transferring assets because you didn’t understand… Read More »
Are You Avoiding Business Succession Planning Because of the Fear Factor?
The founder’s fear of the mind is, in fact, one of the biggest barriers to effective business succession planning, according to a leading academic that studies families. A mother or father’s fear for their own future and their concerns about running out of resources to live on, often can be manifested when it comes time… Read More »
Is a Financial Advisor Enough for Proper Planning?
Finding the right financial advisor is one important component of engaging with your estate planning and ensuring that you have the right documentation to accomplish your goals, but do you know the things that your financial advisor shouldn’t do? Are you fully versed in how to approach all of the aspects of financial planning in… Read More »
Who Are Exempted Recipients for Asset Transfers with Medicaid?
If you have just begun to broach the process of Medicaid planning, you likely understand that it is state specific and can be extremely complex. Transferring assets to some people will trigger a period of Medicaid ineligibility, which could set you back by several months or longer due to transferring assets because you didn’t understand… Read More »
Do You Really Need to Avoid the Guardianship System?
Among some of the many reasons that you might wish to consider putting together a comprehensive estate plan with the support of an attorney is avoiding the guardianship system. There have been plenty of different news articles that have detailed families that have had to go through the alarmingly difficult situation of figuring out what… Read More »
Could a Whole Life Insurance Policy Be Better Than a Long-Term Care Insurance Purchase?
If you’re getting towards the point of retirement, there’s a good chance that you already know some family members or even some friends who have gone through the difficult situation of needing support from a nursing home and not being able to pay for it. You might have even been approached by insurance agents promoting… Read More »
An Economics Professor at Harvard Recently Published A Study That Shows That Women Can Lose Out When They Retire at The Same Time as Their Husbands
Deciding to retire at the same time as your husband might make a lot of sense so that you can spend time together. However, there are other possibilities and challenges that could affect you. Married women are overall still considered in their peak earning years in their 50s and early 60s, whereas married men’s earnings… Read More »
Study Shows That Medicaid Spending Will Hit $1 Trillion Within A Decade
If you are contemplating how best to support yourself in your older years and are curious about the possibility of long term care events or cognitive decline diagnoses that could be challenging for you or your loved ones, you need the support of an experienced estate planning lawyer to help you understand long term Medicaid… Read More »
Exit Planning is Crucial for Your Estate Planning Strategy
Even those people who do not currently intend to leave their business can still benefit from the services provided by an estate planning lawyer who is knowledgeable about the exit planning process. Although you might have heard peers and colleagues talk about the concept of exit planning, you might not have any plans on leaving… Read More »
Is It Ever a Good Idea to Use an Unrecorded Deed in Your Estate Planning Process?
Putting together the deeds and necessary paperwork for the process of estate planning can be overwhelming or even confusing, which is why many people choose to retain the services of an estate planning lawyer early on in the process and regularly as their life changes. As an adult child, your parents might decide that they… Read More »
How Can Developing Financial Literacy Assist with Your Estate Planning Process?
Most people recognize that they need to engage in the estate planning process, but it’s often put off until the last minute or never accomplished at all. Most people assume they don’t have an estate big enough to benefit from estate planning, but the truth is that even simple matters and critically important ones, such… Read More »
Don’t Forget This in Your Retirement Planning Process
If you are part of a married couple, at some point in the future there’s a strong chance that one of you will become a widower or a widow. Unfortunately, you will have plenty of company since the U.S. has more than 20 million people who classify themselves as widowers or widows, currently. 1.4 million… Read More »
Do I Need Estate Planning for My Cryptocurrency?
Cryptocurrency and other digital assets are evolving in the regulatory atmosphere very quickly, but it can be very difficult to figure out how these fit into your estate planning. In the past, putting stock certificates, deed to your home and a will in a safe deposit box in conjunction with coordinating with a lawyer was… Read More »
Too Many Small Business Owners Don’t Have A Succession Plan
Many small business owners have put all of their effort into developing their company and believe that their whole identities are wrapped up in it. This is often because building your small business is the fulfillment of your personal dream. But according to a study recently completed by Wilmington Trust of 200 privately held businesses,… Read More »
Don’t Forget All of These Post-Divorce Estate Planning Tools
It might seem as though your life is upended when you file for divorce. This feeling is likely to be followed with a concern over getting your new affairs in order. When you contemplate separating or getting a divorce, it is a good time to contact your attorney for an estate planning consultation. Things are… Read More »
Who Should I And Shouldn’t Choose as My Executor?
An executor plays a crucial role in the distribution of your estate. This person has many different tasks that must be completed in a properly documented and thorough manner. This makes it all the most important to select an executor who has comfort in serving in this role and who understands of what will be… Read More »
Is Self-Directed Long-Term Care for You?
More and more people who are approaching retirement age recognize that they may need support in the form of long term care. What long term care looks like for you depends on your funds, your support systems in place for managing long term care, such as an insurance policy, and your individual requests. More people… Read More »