Estate Planning Isn’t Just For The Elderly
Estate planning must conform to the law. Not only does this mean that wills and trusts need to be drafted in a way that renders them legally valid, but they must adhere to certain restrictions and penalties that may be imposed by the law. By possessing a firm grasp on...
Securing your financial future, as well as those of your loved ones, is not an easy task. When it comes to estate planning, many individuals procrastinate, primarily because they are afraid of confronting their own mortality. Even those who are able to broach the...
Although nursing homes exist in almost every community across the United States, most of us fail to recognize that we may need long-term care as we age. This is troubling for two reasons. First, a significant portion of the population will end up in a nursing home....
An irrevocable life insurance trust (ILIT) is a special trust designed to counteract a lot of problems that can arise relating to life insurance. One of those problems relates to a large life insurance policy that triggers unplanned estate tax consequences. Another...
Deciding how to care for an aging loved one can be excruciatingly difficult. For many, though, the only option they have is to place their loved one in a nursing home. There is nothing wrong with this decision, and, in fact, most nursing homes provide competent and...
Creating a trust can be a great way to engage in estate planning that protects a family's assets. It can not only provide financial security for an individual and his or her beneficiaries, but it can also provide peace of mind. In order to create a valid trust,...
If you have a child with special needs - one who cannot care for himself or herself without adult assistance - what will happen when you're no longer around to help? Perhaps a relative will be available to help your child. Or, maybe no one will be able to fulfill your...
When it comes to saving money, we all often think we have more time than we really do. This is true with both estate and care planning. The costs associated with long-term care can be staggering, which means that the time to start saving is now. Those who fail to take...
From time-to-time, you might hear someone refer to probate court. Although it may be commonly referred to in movies and television, not everyone has a clear sense of what probate is and its purpose. Hopefully this post will help shed some light on the subject. Probate...
Imagine your mother or father suffered a catastrophic stroke and you're the designated health care power of attorney. Depending on the severity of your loved one's health condition, he or she could be incapacitated and unable to make decisions for him- or herself. As...