7 Dangerous Reasons for Delaying Estate Planning
Neither my family nor I own much. Can't we delay planning until we're financially secure? No, you shouldn't. It is vital that you designate someone as your legal guardian in the event of your death. There is nothing worse than having your children become wards of the court or being
Estate Planning Changes and the Build Back Better Act
As the House Ways and Means Committee approves the bill's tax provisions, President Biden's Build Back Better Act (BBBA) has taken a significant first step towards passage. With the draft proposal as it stands, high net worth individuals may not be able to use estate planning strategies to shelter assets
A Blended Family’s Estate Plan
An inheritance in a blended family can cause hurt feelings and inequitable distributions, as well as result in lengthy, costly litigation. While you cannot legislate from the grave, you can carefully plan your estate so as to minimize any conflict between biological and stepchildren. Making sure your assets will pass
The Future of Long-Term Care In 2022
Taking a look at your life and health care planning at the start of each new year is more critical than ever. As Americans continue to respond to COVID-19's many iterations, we identify what is most important in our lives to preserve our health and financial future. For many, the mere
RESOLVED: Get Your Estate Plan in Order
The first new year's resolution you need to keep is to visit your friendly elder-law attorney, who can guide you through the estate planning process. Sadly, the pandemic is not over yet. It's important to prepare your papers in advance in case you become ill and cannot speak for yourself.
Surviving Spouses’ Estate Planning
It's hard to consider more than just your grief after losing a spouse or long-term partner. There are, however, several important and timely decisions you need to make regarding your finances and personal estate planning. As marriages, divorces, and children and grandchildren are born, changing circumstances impact estate planning. Making
Should My Loved One in Need of Care Live with Me?
Increasingly, the concept of aging in place is becoming more popular. However, many of us face the issue of what to do when we notice an older loved one is having difficulty living safely at home. Signs such as a dirty home in poor repair, unpaid bills, piles of mail,
The Powers and Limitations of a Will
A will specifies who will receive your property after your death and is an essential part of a comprehensive estate plan. When you die without an estate plan (intestate), the state will distribute your assets and property according to state law and possibly against your wishes. Having a will allows
Trusts For Life Insurance and Wealth Management
As the federal estate tax exemption allowance could be lowered, you may want to rethink the way you plan to pass generational wealth to your heirs. The Senate Democrats are proposing to reduce the current estate tax exemption from $11.7 million to $3.5 million for individuals and $23.4 million to
The Farm Belongs to Whom?
Assume that mother and father have managed the family farm for many years. They are getting older now, however, and they are considering moving into a smaller place. One of the daughters and her husband run the farm, but the others have moved away and aren't interested in returning. Now