Estate planning for couples with no children can seem deceptively simple. In fact, many couples with no children mistakenly believe that they are less likely to need a last will and testament than couples with children. However, the opposite is nearly always true, as intestate succession law…
For many families, estate planning is simple and straightforward, offering comfort in the ability to leave something to beloved loved ones. However, in some cases, making decisions regarding distribution of property upon death is neither easy nor comfortable. Perhaps one of the most difficul…
According to a study through Family Enterprise, USA, family owned businesses contribute 54 percent of the United States GDP and employ 59 percent of the American workforce. In fact, according to the United States Census Bureau, family businesses account for 90 percent of businesses in our nation.
July 4 was a special day. It’s a time when we celebrate freedom and recognize the vast number of liberties which are available to us as Americans. However, for many seniors trapped in a cycle of abuse or exploitation, this freedom is unattainable.
When contemplating estate planning, we often focus so much on after-death events that we overlook the possibility we may need help managing our affairs while we are living. Whether that help includes merely running small errands or making major decisions, the individual you choose to act for…
When preparing estate plans, we tend to categorize beneficiaries as either adults or minor children, with adults often receiving property outright and minor children receiving property in trust until they reach 18 years of age. A better practice, however, is to change the term “minor child” …
The Medicaid system began in 1965 as a government health insurance for low-income individuals. Since that time, the system has evolved significantly, with both large-scale and small-scale changes occurring at the federal and state levels.
The most often asked question in estate planning is regarding which documents every individual should have. There are unlimited possibilities for how a plan can be structured and which documents may be necessary, depending on financial, medical and family considerations.
When preparing an estate plan, many people consider a last will and testament to be the primary testamentary instrument for “ordinary” estates, with any kind of trust only used for large estates. However, the use of revocable living trusts truly is one of the most underused estate planning tools
This is the time of year to prepare for a garden, clean our houses and update our planning documents. Although updating our estate plans may not feel intuitive at a time when we want to be heading outside, this is a great time to examine and re-evaluate goals.
When loved ones begin to decline, thoughts of nursing home care and Medicaid suddenly become top of mind. Unfortunately, the systems are complicated and the processes confusing. Add in the myriad of misinformation surrounding the Medicaid system, and many families live in fear of anticipated…
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