Executing legal documents such as a last will and testament, durable general power of attorney and healthcare power of attorney is an important part of creating an estate plan. However, the estate plan never should be considered finished after the documents are signed.
Although the Medicaid system may be a generally recognized public benefit, the intricacies of the program usually do not become relevant to individuals until they face the need to use it. For seniors and their families, that time generally occurs when discussing the need for nursing home care.
A common misconception about government agencies is they all work according to the same set of rules. This misunderstanding becomes painfully clear when individuals attempt to use the annual gift tax exclusion of $15,000 as a planning strategy for asset protection for long-term care.
Even those with the best of intentions can fall into the trap of estate planning misinformation. Estate planning attorneys frequently hear rumors and ill advice disguised as facts. There are three assumptions in particular that are commonly held.
There is a general understanding that every adult should have a last will and testament. However, for most people, exactly how that will is used remains a mystery. By understanding when a will is used, and how, each individual can create a more realistic estate plan.
Estate planning attorneys often are asked what will happen without properly drafted estate planning documents in place. This is a tough question, as the answer relies on the specific circumstances of each individual.
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…
- 5th, 3rd Region Volleyball Tournaments begin this week
- Rineyville Days offers something for all ages
- E'town Parks and Rec fall fest draws crowd
- Hodgenville couple killed in head-on crash
- Light Up Hodgenville moved up to Nov. 19
- Veterans Trust presents $12,000 to Leitchfield VFW project
- A day at the pumpkin patch
- Delivery of 'Hardin County Kentucky History and Families' delayed