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Comparing Estate Planning and Elder Law

Comparing Estate Planning and Elder Law

When the time comes to plan for your future both medically and financially you may begin to wonder what estate planning and elder law are and how they compare to one another. Estate planning and elder law have some similarities…

Who is an Executor?

Who is an Executor?

When someone names you executor or personal representative of their estate, they believe you will be trustworthy to handle their assets and affairs after their death.  Even though the decedent nominated you to be their executor, you will still need…

Gifts and Penalties Under Medicaid

Gifts and Penalties Under Medicaid

Most seniors believe that spending down their assets is the only way to qualify for Medicaid, which helps low-income seniors with limited income and assets afford health care and long-term care. While this is true in some cases, proactive Medicaid…

Wills: What They Can and Cannot Do

Wills: What They Can and Cannot Do

If you die without a will (intestate), the state will distribute your assets and property based on state law and might not align with your wishes. A will is a legally binding directive stating who will receive your property upon…

What Is the Right Amount of Inheritance for Each Child?

What Is the Right Amount of Inheritance for Each Child?

Even though it is obvious and right to divide assets equally among children in many situations, in some families, having the same inheritance for each child can be inappropriate, deplete the estate's assets as a result of litigation, or cause…

Your Estate Plan Should Include These Things

Your Estate Plan Should Include These Things

What is an estate plan? According to Meriam Webster, the legal definition of estate planning is "the arranging for the disposition and management of one's estate at death through the use of wills, trusts, insurance policies, and other devices." All…

How Life Insurance is Involved in Your Estate Plan

How Life Insurance is Involved in Your Estate Plan

At first glance, life insurance may not seem to have any bearing on your estate plan, but it can be a crucial part of it. There are numerous other benefits to owning a life insurance policy aside from providing a large…

There is Much More to a Will Than Transferring Assets

There is Much More to a Will Than Transferring Assets

In Care.com's annual estate planning survey for 2019, 57% of U.S. adults lack a Last Will & Testament (a "Will"). Participants differed significantly based on factors such as age, race, and education. For example, when broken down generationally, 66% of people…

Avoid These Six Estate Planning Mistakes

Avoid These Six Estate Planning Mistakes

Sadly, many individuals make costly mistakes without proper advice and guidance from an estate planning attorney. Estate planning ensures that your assets, interests, and those you love are protected after you die. Beyond undermining your intent and diminishing your financial legacy,…

Planning Your Estate With Life Insurance

Planning Your Estate With Life Insurance

In the event of your passing, your loved ones should not have to inherit assets only to discover they can't access them for cash expenditures. Most retirees’ assets are in homeownership and retirement accounts, requiring a sale to get cash.…

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