Estate Planning & Elder Law Blog
Thinking Strategically about Estate Planning
Strategic estate planning involves making deliberate choices beyond simple asset distribution. The process helps mini...
Do I Have to Pay Off Husband's Debts after He Dies?
Losing a spouse is emotionally challenging, and when aggressive debt collectors add to the burden, the situation beco...
How Do I Contest a Will?
Wills often go through probate, which is the legal process for settling an estate. The rules are different for every ...
Does Marriage Have an Impact on a Will?
Being married is significant both for a married person’s lifetime estate planning and subsequent administration of th...
What Happens to My Mortgage When I Die?
Understanding what happens to your debt when you die is an important part of estate planning – and you don’t have to ...
Why Are More Americans Worried about Estate Planning?
One-quarter of Americans said inflation has caused them to think about estate planning, according to the annual Wills...
What Happens If I Take a Bigger RMD?
At age 72, the IRS mandates minimum distributions from IRAs and tax-deferred retirement accounts. Most people withdra...
What Is the First Thing an Executor of a Will Should Do?
When appointed as an estate executor, your responsibilities begin immediately. Understanding the proper sequence of s...
The Intestate Estate: What Happens When There Is No Will?
Creating a will should be the first step in a comprehensive estate planning process, since it allows you to make sure...
What Should Small Business Owners Know about Estate Planning?
Small business owners often find themselves overwhelmed by operational demands, leaving little time to consider estat...
Will Eating Walnuts Help Me Live Longer?
A recent study suggests that incorporating walnuts into your diet early in life may support heart health and longevit...
Recognizing Graves' Disease in Seniors
Graves’ disease represents an autoimmune disorder that triggers overactivity of the thyroid gland, commonly called hy...
Must I Pay Spouse's Debt If They Die?
When a spouse passes away, surviving spouses often wonder whether they’re responsible for debts their partner left be...
Ensure Your Estate Plan's Success
Regularly reviewing estate planning documents is essential to maintaining their effectiveness and preventing costly c...
Avoid Guardianship and Secure Your Family's Future
Having the right legacy plans and documents in place is one of the most important steps aging individuals can take, b...
When Do I Start Taking Social Security?
You have the option to begin collecting Social Security benefits as early as age 62, though waiting until your Full R...
Avoid These Common Trust Mistakes and Safeguard Your Assets
Establishing a trust represents a valuable strategy for asset protection and ensuring family financial security. Neve...
Do I Need a Generation-Skipping Trust?
Due to recent tax law changes, your family may be able to avoid adverse federal estate tax consequences when you leav...
Navigating the Expense of Funerals
A funeral can cost $10,000 or more, according to the Funeral Consumers Alliance. The cost of a funeral in the U.S. ca...
Can My Will Be Changed By Power of Attorney?
Power of attorney is one of the most important legal forms for estate and elder care planning. Along with wills and t...
Estate Planning Checklist: Key Steps for a Comprehensive Plan
Estate plans comprise multiple components, including wills and trusts, along with supporting documents designed to he...
Take Care of Your Furry Friend with a Pet Trust
Although providing for animals in estate planning wasn’t traditionally common, this practice has evolved significantl...
Strategic Philanthropy: Private Foundations and Charitable Trusts
Using a private charitable foundation or a charitable trust for philanthropy can both be effective vehicles for makin...
Here's Why You Need an Estate Plan
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to docum...
Can a Will Help Me Avoid Probate?
A Last Will and Testament is an important estate planning document, but there’s a common misconception about its role...
What Should I Know About Probate Costs?
Probate is the legal process of proving a will and settling an estate after someone passes away. Understanding the co...
Navigating the Emotions of Wealth Transfer
There is a massive movement of money going on right under our nose. It’s not illegal or unethical. However, it’s frau...
Do Family Secrets Hurt Estate Planning?
A financial services research study highlights how family secrecy undermines effective wealth transfer. While most as...
Doctors Asking Congress to Address Pay in Medicare Legislation
Physician groups are urging Congress to reform Medicare payment structures as lawmakers debate budget measures and de...
What Symptoms May Appear Years Before Dementia?
Researchers at the University of Cambridge have discovered that dementia symptoms may manifest up to nine years befor...
What to Ask a Prospective Estate Planning Attorney
While more than half of Americans believe estate planning is essential, a mere 33% actually have a living trust or wi...
Does Divorce Have an Impact on Estate Planning?
When navigating a divorce, estate planning often takes a backseat to immediate concerns. However, even amicable divor...
How to Avoid Common IRA Mistakes
Millions of Americans use both traditional and Roth IRAs to save for retirement. However, that doesn’t mean they all ...
Minimizing Taxes When Business Is Transferred
When building wealth through a business, owners and executives often concentrate significant net worth in company sto...
What Should I Know about Funeral Planning?
Losing a loved one is stressful enough without having to deal with a botched funeral. Preplanning, due diligence and ...
Battle Over Presley Estate Reveals Problems
A woman with substantial debt passes away, leaving life insurance proceeds to her children. Her trust is then contest...
Should I Consider Working with an Elder Law Attorney?
Elder law attorneys can assist family caregivers in understanding their loved one’s current situation and outlining p...
What Are the Advantages of Putting Your Home in a Trust?
If you have a residence you would like to pass onto loved ones after your death, and you’re worried about your home g...
What Are the Causes and Risk Factors of Parkinson's Disease?
There are several known causes of Parkinson’s disease (PD). This condition is associated with decreased amounts of do...
What Should Seniors Know before Remarrying?
As the calendar turned to 2023, many of us took a moment to think about resolutions. I want to lose 10 pounds. I want...
What Are RMD Rules for 2023?
The SECURE 2.0 Act, signed into law in December 2022, modifies required minimum distribution (RMD) regulations for re...
Top Benefits of Estate Planning
Estate planning isn’t just for the ultra-wealthy, nor is it something you should put off until your golden years.
How Does Guardianship Work?
Many people lack understanding about guardianship for adults with dementia. You’re certainly not alone in this confus...
Estate, Gift, and GST Exemptions for 2023
The Internal Revenue Service has announced inflation-adjusted figures for estate, gift, and generation-skipping trans...
Can a Revocable Trust Protect Assets from Creditors?
Revocable trusts, sometimes referred to as “living trusts”, do not protect assets from creditors. They are subject to...
Busting Some Estate Planning Myths
While contemplating legacy planning can feel uncomfortable due to conversations about incapacity or death, it represe...
Planning with a Dementia Diagnosis
Families and their loved ones with dementia need to start advance care planning after receiving a diagnosis of dement...
Some Hobbies Can Help You Live Longer
Hobbies are part of what makes life fun. Some of them come with a major bonus: they just might lengthen your life.
How Does an ABLE Account Work for a Special Needs Child?
If you have a child or grandchild with disabilities, one of your biggest worries is what will happen when you are no ...
Who Inherits TV Broadcaster Barbara Walters' Estate?
Renowned American broadcast journalist and television personality Barbara Walters passed away in December. Walters ac...
What Is a Tax Reimbursement Clause?
Tax reimbursement clauses are a common provision found in many trusts. Understanding their purpose and implications i...
When Should I Change My Will?
There is no expiration date on a will, but as family and financial situations change—and as laws evolve—wills may nee...
Steps to Take for End-of-Life Planning
It isn’t just about wills and funerals—it is a reflection of your values, your goals for healthy aging, and the hopes...
Estate or Beneficiary: Who Pays Expenses?
If you’re set to inherit, you may be wondering what estate expenses are paid by the beneficiary. The answer can depen...
Can a Loved One with Dementia Live by Themselves?
A diagnosis of dementia may prompt families and their loved one with dementia to reconsider their choices. However, p...
What Happens to Jointly Owned Property When an Owner Dies?
Various types of property, such as bank accounts and real estate, can be owned jointly with another person or persons...
When Is Life Insurance Taxable to Beneficiaries?
When beneficiaries receive a payout from a life insurance policy, they typically don’t have to pay taxes. However, th...
What Do I Need to Know If I'm Getting an Inheritance?
Heirs receiving an inheritance can expect the process to take time. Having a plan for the money and consulting with p...
Who Gets Graceland after Lisa Marie Presley's Death?
Lisa Marie Presley’s three surviving children will inherit her Graceland estate, according to reports following her d...
When Can Gifts or Donations Be Made for You?
Many older adults enjoy giving money during their lifetime to family members or donations to religious or charitable ...
Why Change the Executor of Your Will?
While you may draft a will assuming that your choice of executor won’t change, there are different reasons why making...
Can Hearing Aids Have a Cognitive Benefit for Seniors?
Restoring hearing loss with hearing aids or cochlear implants was linked with less long-term cognitive decline and ev...
Coolio Had No Will...You Should
When rapper Coolio died in September at age 59, he joined a notable group—including Prince, Howard Hughes, and Pablo ...
How Do High Interest Rates Impact Estate Planning?
When the 7520 rate remains low—as it was for 15 years—estate planning opportunities flourish. However, few planners h...
What Is a Digital Asset for Estate Planning?
The typical American manages approximately 30 to 50 online accounts across various platforms—banks, utility companies...
What Is Included in an Estate Inventory?
One of the essential steps in the probate process is filing an inventory of all the assets that are part of the estate.
What's New in SECURE Act 2.0?
In the darkness of night, hidden within the 4,000+ page Omnibus Bill designed to maintain government operations, sits...
Can I Age in Place?
As people age, health and mobility issues can make independent living at home more difficult. However, not everyone c...
Beneficiary Mistakes to Avoid
Planning for one’s eventual death can be a somber task. However, consider what would occur if you failed to plan: lov...
What Are the Big Takeaways for Social Security in 2023?
2022 presented challenges for many seniors, but 2023 offered encouraging developments. Several positive changes emerg...
When Is a Family Limited Partnership Needed?
You do not have to be ultra-wealthy for a family limited partnership to make sense.
Watch for Elder Financial Abuse
Elder abuse represents a significant problem across the nation. According to the National Council on Aging, older Ame...
What Advisors Does a New Widow Need?
Losing your spouse represents a critical life transition requiring support from loved ones and healing time. Beyond p...
Should Spouses Use the Same Estate Planning Attorney?
You and your spouse may visit the same primary doctor, financial advisor and tax preparer. However, what about prepar...
It Is Important to Update Your Estate Plan
Many individuals who have created a will, power of attorney for health care, financial power of attorney, and living ...
How to Help Mom Manage Her Care if She Moves
When an elderly parent relocates to live with you, managing their healthcare transition requires careful organization...
Make an Impact with an Endowed Scholarship in Your Estate Plan
A love for nursing and a desire to help young people prompted a Norfolk man to include a nursing scholarship at North...
Are My Children Entitled to an Inheritance?
Adult children may anticipate, but are not legally entitled to, an inheritance.
Should You Agree to Being a Guardian?
Being asked to serve as a guardian for someone’s children is an honor, but it demands careful consideration before ac...
Who Needs a SLAT Trust?
A SLAT is an irrevocable trust set up while both spouses are still alive, in which one spouse is the designated benef...
What Documents Are Needed in an Emergency?
If you knock time and money off the excuse list, you can take care of some important estate-planning tasks.
How Will Social Security Change in 2023?
Social Security recipients receive annual benefit adjustments to address inflation effects, but the cost-of-living ad...
Can I Protect My Aging Parents?
As the American population of seniors continues to expand, the need for intentional estate planning becomes more urge...
Can You Prevent Family Fights over Inheritance?
Americans are expected to inherit $72.6 trillion over the next quarter century, more than twice the amount from a dec...
What Is a Life Estate?
A life estate is a form of property ownership that divides control and ownership between two parties during the prope...
IRS Announces New Lifetime and Gift Tax Exemptions
The Internal Revenue Service announced new inflation-adjusted limits for 2023 that enable affluent individuals to tra...
Did Loretta Lynn Have an Estate Plan?
Country music icon Loretta Lynn passed away at the age of 90 on Tuesday, October 4th. The renowned singer had reporte...
Some Assets Better Left Outside of Will
Your will might not have the final say on your estate. Many assets transfer outside probate through other legal mecha...
Prisoner Claims He is Tupac Reincarnated and Entitled to His Estate
A Colorado inmate filed a lawsuit in New York seeking to obtain Tupac Shakur’s estate, claiming he is the late rapper...
Could Your Estate Plan Be a Disaster?
We’re all looking to save taxes, court costs, legal fees and “make it simple” for our heirs. A last will and testamen...
Can Long-Term Care Insurance Premiums Be Deducted from Taxes?
Long-term care insurance represents an important component of planning for later life stages. Many individuals purcha...
Is Private Sector Medical Care Better than the VA?
Veterans who use community care programs to access private sector medical appointments may not be receiving faster, b...
Do I Have to Spend Down Everything to Qualify for Medicaid?
My spouse is going to have to move to a nursing home. When spending down assets for the sick spouse to qualify for Me...
What to Do When Your Spouse Dies
Losing a spouse is one of life’s most difficult experiences. This guide provides a comprehensive checklist of necessa...
What Happens When Inheritances Are Unequal?
Robert, the older brother, and Lon, the younger one, were close as they were growing up in the Queens borough of New ...
The Benefits of a Good Estate Plan
Estate planning helps you avoid many unfortunate situations. While it can take some time and money upfront, you can a...
Should I List Beneficiaries on My Life Insurance?
Life insurance provides financial protection for your beneficiaries after your death. However, selecting the right be...
Estate Planning, Inflation and Interest Rates -- Have You Adjusted?
Estate planning aims to provide certainty amid numerous variables. However, recent spikes in inflation, interest rate...
Can an Elder Law Attorney Help Me with Medicaid?
Ensuring that the elderly have their rights respected is extremely important. That is where an elder law Medicaid att...
How Do I Ask My Parents About Their Estate Plan?
Many older adults and their children struggle with discussing death and estate planning matters. However, opening lin...
How Does an Irrevocable Life Insurance Trust Work?
Life insurance frequently serves as a key component of thorough estate planning, especially when assets are largely d...
Estate Planning Considerations for Minor Children
When preparing estate planning documents, certain beneficiaries may need more protection than others. One particular ...
No Inheritance Tax for King Charles III
King Charles III has ascended to the U.K. throne, but he won’t have to pay the U.K.’s inheritance tax on the massive ...
Problems Created When No Will Is Available
People who have had a serious case of COVID-19 are 66% more likely to engage in estate planning, and 32% of adults un...
What Do Seniors Say About Aging in Place?
For all the pain and disruption caused by COVID-19, at least one benefit appears to have come out of the pandemic for...
How Not to Build a Family Football Dynasty
A decade before his death, the billionaire owner of the Denver Broncos consulted with attorneys about the orderly han...
Did Actress Anne Heche Have a Will?
Anne Heche’s oldest son, Homer Laffoon, filed a petition to control his mother’s estate after she died in a car crash...
Why Is It Important to Have an Estate Plan?
An estate plan serves multiple critical purposes beyond simple asset distribution. The federal estate tax exemption c...
Can My Teeth Tell Me about My Health?
While we know that regular brushing, flossing and general dental care can prevent common problems such as cavities an...
Estate Planning for Blended Families
Traditional, very simple estate planning may not be sufficient to accomplish estate planning goals in many blended fa...
What Jackie Kennedy Knew about CLATs and Estate Planning
Jacqueline Kennedy Onassis remains celebrated as a beloved former first lady and cultural icon. However, her lesser-k...
How Does a Business Owner Create an Exit Strategy?
You spend a lifetime building your business, so it’s crucial to have a game plan when it’s time to leave. Being prepa...
Top Products to Keep Solo Seniors Safer
Living independently is a life-affirming must for many seniors. However, it isn’t without some challenges. There are ...
Does a Beneficiary Have to Pay Taxes on 401(k)?
If you anticipate inheriting a 401(k) from a parent, a spouse or someone else, it’s important to know your options fo...
The Risks of the Do-It-Yourself Estate Plan
Many individuals attempt to save money by preparing their own estate plans using online forms and templates. However,...
Can Dementia Be Prevented?
Socializing, taking classes and exercising may boost your brain’s cognitive reserve and stave off memory and thinking...
Who Is the Best Person for Executor?
Several critical estate planning documents authorize another person—known as an agent, executor, or personal represen...
Scammers Try to Take Senior for a Ride
An 80-year-old senior woman nearly fell victim to an elaborate scam involving fraudsters who even arranged an Uber ri...
What Happens If Couple Divorce and Own Business?
No one enters a relationship—be it personal or business—thinking it will fail. However, what happens when it does?
Who Will Receive Naomi Judd's Estate?
Country music legend Naomi Judd, who passed away in April 2022, created a will that notably excludes her daughters Wy...
Is an ABLE Account the Same as a Special Needs Trust?
Individuals with disabilities often require government assistance programs like Supplemental Security Income and Medi...
Is It Important to Have an Estate Plan?
Estate planning is not just for affluent individuals. While good estate planning can lead to desirable financial outc...
What Impact Will Inflation Have on Retirees?
Inflation affects different groups unequally. Retirees tend to spend larger portions of their income on items highly ...
Who Inherited from the Estate of Johnny Cash?
Legendary country musician Johnny Cash fathered five children but structured his will in a way that heavily favored o...
What's the Difference between a Living Will and a DNR Order?
A living will and a Do Not Resuscitate Order (DNR) are often confused, but they represent distinctly different legal ...
Why You Need a Digital Asset Estate Plan
Who can access your digital accounts after your death? A nearly decade-long legal battle following the death of a man...
Do Young Adults Need a Will?
Everyone, including young adults age 18 and older, needs at least some basic estate planning documents. That’s true e...
What Are Mistakes to Avoid with Beneficiary Designations?
Many people don’t realize that their will doesn’t control all asset distribution after death. Certain assets – includ...
Do I Need a Spendthrift Trust?
A spendthrift trust allows you to leave funds to a beneficiary without giving them full control over those funds.
What Are Big Mistakes to Avoid in Estate Planning?
Establishing an estate plan is extremely important. As life changes, it is necessary to update your plan to fit new c...
Can I Avoid Disagreements in My Family about Mom's Caregiving?
Family members have long quarreled over financial matters, yet these disputes can intensify dramatically within careg...
The Future of Your IRA and How the SECURE Act Changed the Rules
The Setting Every Community Up for Retirement Enhancement (SECURE) Act fundamentally altered how inherited IRAs work ...
What Is Broken Heart Syndrome?
Is it possible that grief is implicated in illness and a higher risk of death?
What Happens If My Partner Dies and We're Not Married?
All couples can now take advantage of tax benefits for married partners, pass assets from one spouse to another with ...
What Is an Ethical Will?
An “ethical will” (also known as a “legacy letter”) serves a fundamentally different purpose than a traditional will....
What Is Better for Your Estate Plan, a Trust or a Will?
Preparing an estate plan for managing and distributing your assets in the case of death is one of the most important ...
RMD Formula Changes for First Time in 20 Years
The IRS has announced positive news for retirees: you can now retain more money in your tax-deferred retirement accou...
Estate Planning Tips for Solo Seniors
Estate planning considerations differ significantly for those outside traditional family structures. The recommendati...
How Do I Store Estate Planning Documents?
A common dilemma that families face upon the incapacity or death of a loved one is locating estate planning documents...
Did Actor Ray Liotta Have an Estate Plan?
After years of working in the entertainment industry, Ray Liotta built an impressive net worth before his unexpected ...
Do You Have a Will?
According to a recent Gallup poll, slightly more than half of American adults lack a will.
Should a Gun Trust Be Part of Your Estate Plan?
Firearms present unique estate planning challenges that demand careful attention. Unlike other personal property, gun...
Does a Supplemental Needs Trust Impact Government Benefits?
For disabled persons receiving financially based government benefits, supplemental needs trusts (SNTs) can safeguard ...
How Do IRAs and 401(k)s Fit into Estate Planning?
Investing for retirement represents one of the most important financial decisions you can make to secure your family’...
Why Is Beneficiary Designation Important?
When establishing your estate plan, it’s crucial to align the legal documents you create with your retirement account...
What Sparks the Contesting of a Will?
Some people draft wills or trusts to ensure that their loved ones will receive portions of their property after their...
What Happens Financially When a Spouse Dies?
Losing a spouse ranks among life’s most devastating experiences, combining emotional devastation with immediate finan...
What the Latest Dementia Study Says about Links with Certain Medicines
Recent research challenges earlier concerns about a potential connection between certain acid-reflux medications and ...
Eat an Avocado for Your Heart
Try replacing your morning bacon with some of this.
Is a Roth Conversion a Good Idea When the Market Is Down?
Soaring inflation, interest rate hikes and the war in Ukraine have sparked ongoing stock market volatility. However, ...
When Should I Update My Will?
There are obvious triggers prompting will updates, such as health changes or shifts in marital status. However, finan...
Should I Have a Revocable Living Trust in My Estate Plan?
A revocable living trust serves as an important estate planning document designed to protect your assets during your ...
How Much Sleep Should Seniors Get?
Sleeping too little or too much is associated with poorer cognitive performance and mental health.
What Are Benefits of Pre-Planning My Funeral?
Questions around death planning can feel overwhelming: Cremation or burial or natural organic reduction? What will yo...
How Do I Conduct an Estate Inventory?
When a loved one passes away, their estate may need to go through probate – a court-supervised process where the dece...
Get Mom and Dad a Password Manager
Ever heard the phrase, “a chain is only as strong as its weakest link?” The same goes for a financial portfolio: It’s...
What Do We Do If Dad's Caregiver Dies?
A caregiving spouse dies, and their adult children are left unaware of their surviving parent’s needs and how to meet...
Why Do You Need a Will?
A recent survey found that approximately 68% of individuals pass away without establishing a will. The repercussions ...
What Happens If You Become Incapacitated?
Many people wonder what would occur if they were hospitalized and unable to make their own medical decisions. The ans...
Did Monkee Mike Nesmith Have More Than One Will?
Musician Michael Nesmith, best known as a member of the 1960s rock group The Monkees, passed away on December 10, 202...
Does Estate Administration Need to Be Supervised?
Probate is a legal process where the court approves a will and executor, allowing the estate to be distributed after ...
Half of Americans Making More than $100K Need a Will
Among those who do not have an estate plan, 63% said that they have considered creating one in the past and 46% said ...
Can You Inherit a House with a Mortgage?
Dealing with the loss of a loved one is never easy. When inheritances, homes, estates and mortgages are involved, ten...
Can I Protect My Inheritance from Divorce?
Inherited assets are typically considered separate property rather than marital property, meaning they may not be sub...
Non-Probate Assets Are Not Part of the Estate
In presentations about inheritance, the focus typically centers on creating a will. However, this overlooks a crucial...
How to Know If a Last Will Is Invalid
When considering whether to contest a decedent’s Last Will and Testament, an individual should consider whether red f...
Tips on Finding the Right In-Home Aide
As you age, you may need help to take care of your health but want to live independently in your home.
What Do I Need to Know About Long-Term Care Insurance?
Long-term care insurance covers expensive nursing care needs. However, is it a good investment? Here’s what experts s...
What Estate Planning Documents Are Used to Plan for Incapacity?
One of the most important estate planning documents for all persons over the age of 18 to consider is a durable power...
Special Needs Planning
Estate planning requires customization for each individual, particularly when beneficiaries have disabilities. Failin...
How to Get Started on an Estate Plan
The Covid-19 pandemic has heightened Americans’ awareness regarding the importance of preparing a will, living trust,...
Can My Ex-Spouse Get Some of My Estate?
Your will represents a final statement about how your property should be distributed after death. However, without pr...
When Should I Think About Business Succession?
A frequent and expensive oversight in business succession planning involves delaying the process too long. The pandem...
How Should I Use Deceased Spouse's Life Insurance?
The loss of a spouse brings overwhelming emotions and financial stress. Life insurance death benefits can help surviv...
Do I Need a Living Trust?
If you are developing an estate plan, you have likely heard about living trusts. These structures help people avoid p...
Organize Your Important Papers and Get Personal and Financial Affairs in Order
The initial phase of organizing your personal matters involves gathering all essential personal, financial, and legal...
Can Playing Golf Lower Risk of Dementia?
Japanese researchers discovered that older male golfers demonstrated significantly lower dementia risk compared to th...
Protecting the Family Vacation Home with an LLC
Family vacation homes represent significant wealth and cherished traditions across generations. However, passing thes...
Is Estate Planning Affected by Property in Two States?
When you own real estate or tangible property (such as a boat) across multiple states, your estate planning strategy ...
How to Handle Cryptocurrency in a Will
The growing popularity of cryptocurrencies has prompted estate planning professionals to adjust their practices, as d...
No Will? What Happens Now Can Be a Horror Show
Families struggle to recover after losing patriarchs and matriarchs without clear succession plans. The period of gri...
What Should I Leave Out of My Will?
When drafting a will, there are two critical mistakes people commonly make that can create complications for benefici...
Common Estate Planning Mistakes
Your last will and testament represents one of the most critical legal documents you will create. It enables you to d...
What Should You Do If It Is Possible an Elderly Parent Is Being Scammed?
In the post-pandemic era, older adults face heightened isolation and vulnerability to financial exploitation. The maj...
The Gift Tax Exclusion and Minors: Some Tips
In 2022, the annual exclusion for Federal Gift Taxes increased to $16,000 per person per year. While gifting is widel...
Giving is the Plan: What About a Charitable Trust?
A charitable trust offers multiple structures with varying tax implications. The two primary types are the charitable...
Should I Have a Discretionary Trust in My Estate Plan?
A discretionary trust is a legal arrangement allowing a trustee to manage assets on behalf of beneficiaries with sign...
Avoid Penalties When Contributing to or Withdrawing From Retirement Accounts
Building and living off a nest egg is tough. However, you can make the situation even more difficult if you run afoul...
Why Should I Give My Money Away?
Everyone likes money, right? Giving money to family or friends can also be a smart tax planning move.
How Do I Protect Myself and My Children in a Second Marriage?
Second marriages present unique estate planning challenges that require careful consideration before couples say “I d...
Is It Important for Physicians to Have an Estate Plan?
Physicians who complete their residency and begin practicing should prioritize estate planning early in their careers...
What Are the Signs of Elder Abuse?
In the wake of the coronavirus pandemic, many older adults are more socially isolated than ever – and thus more vulne...
Can Grandchildren Receive Inheritances?
Yes, grandchildren can receive inheritances, but there are important legal considerations when the beneficiaries are ...
What Is the President Proposing to Help Nursing Home Quality?
White House officials outlined more than 20 separate actions aimed at improving nursing home quality, many of which h...
Why Do People Keep Putting Off Estate Planning?
Out of sight, out of mind isn’t just an everyday adage – it’s one of the reasons why people 50 and over fail to write...
Will a Special Needs Trust Prevent My Loved One from Receiving Benefits?
Estate planning is not a requirement. No one can force you to make your will, create a power of attorney or to own yo...
Is a Bypass Trust Necessary?
The recent surge in stock market values, combined with the SECURE Act’s passage and the impending reduction in federa...
Can Estate Planning Reduce Taxes?
Yes, estate planning can significantly reduce your tax burden through several strategic approaches. Clients today are...
Do I Need an Attorney for Probate?
An estate planning attorney can significantly reduce stress during the probate process for families. Here are the key...
What Happens to Parents' Debt when They Die?
Adult children typically don’t have to pay their parents’ bills, though important exceptions exist. Debt can reduce i...
What Can't I Forget in My Will Now that I'm 50?
Without a will, decisions about your property and assets fall to local courts, making an already difficult time harde...
Am I Getting All the Social Security Benefits I Can?
The Social Security Administration extends payments beyond standard retirement benefits to spouses, children, and tho...
What Can a Trust Do for Me and My Family?
Trusts are often associated with the wealthy, but they aren’t exclusively for the ultra-rich. There is no minimum ass...
What Legal Terms in Estate Planning do Non-Lawyers Need to Know?
For most people, entering the realm of estate planning can feel like traveling as a tourist into another culture. Bec...
When Does Someone Need a Guardian?
Seeking guardianship for a loved one is a significant decision that requires careful consideration. When someone cann...
What's a Medicaid Annuity?
It’s not uncommon for older couples to reach a point when nursing home care is needed for one spouse – and the cost i...
Social Security Retirement Age Changing and What Does That Mean to Payment?
While you can start Social Security payments at age 62, your monthly checks are reduced if you begin collecting benef...
What Are the Stages of Huntington's Disease?
A diagnosis of Huntington’s disease presents overwhelming challenges for both the individual and their caregiver. Und...
What Should Not Be Included in a Trust?
A revocable living trust is a great tool to help your assets pass smoothly to your beneficiaries and it can significa...
Leaving Instructions for Loved Ones
Executors benefit from having additional information when administering estates, particularly when they lack familiar...
What Foods Are Bad for Joints as Aging Occurs?
You can’t do much to slow the march of time, but there are plenty of lifestyle changes you can make to show your join...
Why Should I Have a Living Will?
A traditional will specifies how your estate – property, money, and possessions – should be distributed after death. ...
Can a Common Surgery Reduce the Risk of Dementia?
A common surgical procedure that many older Americans undergo shows a strong association with reduced Alzheimer’s dis...
What Are the Most Common Estate Planning Mistakes?
With apologies to poet Robert Burns, the best-laid estate plans of women and men sometimes go awry.
Are Your Beneficiary Designations Up to Date?
Non-probate assets are those assets which do not go into an estate when the owner dies. Updating estate plans and rev...
What Vaccines Should Seniors Schedule besides COVID?
Now that winter is here, seniors must prepare for what could be a challenging time when it comes to staying healthy.
Managing Your Home as a Financial Asset
Could generations of traditional homeownership wisdom be wrong? Here’s what you need to know to determine whether you...
What Are the Biggest Mistakes in Wealth Transfer?
We are approaching the biggest wealth transfer ever, as Baby Boomers prepare to hand off their life savings to their ...
What Planning Should I Do in My 50s?
If you are one of the many people who start getting serious about their finances as they reach their 50s, enjoy this ...
Should I Use a Corporate Trustee?
Revocable living trusts have become a popular estate planning tool for managing assets, avoiding probate, and maintai...
What's Wrong with the VA Benefits System?
Former Veterans Affairs Secretary Robert Wilkie has raised concerns about the current veterans benefits system, argui...
IRS Disregards Trust Scheme when Intent Says Otherwise
A significant tax court case involving a trust scheme demonstrates why the IRS successfully challenged a gift of LLC ...
Does Isolation Impact Senior Well-Being?
For seniors, maintaining social connections and staying in touch with loved ones not only improves quality of life, i...
What Are the Home Caregiving Options?
Family caregivers cannot do all things all the time. Recognizing when you need outside help is good for you, and also...
How to Avoid a Family Fight over the Business
In coming years, millions of Baby Boomers, those born between 1946 and 1964, are expected to retire in the U.S. In fa...
What Are Trends in Senior Health Care?
The pandemic accelerated digital health adoption in senior care, with older adults increasingly using video calls and...
Why Did 'The Boss' Cash In On His Music Catalog Now?
Bruce Springsteen made headlines by selling his entire music catalog to Sony Music Entertainment in a deal reportedly...
Can Tax Planning Help Me Keep What I Inherit?
Unless you spend your winters in Aspen and your summers in the Hamptons, you probably do not have to worry about payi...
Why Naming Beneficiaries Is Important to Your Estate Plan
If you have ever spent time working through your estate plan, you know how important it is to select and update your ...
How Much Is the Required Minimum Distribution from Retirement Accounts?
The IRS has updated the formulas for Required Minimum Distributions (RMDs), the amounts required to be taken annually...
Does a TOD Supersede a Trust?
Both help you pass down assets, while avoiding the time and expense of probate. However, one has much more flexibilit...
Can I Claim Grandfather's Unclaimed Insurance Policy?
Insurance claims can be made at any time, even years after the death of the policy holder.
Any Ideas How to Pay for Long-Term Care?
The costs of long-term care for older adults can be significant. Federal Medicare health insurance benefits do not co...
TOD and POD Accounts: What's the Difference?
A TOD (Transfer On Death) account allows account holders to designate a beneficiary on non-retirement financial accou...
Can I Restructure Assets to Qualify for Medicaid?
Many people mistakenly believe that Medicaid is exclusively for those with low incomes. However, with strategic estat...
Is It Necessary to Have a Medical Power of Attorney?
Selecting medical powers of attorney is an important step that aging parents should take to ensure they get the care ...
How Do You Gift Your House to Your Children during Your Lifetime?
There are many ways to pass property on to children, including gifting the family home to them while you are still al...
How Important Is an Estate Plan?
Every individual needs some form of an estate plan to protect their wishes and loved ones. Your estate consists of ev...
Is It Too Late for a Family Meeting to Discuss Money?
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one...
When Should a Trust Be Reviewed?
Many people mistakenly believe that once a trust is created, no further action is needed. This assumption is incorrec...
Does a Trust Protect You from Being Sued?
Trusts can provide certain benefits for estate planning, including asset protection. But can you sue a trust?
Do Grandchildren Get the Inheritance If Their Dad Dies before Me?
What if parents have wills and their contingent beneficiaries are their two adult children. If one of the adult child...
Estate Planning Through Uncertainty
Taxpayers should carefully consider whether to engage in a lifetime gifting strategy, which has other considerations ...
What to Expect When You Inherit an IRA
Some inherited assets are tax-friendly, but under new rules, others come with a hefty tax bill. Here is what you need...
How Do I Know If Mom or Dad Needs Care?
According to data from the 2018 National Health Interview Survey, approximately 7% of adults 65 and older need help w...
How Can I Tell If I Have an Iron Deficiency?
Iron deficiency occurs when your body does not have enough of the mineral iron.
Can I Change My Estate Plan During Divorce?
Divorce is an emotionally challenging time, and adding estate planning complexities to the mix makes it even more dif...
When Should I Consult with an Elder Law Attorney?
Elder law attorneys assist seniors or their family caregivers with legal issues and planning related to the aging pro...
How to Protect Assets from Medicaid Spend Down
Several types of special income trusts and other strategies can be helpful when trying to protect your family’s asset...
How to Approach Parents about Estate Planning
If you have a parent over the age of 65, thoughts about their future may have started to creep into your mind. Howeve...
Study Details Implications of Deciding Assisted Living Versus Nursing Home
A comprehensive study reveals significant gaps between what seniors prefer for care and what actually occurs. The res...
Do College Kids Need Estate Planning?
When children turn 18 and become legal adults, parents often overlook the importance of establishing essential estate...
What Should I Know Before Starting Social Security?
Since you began working, Social Security has recorded your reported earnings under your name and Social Security numb...
Do Gifts Count Toward Estate Taxes?
A recipient of a gift does not pay income taxes on the gift. However, the gift-giver may pay gift taxes, unless one o...
Does Anyone Know Where Your Money Is?
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one...
Will Inheritance Be a Benefit or Burden?
One of the biggest conundrums of estate planning is considering how, or even if, you can give money or property to yo...
What Has COVID Taught Us about Caregiving?
The COVID-19 pandemic intensified demand for care services while making them increasingly complex, accelerating pre-e...
What Should I Eat to Help Me Sleep?
Nutritionists share which bedtime snacks can help you catch the most winks.
Hire Estate Planning Attorney or Write My Own Will?
An online form or a DIY will kit may be a more cost-effective option. However, hiring a lawyer could save you money i...
What If Account has No Named Beneficiary?
My wife died and left a bank account with no beneficiary. The bank tells me I have to go through probate. I inherited...
What are Biggest Blunders I Can Make in Retirement?
You’ve done your homework, and now you’ve got this retirement stuff all figured out. Savings socked away. Debts paid ...
What Is the Social Security Increase for 2022?
A record-high Cost of Living Adjustment is arriving for Social Security beneficiaries in 2022, bringing substantial c...
How Do I Align Retirement Planning with Planning for a Special Needs Child?
As parents of children with special needs approach retirement, they must reassess decisions made years earlier regard...
Talk to Parents about Estate Planning without Making It Awkward
Discussing estate planning with your parents is a conversation that can be difficult to have. You might not want to t...
What Do I Need to Do During Medicare Open Enrollment?
It’s challenging to avoid the Medicare advertisements that saturate television during fall months, when insurers comp...
What are Some Sure Signs of Dementia?
It can be scary not to trust your own mind. That is the betrayal that individuals suffering from dementia experience ...
How Does Cryptocurrency Work in an Estate Plan?
Crypto assets can be lost forever without proper storage and estate planning. When it comes to cryptocurrency, safe a...
Some of Most Famous (or Infamous) Estate Planning Mistakes
If you do not learn from your mistakes, you are doomed to repeat them. In Estate Planning, if you do not learn from o...
What are Latest Trends in Senior Care Facility Design?
The senior care industry is experiencing significant transformation, not only in operations but also in the physical ...
Do People Get Divorced after Age 65?
A divorce almost always comes with emotional, personal and financial complications. However, a divorce late in life a...
How Does Medicaid Count Assets?
Although the Medicaid system may be a generally recognized public benefit, the intricacies of the program usually do ...
Why A Legacy Plan Is Needed to Protect Family Wealth
Over the next 25 years, analysts anticipate $68 trillion to be passed down to younger generations and charities. Whil...
Do I Need a 529 Education Savings Plan?
Most people think of 529 accounts primarily as college savings tools. While they do serve that purpose well—offering ...
Should I Delay Filing for Social Security?
Many people rush to claim Social Security benefits at age 62, but financial planning experts suggest taking time to e...
What Is a Dynasty Trust?
If you want to protect your family’s legacy from unnecessary taxes, divorce and creditors over the course of many gen...
What Does It Mean to Be an Adult's Legal Guardian?
The high-profile guardianship case involving Britney Spears has drawn significant public attention to how adults can ...
Will Inflation Ruin My Retirement?
As America’s economy reopens, higher inflation rates are emerging. This concerning trend should prompt retirees to ev...
Are Gen Z's Ready for Estate Tax?
Despite the pandemic, many Gen Z graduates are establishing their financial futures with strong financial literacy fr...
If I Have a Will, Do I Have an Estate Plan?
While a will is often part of an estate plan, an estate plan covers much more ground.
Should a Charitable Lead Trust Be a Part of My Estate Planning?
What is a charitable giving technique that doubles as a wealth transfer technique to avoid estate taxes and works esp...
Estate Planning for Special Needs Children
It takes a special parent to care for a child with special needs. These parents’ greatest financial concern is typica...
Gift-Tax Exemptions Are Treated Differently by IRS and Medicaid
Most people understand that individuals can gift $15,000 annually to another person without incurring gift tax. Howev...
What Is the Best Thing to Do with an Inherited IRA?
Inheriting an IRA from a parent involves specific rules that beneficiaries must follow to maximize the inheritance an...
How Did Hayley Mills Lose Her Fortune?
Hayley Mills became famous in the 1960s, starring in wholesome juvenile comedies like The Parent Trap (1961) and That...
Where Do You Score on Estate Planning Checklist?
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed...
What Are Digital Assets in an Estate?
Today, so many aspects of our lives are managed virtually. We keep currency, photos, music, documents, bills, medical...
Mega-IRAs Could Be a Source for New Public Policies
Congressional Democrats are considering new required distribution rules for individual retirement accounts based on a...
Beneficiary Controlled Trust May Be the Answer to Protecting Your Legacy
Life can be unpredictable. Divorce, bankruptcies, and lawsuits are unfortunate realities that can threaten an inherit...
Can You Make Heirs Behave from the Grave?
Throughout history, there are tales of unusual stipulations in wills and trusts. The German poet Heinrich Heine, who ...
Can Hyperbaric Oxygen Therapy Reverse Dementia?
A study on animals genetically engineered to develop Alzheimer’s Disease and a group of subjects over 65 with memory ...
What You Need to Know About Long-Term Care
As retirees live longer, many worry about outliving their savings. However, many older Americans have not planned for...
How Do I Find a Caregiver Support Group?
If caring for a loved one leaves you frustrated and angry at times, that is normal, but you do not have to go it alone.
No Children? What Happens to My Estate?
So, what happens to your estate if you do not have a will nor any children?
Do You Understand Veterans' Benefits?
It is important to understand the VA benefits available to you before you separate or retire from military service.
What Is a Guardianship?
Guardianship is a legal action where the court deems an adult an incapacitated person and appoints someone, the guard...
How to Protect an Estate from a Rotten Son-in-Law
Whatever the reason, whether your life is a bed of roses or a getting-worse-nightmare, there are things you can do no...
How Do I Stay Clear of Mistakes When I Switch Medicare?
If you get your health insurance through the public marketplace and are nearing age 65, do not forget about Medicare.
What Kind of Trust Is Right for You?
Estate planning is a crucial part of any holistic financial plan, and financial advisors often work with estate plann...
Should I Sign a Prenup before I Get Married Again at 60?
Those considering marriage at an advanced age should evaluate a prenuptial agreement, particularly when both partners...
Should I Agree to Be an Executor of an Estate?
Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It is a big ...
Will Congress Provide More Dollars for Elder Care?
As the baby boom generation ages, families seek ways to keep elderly parents out of nursing homes, a concern amplifie...
What Is the Primary Purpose of a Credit Shelter Trust?
A credit shelter trust is used to help married couples with significant assets pass their estates after their deaths ...
What Happens If You Don't Name Beneficiaries?
If you have had an IRA and a 401(k) for many years, you may occasionally ask yourself some questions: Am I contributi...
What to Know About Probate
There is a general understanding that every adult should have a last will and testament. However, for most people, ex...
What Are Signs of Identity Theft?
Identity thieves actively seek ways to exploit personal information, make unauthorized purchases, access medical acco...
Which Supplements Should I Take after 50? Are Some a Waste of Money?
Taking a dietary supplement or two (or five) every day is not exactly uncommon. About 70 percent of adults age 60 and...
Medicare or My Employer's Health Plan Better Option?
If your working spouse has excellent employer health insurance, you may wonder whether a disabled spouse should switc...
What Not to Do When Creating an Estate Plan
Sometimes people attempt to make an estate plan online without consulting legal and financial professionals to avoid ...
How to Keep the Vacation Home in the Family
Vacation property can become a family legacy. Keeping your cabin, fishing lodge, hunting property or other special as...
Key Dates for Planning Retirement
Each type of retirement benefit has a different eligibility age. Your age plays a big role in how much you can expect...
Why Did Texas Siblings Come to Blows Over Inheritance?
A violent incident between siblings appears to have resulted from a fight over their inheritance.
What Hobbies Add Years to Your Life?
Research demonstrates that certain hobbies possess such a significant impact on overall well-being that they can pote...
Do You Need a Power of Attorney?
People are often surprised to learn a power of attorney is one of the most urgently needed estate planning documents ...
What Happened to Charlie Daniels' Estate?
Charlie Daniels performed his final concert before the pandemic on March 13, 2020, at the Mark C. Smith Concert Hall ...
Why Do I Need a Last Will, Like Yesterday?
Talking about and thinking about death can be very uncomfortable. But avoiding the issue altogether and leaving yours...
When Should You Use a Charitable Remainder Trust in Estate Planning?
Rising prices for investments and real estate is making owners of these assets concerned about paying exorbitant taxe...
Has COVID Affected Baby Boomers' Retirement Plans?
The coronavirus pandemic changed nearly every aspect of our lives, including our plans for retirement.
Does Your Estate Have to Go Through Probate?
Every estate that holds titled property must be probated if title to that property is not transferred using some othe...
This Breathing Trick May Make You More Heart-Healthy
A simple five-minute daily breathing exercise lowers blood pressure and potentially improves heart health as well as ...
How Is Insurance Used in Estate Planning?
There may be potential benefits to life insurance beyond its traditional uses, especially when it comes to taxes, est...
Will I See a Bump in Social Security Checks Next Year?
Social Security checks may see a huge raise next year. Will it be enough?
What Are the Basics of a Successful Estate Plan?
An estate plan communicates to heirs and courts how your assets should be distributed. Beyond this, it shields loved ...
Disney Grandson Loses Appeal of Probate Judge's Decision
An appellate judge dubs probate court “the Unhappiest Place on Earth,” as Disney heir Bradford Lund has lost an appea...
Do Singles Need Estate Planning?
If you don’t have a spouse or children, you might think you don’t need to do much estate planning. However, if you ha...
Can a Retired Police Officer Qualify for Medicaid?
Qualifying for Medicaid can be complicated.
Who Pays the Tax on a Special Needs Trust?
The main financial vehicles for supporting disabled individuals – the special needs trust and the Achieving a Better ...
How to Handle Finances after Spouse Dies
The death of a spouse is one of the most difficult things imaginable. Besides the emotional toll, surviving spouses t...
Does New Alzheimer's Drug Offer Hope?
Cleveland Clinic recently published an article about a patient who received Aduhelm at the hospital, which served as ...
Does a Beneficiary on a Bank Account Override a Will?
Beneficiaries, in general, are people or entities that the holder of an account designates to receive the assets in t...
Do Women Need Long-Term Care Insurance?
Who needs long-term care insurance … and who might be able to do without it?
Have You Considered Estate Planning for Your Pet?
Companion animals, service animals, and pets play significant roles in many people’s lives. Pet owners can utilize es...
Can I Set Up a Trust for an Adult Child?
Creating a will is important for all adults, but particularly those who have dependents – including adult dependents....
How Do I Stop Heirs from Foolishly Wasting Inheritance?
One of the biggest concerns a trust creator might have is that the beneficiary would squander their inheritance or th...
Be on the Lookout for Elder Abuse
Do you suspect, or know, that somebody has been stealing from you? Maybe it’s items from your home? Or maybe it’s you...
Why Would I Need a Will or a Trust?
The estate tax exemption raised by the Tax Cuts and Jobs Act will sunset in five years – possibly sooner, as the new ...
Are More Vets Benefits Coming?
House appropriators backed White House plans for another big funding boost for the Department of Veterans Affairs nex...
What Should I Know about Medicaid and VA Pensions?
Planning for long-term care can be an intimidating process, especially when it comes to decoding the specifics of res...
Get Ready for Higher Taxes?
President Biden’s proposal to eliminate the step-up for calculating inheritance taxes targets a tactic that has long ...
Aging Parents and Blended Families Create Estate Planning Challenges
We have seen some step siblings able to all get along fine but they seem to be the exception. More likely, one siblin...
What Do I Need to Know to Be a Great Executor?
An executor manages the affairs of a deceased person’s probate estate. Since a deceased individual cannot own propert...
I've Been Appointed My Aging Parents' Power of Attorney but What Now?
We see recurring confusion about what it means to be appointed with authority over money in a Durable Power of Attorn...
The Britney Spears Guardianship: Not How this is Supposed to Work
A guardianship is a legal mechanism set up for people who are unable to manage their affairs.
Do Most Cases Of Dementia Go Undiagnosed?
Most Americans with dementia are undiagnosed, which shows how important it is to screen and assess seniors for the di...
Celebrity Estate Planning Mistakes
When celebrities pass away, their estate planning mistakes become public knowledge. While the scale of their wealth m...
What are Typical Estate Planning Documents?
Estate planning is not a single document. It is a collection of legal documents that work together to protect you dur...
Properly Handling Social Security When a Loved One Dies
Losing a loved one is one of the most difficult experiences in life, and the administrative tasks that follow can fee...
Take These Steps To Insure Your Estate Plan is a Success
Creating an estate plan is one of the most important things you can do for yourself and your family. However, simply ...
Should You Add Someone to Your Bank Account?
It is a common scenario: an aging parent wants to make sure a trusted child can access their bank account if somethin...
COVID Pushes Medicaid to Record Enrollment
The COVID-19 pandemic has had a profound impact on nearly every aspect of American life, and the nation’s health care...
What Is Probate and How Does It Work?
Probate is one of those legal concepts that most people have heard of but few truly understand. It carries a reputati...
Reviewing Estate Plans Matters
Creating an estate plan is an important accomplishment, but it is not a one-and-done task. Your estate plan is a livi...
What You Should Know Before Claiming Social Security
Deciding when to claim Social Security is one of the most consequential financial decisions you will make in retireme...
What's the Right Age to Start Estate Planning?
One of the most common misconceptions about estate planning is that it is something only wealthy or elderly people ne...