Avoiding Inheritance Mistakes
When a loved one passes away, dealing with the death and receiving an inheritance is an emotional time. The loss of a loved one is sad, but the influx of funds can bring joy or relief. It can be hard…
Why You Need a Durable Power of Attorney
A guardianship is defined as one or multiple people acting on behalf of someone else. The guardian is the person(s) with the power to make decisions, and the person with a disability is the adult who needs help with their…
Government Programs Provide an Array of Senior Benefits
Many US seniors are struggling with financial insecurity due to the current inflationary pressures. Aside from cutting back on unnecessary expenses, many retirees or near-retirement individuals should look to existing government programs to possibly qualify to receive assistance and reduce…
Is Equal Inheritance Right for Your Children?
More often than not the right way to divide assets is equally among children. Yet, in some families, each child receiving the same inheritance can be inappropriate, deplete the estate’s assets due to ensuing litigation, or cause other family issues…
Do You Have All the Legal Documents You Need?
Making sound financial and healthcare decisions as you age can become challenging due to diminished mental capacity or declining health. Everyone should develop an estate plan to protect themselves and their families. Putting these five must-have legal documents in place…
Revise Your Estate Plan Upon Divorce
Divorce is an emotional and financial rollercoaster (particularly if children are involved). Rarely is the division of assets an amicable process. While your estate plan may be the furthest thing from your mind during a divorce, without updating your documents, your…
Estate Planning and Elder Law
It might seem confusing to think about estate planning vs. elder law as you begin to plan your future, both financially and in terms of health care. Estate planning and elder law also have some similarities. Even though these two types…
US History’s Greatest Wealth Transfer
America is on the brink of the largest wealth transfer in history as baby boomers prepare to pass on their legacies through estate planning. Over the next 25 years, projections estimate 68.4 trillion dollars will be in motion to create an unprecedented transfer…
How to Understand Powers of Attorney (POA)
As part of your estate planning process, you should implement Power of Attorney documents. All states recognize powers of attorney, but rules and requirements will differ from state to state. The document gives one or more individuals the legal authority to…
Developing an Estate Plan for Non-Traditional Families
Over the past thirty years, family structures have changed significantly. Previously, a traditional family consisted of a husband and wife who married young, bought a home, had children, and worked towards financial stability. In 1949, 79.8 percent of American households…