This article explores the importance of estate planning for veterans and active military personnel and the essential documents to include in your estate plan.
People who die without a will can leave a thicket of probate problems for loved ones.
Families that include individuals with special needs require planning to secure their loved ones’ security in the future, both in legal and financial terms. There’s usually no expectation of the child becoming an independent adult, so careful planning is needed, as advised in the recent article “Financial Planning for Families with Disabilities” from Wealth Management. Many families neglect planning for their retirement, focusing all their resources on developing a plan for their disabled child. However, retirement and their child’s future need to be secured, which is where an estate planning attorney can help. In 2014, Congress created The Achieving a…
As family members and caregivers notice signs of cognitive decline in loved ones, it is essential to take proactive steps to safeguard assets. Seeking guidance from an elder law attorney to navigate complex planning issues as well as guard against financial exploitation reduces vulnerability to fraud.
The terms ‘revocable trust’ and ‘living trust’ are commonly heard in an estate-planning context. You may hear people say, ‘My house is in trust for my children,’ or something along those lines.
The recent guardianship case of the McNair family and the Houston Texans NFL Owner, Janice McNair, highlights the importance of working with an elder law attorney to consider alternatives to guardianship for protecting loved ones and navigating complex family dynamics.
While many people put off wills until the unattainable ‘later,’ many others simply fail to create a will because they do not really understand what and how the document works.
It’s a conversation fraught with potential tension, in which people examine around concerns about independence, money, responsibility and mortality.
Trusts are a smart and well-known estate planning tool that names or appoints a trustee to administer and distribute the assets according to the terms. However, how often do estate owners ask, “What if something goes wrong, and the trustee breaches their duties?”
Understanding trusts and their tax nuances can empower you to make informed decisions regarding the type of trust you choose for your estate planning purposes.