SHOULD I BUY LONG TERM CARE INSURANCE?
The Problem – Paying for Long Term Care According to the U.S. Department of Health and Human Services, 7 in 10 people over the age of 65 will require long term care. This compares to a 1 in 340 chance of a major auto accident and a 1 in 1,200 chance of a total loss […]
COMMON ESTATE PLANNING MISTAKES: Incorrect (or no) Beneficiaries on Retirement Accounts and Life Insurance Policies
Many people update their estate planning documents every three to five years, yet overlook some of the most important documents — the beneficiary designation forms for their IRAs, 401(k)s, other retirement accounts and life insurance policies. Unlike most assets, where beneficiaries are determined by your will or trust, retirement account and life insurance policy beneficiaries […]
Protecting Your Assets from Nursing Home Costs
Did you know that almost 70 percent of seniors will need long-term care assistance at some point in his or her life? Illnesses, disabilities, or a severe cognitive impairment, like dementia, often keeps people from living independently. Because of this, many seniors need help with basic self-care tasks. The government program that pays for nursing […]
CAREGIVER “BURNOUT”
Typical Situation We See: Parents are aging and my dad has dementia. Parents are “okay at home,” but only because Mom is providing 24-7 care. Soon, Mom will have made herself sick and/or Dad is going to need more care than Mom can give him. The family thinks that nursing home care is too expensive, even […]
A kind approach to elder law and estate planning
Discussing one’s death and disability can be so stressful that plans are not made for those events. Planning may be something we’ll get around to someday, or not. It’s so easy to procrastinate. If someone is not able to discuss planning for unpleasant events, that person is less likely to actually do any planning. When […]
Why is Estate Planning So Important?
Even if you have a small estate, estate planning allows money and property to be distributed according to your final wishes. Your assets include any real estate you own, bank accounts, stocks, bonds, personal property, retirement accounts and bank accounts. What happens to your assets when you pass away? You may think that these items […]
Summary of Your Role as Nominated Patient Advocate
You have been nominated as patient advocate for John Doe. In this summary, you will be referred to as an “agent” and, at times, John Doe will be referred to as the “principal.” The order of agents nominated are as follows: First:Second:Third: What this Means You are not currently authorized to exercise any authority. As […]
DO I NEED TO HIRE AN ATTORNEY TO PROBATE AN ESTATE?
Although it is not legally required for you to hire an attorney after the passing of a loved one, it is always a good idea to consult with an attorney well-versed in estate and/or trust administration. An experienced attorney will have a lot of insight into the process, having worked with probate matters on a […]
PLANNING FOR A DISABLED LOVED ONE
Do you have a child or grandchild who is on social security disability or Medicaid? If yes, leaving assets to them as part of your estate plan may have the unintended consequence of “kicking them off” their important government benefits. Eligibility for public assistance usually mandates that a disabled individual holds very limited resources, typically […]
A Helpful Look at the Differences Between Estate Planning and Asset Protection in Brighton
Estate planning lawyers in Brighton are most often considered by folks who are wanting to put their end-of-life affairs in order. The lawyer helps them to draw up important documents such as powers of attorney and medical directives, as well as to develop a plan for how an individual’s property will be distributed upon his or […]
