As a veteran or the surviving spouse of a veteran, you likely know about some of the more common benefits available to you through the Veterans Administration (VA). You are probably also aware of the complex maze that must often be navigated to get approved for the benefits to which you are entitled. What you may not know is that you could be entitled to benefits from the “Veterans Aid and Attendance (VA&A)” program. For veterans and/or survivors living on a fixed income, the additional …
Top 10 Retirement Planning Tips
The earlier you begin planning for retirement the less you will need to save in the long run. In fact, you might be amazed to find out what a huge difference it makes to start saving earlier in your working career. To ensure that your retirement plan works as intended, however, it should be created in conjunction with your overall estate plan. The Long Island estate planning attorneys at Eghrari Wealth Training Firm offer the top 10 retirement planning tips. Retirement Planning Tips While …
What Can I Do to Prevent Sibling Disputes?
For most people, one of the primary reasons to create an estate plan is to ensure that their estate is distributed according to their wishes after they are gone. Another reason is to reduce the likelihood of confusion and conflict after they are gone. If you have adult children, you undoubtedly want to do all you can to prevent disputes between them as well. With that in mind, the Long Island estate planning attorneys at Eghrari Wealth Training Firm discuss what you can do within your estate …
Trust Creation Mistakes Parents Often Make
Whether you are a new parent or the parent of adult children, you undoubtedly want to protect the inheritance you intend to leave for your children. Establishing a trust is the most popular way to accomplish this common goal. To ensure that the trust works as intended, you want to avoid making mistakes when setting up the trust. To help you, the Long Island trust attorneys at Eghrari Wealth Training Firm explain trust creation mistakes parents often make. Avoid These Trust Creation …
How Estate Planning Can Help with Probate Avoidance
Having at least a basic estate plan in place is better than no plan; however, having a comprehensive estate plan should be the goal. For example, an estate plan that ensures your estate assets are distributed according to your wishes when you are gone is important, but a plan that also ensures your estate will avoid probate is even better. With that in mind, the Long Island estate planning attorneys at Eghrari Wealth Training Firm discuss how estate planning can help with probate …
How Is Estate Planning Different for Women?
All adults should have at least a basic estate plan in place given the numerous benefits an estate plan offers. For women, however, estate planning can take on a heightened importance. The Long Island estate planning attorneys at Eghrari Wealth Training Firm explain how estate planning is difference for women. Why Is Estate Planning More Important for Women? Statistically, women are more likely to outlive their spouse, ultimately leaving them to be the one to pass down the marital assets …
Is It Time to Consider Guardianship?
If you find yourself worrying about a parent’s ability to care for himself/herself or about the increasing likelihood of injury, it may be time to consider guardianship over your parent. Like many adult children, you may be resistant to the idea of petitioning to become your parent’s Guardian because it feels like you are taking away your parent’s freedom or independence. Keep in mind, however, that failing to pursue guardianship could place your parent at increased risk for serious injury or …
The Problem with Pre-Paid Funeral Plans
Failing to plan for your own funeral and burial could cost your loved ones, in more than one way, after you are gone. First, your loved ones may end up paying more than they should for your funeral services. Moreover, in the absence of concrete guidance from you, the chance of confusion or conflict increases dramatically. Ultimately, loved ones could end up in a contentious battle over the details of your funeral that could cause a rift in the family for many years to come. Finally, …
Tips for Adult Children: How to Bring Up Estate Planning with Parents
It can be extremely difficult to watch your parents go through the mental and/or physical deterioration that accompanies the natural aging process. When a parent’s aging makes them vulnerable, a role reversal often occurs. The parent becomes the child, and the child becomes the caregiver. This, in turn, can create several problems that an adult child doesn’t know how to approach, much less resolve. With that in mind, the Long Island elder law attorneys at Eghrari Wealth Training Firm discuss how …
Estate Planning for the Blended Family
Estate planning for a married couple with children is usually fairly simple. If you divorce and remarry though, estate planning becomes more complicated. With a blended family you need to protect your new spouse and your children from your previous marriage in your estate plan. One tool that is often used in an estate plan for a blended family is a specialized type of trust known as a Qualified Terminable Interest Property, or QTIP, trust. To better explain, the Long Island trust attorneys at …
What You Need to Know about Medicaid’s “Look-Back” Rule
The high cost of long-term care means that, as a senior, the likelihood that you will need to qualify for Medicaid increases substantially. Consequently, it is wise to plan for the possibility by learning more about the Medicaid eligibility requirements, including the Medicaid “look-back” rule. To help you better understand, the Long Island Medicaid planning attorneys at Eghrari Wealth Training Firm explain what you need to know about Medicaid’s “look-back” rule. Why Might I Need to Qualify …
What You Need to Know about Elder Financial Exploitation
The older adult population in the United States has increased dramatically in recent years and is expected to continue to increase in the years to come. Sadly, that increase has led to a corresponding increase in elder abuse. Elder abuse occurs in several forms, including physical abuse, emotional abuse, and financial exploitation. If you are the caretaker of an older person, it is imperative that you take steps to prevent elder financial exploitation. Toward that end, a Long Island elder law …
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