When you have been able to accumulate resources that you probably won’t exhaust while you are living, it can be satisfying to know that you have a legacy to pass along to the people that you love. Many individuals make projections in this regard based on the normal expenses that they have during their senior years. This makes sense, but there is a looming threat that everyone should prepare for in advance.Medicare LimitationsMedicare will be available to you when you reach the age of 65 if … [Read more...]
Planning for a Person With Special Needs
If you are fortunate enough to have enough resources to help family members, you should definitely seek legal advice before you take certain actions. There can be tax considerations and other complexities to navigate. This definitely enters the picture when it comes to providing assets for the benefit of a child or adult with special needs.Government Benefit EligibilityPeople with disabilities are going to need very costly medical care and treatment throughout their lives. For example, it … [Read more...]
Does a Living Trust Provide Asset Protection?
There are many positive benefits that are realized if you utilize a revocable living trust as the centerpiece of your estate plan instead of a last will. Many people are pleasantly surprised when they hear that you do not lose control of assets that you convey into this type of trust. Of course, from the name of the trust, they know that it can be revoked. However, there are other forms of control that are retained when the trust is intact.If you were to establish a revocable living trust, … [Read more...]
What Is the Definition of Elder Law?
Elder law is the area of legal specialization that is focused on the interests of senior citizens. There are a number of different elder law issues that are pressing at the present time, and one of them is the matter of elder financial abuse. It is difficult for experts put an exact number on the amount of the losses, because the vast majority of cases go unreported. This being stated, we are talking about billions of dollars each and every year.Why do so many instances of elder abuse take … [Read more...]
Consolidate Assets With a Living Trust
A revocable living trust is the ideal estate planning tool for the vast majority of people with a reasonable store resources. This type of trust provides many benefits, and we will look at them in this blog post.One major benefit is the consolidation of assets. If you were to use a last will as your primary estate planning vehicle, you would name an executor in the document. This individual or entity would handle the estate administration tasks. The first order of business would be for the … [Read more...]
