Everyone needs estate planning, not just the elderly. Estate planning is the preservation and the distribution of your assets, both during your life and upon your death. It is accomplishing your personal and family goals and easing the management of your financial and legal affairs, as well as minimizing taxes if your estate is large enough for taxes to be of concern. When we talk about an estate, we mean all assets of any value that you own, including real property, business interests, investments, insurance proceeds, personal property, and even your personal effects.
Elder law involves planning for the complex health care, long-term care, and other issues facing elderly and disabled individuals and their families. Studies show that we stand a 40% chance of needing long-term care at least once before we die. Therefore, everyone should take into account that at some point residency in a nursing home or an assisted living facility may be needed. However, the substantial cost of nursing home care for an incapacitated person can wipe away a family’s nest egg and the inheritance planned for surviving family members.
Incapacity planning is a broad area of law that covers how you are cared for if you become physically or mentally unable to care for yourself. The type of care could range from simple tasks like buying groceries, paying bills, and handling financial matters to more important decisions such as selling real estate, gifting assets to your children, or making critical medical decisions. Depending on the needs of the individual or family, incapacity planning could include a number of planning techniques, and The Law Firm of Mark S. Eghrari & Associates, PLLC can help you to find the right ones.
As more Americans become entrepreneurs, they discover that wise business planning is essential to their success today and their financial security tomorrow. It can be a complex and tricky process, so knowledgeable legal assistance is crucial to ultimate success. Our law firm can help you achieve your goals, whether your business is a one-person operation or one striving for a place on the Fortune 500 list. You must look ahead to secure the future of your business and protect your personal assets as well.
If your family has experienced the loss of a family member, our law firm can assist you with the legal process that occurs when a loved one passes away. Our law firm strongly believes that a wisely drafted, carefully executed estate plan is the critical component of a family’s wealth management. The Law Firm of Mark S. Eghrari & Associates, PLLC guiding principle is to provide families with quality trust administration and probate services tailored to each client’s specific needs and goals. As a result, we offer free, no obligation consultations for any family who has experienced the loss of a loved one.
Ensure your loved one’s needs are met by learning all you need to know about planning for their future. Families who have a family member with a disability must plan for the very carefully because how assets are left after your death can have a tremendous impact on the quality of life for that person. In the past, a will may have been enough, but times have changed. To protect a person with special needs, a well-defined estate plan is vital.