Author Archives: Site Administrator
How Many People Don’t Have the Resources to Support Themselves with Long-Term Care?
Long-term care expenses can be catastrophic for a single person or even for the other spouse of a married couple. Most people anticipate aging in place or relying on family and friends as caregivers. But extensive long-term care needs might require assisted living or a nursing home. A recent study indicates that 60% of… Read More »
What Are the Disadvantages of Not Having a Power of Attorney?
Most people are not familiar with what a power of attorney can do for them and hope that they never encounter the situation of needing this document. However, the creation of a power of attorney document is important so that you have options for people you choose to act in the way you want… Read More »
Do You Have a Plan for a Successor Fiduciary?
A fiduciary refers to an entity or individual who is approved to act on your behalf regarding legal and financial matters. When a person is in the role of fiduciary, they must put your best interests and the best interests of beneficiaries at the forefront. This means there is both a legal and ethical… Read More »
What Are Coverable Long Term Care Events?
In order for a long term care event to be covered under your long term care insurance policy or Medicaid, your doctor must indicate that you are unable to perform at least two activities of daily living. You may see these referenced in paperwork as ADLs. The other circumstance that could qualify you to… Read More »
What Is the Gift Tax?
The federal government enables you to take advantage of a program known as the gift tax. Every year, gift tax amounts are announced so that you can make these gifts free of paying any taxes or needing to file a gift tax return. These are known as annual exclusions gifts and the maximum for… Read More »
What Happens If an Executor Refuses to Follow the Wishes of The Decedent in The Will?
A will lays out the particular plan for how a person’s assets and liabilities should be addressed when they pass away. An executor gets appointed, also known as a personal representative in some states, to handle this process known as probate or estate administration. If you are a beneficiary of an estate, or you… Read More »
Estate Distribution Questions to Ask Your Lawyer
Your first meeting with an estate planning lawyer is an important because it should establish your overall goals and make sure that you have clarity on what you hope to accomplish with your estate plan. Only then will you be able to work with your estate planning lawyer to craft a solid strategy for… Read More »
Some States Move Forward with Nursing Home Profit Caps
When you make the decision to put a loved one in a nursing home, your entire family probably meets about this and discusses it at length. You want to make the right choice for their care needs and also balance that with the availability of funds to pay for their care. This is where… Read More »
U.S. News Names Best Nursing Homes for 2021-2022
If you’re thinking about placing a loved one in a nursing home in the coming months of year, there’s no doubt you want to do some research first. There’s a difficult emotional aspect of this entire process, but there’s also the peace of mind that can come from knowing that you did all the… Read More »
How Soon Do You Need to Contact an Estate Planning Lawyer After Losing Your Spouse?
When a spouse passes away this significantly changes your estate planning future. You need the help of an experienced and knowledgeable estate planning lawyer to review your existing plans and documents and to make recommendations about next steps. It can be hard to move through this process on your own while you are also… Read More »