Author Archives: Jay Butchko
How to Update and Review Your Estate Plan at Senior Transition Points
Your estate plan should never be treated as a “one-and-done” effort. Life changes and so should your estate plan. For many older adults, the biggest shifts happen later in life. You might move into assisted living, get a new diagnosis, or simply realize that you need day-to-day help because your life is becoming too… Read More »
Home Ownership in Later Years: Protecting the House While Planning Ahead for Long-Term Care
For many older adults, the family home isn’t just a place to live—it’s where their life occurred. It holds decades’ worth of memories, a sense of stability, and often represents their biggest financial asset. But as health needs shift with age, that same home can take on a much different role. What once symbolized… Read More »
Communicating the Plan: How Seniors Can Involve Family Without Sacrificing Privacy or Control
Conversations about money, health, or end-of-life decisions are never easy. For many older adults, they can feel deeply personal or even off-limits. But when it comes to estate planning, staying silent can create more problems than it avoids. Without clarity, families are often left to guess what their loved ones would have wanted, which… Read More »
Why Incapacity Planning Matters Before a Health Crisis
No one really wants to think about a time when they might not be able to make all of their own decisions. But for many older adults, something like a sudden stroke, a fall, or the early signs of cognitive decline can change everything in an instant. This could leave families unsure who’s allowed… Read More »
Revocable versus Irrevocable Living Trusts: Which One is Right for You?
When planning your estate, one of the most important decisions you could face is whether to create a revocable trust or an irrevocable trust. Both tools can help you control how your assets are managed and distributed, but they function very differently. Understanding the pros and cons of each will help you choose the… Read More »
Power of Attorney, Advance Healthcare Directives, and Living Wills: Getting Your Incapacity Planning Right
When people think of estate planning, they often focus only on what happens after death: who inherits property, how assets are managed, and how to avoid probate. But a complete estate plan must also prepare for the possibility of incapacity during your lifetime. If illness, injury, or age prevents you from making your own… Read More »
What Happens When You Die Without a Will: Understanding Intestate Succession
Many people put off writing a will, believing they have plenty of time or that their families will “figure it out.” Unfortunately, if you pass away without a valid will in place, your estate does not distribute automatically to your loved ones the way you might assume. Instead, state intestate succession laws determine who… Read More »
When Should You Review Your Estate Plan? Life Events That Should Trigger a Review
Creating a will or trust is one of the most important steps you can take to protect your loved ones and secure your legacy. But estate planning is not a “set it and forget it” process. Life changes–and so should your plan. An outdated will or trust can lead to unintended consequences, family disputes,… Read More »
Advanced Directives versus Living Wills: What Every Virginian Should Know
When it comes to planning for the future, the majority of Virginians will focus on wills, trusts, and how their assets will be distributed after their death. Those are definitely important pieces to your estate plan, but it’s equally important to plan for unexpected events that may happen while you’re still alive. Two of… Read More »
Medicaid Planning: Protecting Assets While Qualifying for Long-Term Care
Paying for long-term care is one of the greatest financial challenges facing Virginia families today. A private room in a nursing home can run you more than $100,000 a year. Assisted living facilities or in-home care services can also be prohibitively expensive. For a lot of folks, Medicaid provides critical financial assistance. However, qualifying… Read More »