Category Archives: Estate Planning
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 »
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 »
What About Your Digital Passwords?
Digital assets have increased many people’s perception of their estates in recent years. You might not think that your estate is substantial enough to warrant estate planning but this is a mistake that could put your loved ones in the difficult situation of having to sort through things after the fact. Digital passwords and… Read More »
How Does My Durable Power of Attorney Agent Know What I Want?
A durable power of attorney for health care involves you assigning a certain person or persons to make health care decisions for you if you are unable to do so on your own. Your agent can make many different kinds of health care decisions including deciding who has access to your medical records, which… Read More »
New Study Shows One Third of People Don’t Have What It Takes for Minimal Long Term Care
Who will foot the bill if you need a nursing home? That’s a question popping up for more and more families in America these days. Long term care insurance is extremely expensive and premiums have been on the rise in recent years. This doesn’t bode well for those people who are most likely to… Read More »
Study Shows Retirement Targets Have Shifted
The COVID-19 pandemic presented a unique set of challenges for financial and retirement planning and now investors are looking ahead to the future with different priorities. A recent research study from Northwestern Mutual shows that over one third of Americans have pushed back or moved up their target retirement age directly as a result… Read More »